USD showing signs of weakness across all sessions.
New indicator I’m working in this chart will show and track session levels.
The dollar index is taking a break as focus shifts to earnings and the upcoming elections.
A much needed break from one of the parabolic uptrend events.
First was the Uber hawkish fed where Powell told everyone he believes in the milkshake theory.
One indication I have been monitoring recently is cliff drop that is TLT/JNK. It recently bounced off a multi-year support going back to 2014.
If you haven’t been following the bull rally idea I put out a few weeks ago. Check it out. I put 2 weeks worth of updates on Dealer positional Gamma, Delta, Volatility, Levels and macro.
To remain on target to 3900 by OCT 31 we’re going to want to stay within what I call the “JAM BANDS”
I will prepare an update on JHQDX before Friday with what my thoughts will be for the reset on Monday.
The JHQDX reset is not followed as much, but the Gamma is picking up as the expiration nears.
VIX coming down is going to give the daily moves an even bigger intra day move to end the month.
A pullback into the JAM Bands on daily should be expected.
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also forgot to point out how ugly skew is.
WIll be important talking point for the next 3-6 months.
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Bearish = Rejected the 50 day. Bullish = Rally still has legs as long as they hold 3830.
3830 fails = likely test 20D before end of week. 3830 holds = overnight bears take another shot.
Wildcard tonight is META and F. Two companies I hate to love, but love none the less.
Yes. I think Meta will eventually turn it around. Nobody ever talks about React, but it is by far the most utilized web app technology today. React 3 Fiber will eventually become mainstream replacement for that void left by adobe flashes failures.
very cool my friend ?, Still think we will turn at 3900, or higher 4000, 4100 ?
SPYvsGME
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@wolffarchitecture, BOC pulled back, I think the fed might as well. Inflation print for Oct will surprise to the downside and dealers are short vol for upcoming Fed and Elections. Short squeezes will provide feedback loop while in the JAM bands. That is between 1.5 and 2 standard deviations above 20 day. Retest and base around 50 that puts the 200 (4100) a possibility for Nov/Dec.