ES Update

PPI higher than expected, futures down. Obviously good news for someone that shorted TLT. MFI is now overbought, so I'm not sure that we get a repeat of yesterday. It might just stay red today.

RTY and NQ look the same, only difference is that NQ hit overbought AH yesterday on RSI.

I posted an overlay of Xmas as a joke, lol. More whipsaw as I been saying since CPI day.

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I know it doesn't help your trading, but I was right, more whipsaw, lol.

Still have my TLT puts. I don't understand why anyone would buy bonds considering the Fed speech and PPI coming in high

Like I said yesterday, I think the market continues to whipsaw until bonds hit the next support, you can see it on the TLT chart.... $99.5

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I think it's tracking my overlay, lol. Freakin' whipsaw day

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Holding my TLT puts because bonds got wrecked Thu aft last week. So making my decision EOD. That being said, you better keep your eye on the market if you're long and playing this gap fill

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The market can pump TLT like it;s a freakin stock, but in the end treasury auctions dictate bond yields. I can't imagine the banks wanting to buy 30Y with a 1% yield inversion when the Fed is talking about more hikes.

Even if TLT goes up tomorrow, I doubt it goes above today's resistance. Gonna hold my puts overnight unless it drops below $101 before close.

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I warned you an hour ago....

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Indicators are neutral for US and Euro markets. My prediction for tomorrow is:

MORE WHIPSAW

Today is day 3 of the garbage stock short squeeze and my rule is 3 or 4 days, so tomorrow might be the end of it. The market has been rather resilient the whole week, so the only thing I'm bearish on is bonds.

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Wanted to short BTC but premiums are too high. Sticking with my current position.

If you think the whipsaw the past 3 days was craxy, tomorrow is weekly options expiration and options volume was heavy this week.

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Remember EOD action does not dictate gap direction, and gap direction does not indicate which way the market will go during the day. this week was tough for momentum traders unless you are bullish on garbage stocks. That play is probably over as well.

I did mention mid-day that I was bearish for the close. Amongst other weird things, China has been alternating up and down days, lol.

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OK, that was a bigger drop than I expected, lol.

But hey, i warned you multiple times...

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In the end, SPX is now flat for the past 3 weeks, lol.

You know what's down? Bonds.

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I'm no longer bullish on the market, the afternoon tank was on relatively low futures volume. Looks like the market ran out of dip buyers. We'll see tomorrow.

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I mentioned it before it started tanking, should have shorted shitcoin. Now kinda sad, lol.

Shitcoin lead the garbage pump, tanking AH. Expect meme stocks to do the same tomorrow. It's actually good to watch cryptos, they seem to lead movement lately.

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The village idiot, Powell, should just resign. We need a Fed chairman that's not a complete moron. Apparently call options volume were huge after his speech, now they all get hosed.

Speaking of pump and dump, BTC still dropping. I guess that's why I'm a bit bitter, lol. Next time I pay the high options premium.

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Note my midday comment about China alternating up and down days, they went down. Should've grabbed some PDD puts.

PDD tends to gap down based on movement on the Hang Seng, if Hang Seng drops 1.5%, it should gap down about $1.5, drop down another $1.5 then either flatten out or reverse. Watch for it tomorrow. Strange stock but predictable on open most of teh time.

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Look at PDD this morning, I was close on my prediction. Problem is the spread is huge on options at open, so you really have to guess direction at close the day the before.