ES - Gap Filled / Risk Off ahead / Bitcoin - Squeeze Over
Gamma Squeezes in TSLA, SQUARE and AMD provided cheap entertainment for the
Chasers.
The Indices closed on the LOWs - Exclamation Point.
IT IS DECISION TIME.
Traders are beginning to unravel the mysteries of the RR Market at the
FED.
The Treasury has announced it will take "Extraordinary Measures" as Congress
enjoys 6 weeks of break. Evictions began in earnest as even Venice Beach saw
a sweep over the weekend to remove the Homeless Encampments to Santa Monica.
Hearts were broken yesterday in the SPY, Gap n' Crap Trap complete.
Technical Indications do not have what is required to move higher. Momentum is
weakening, the Bull Flag is in search of.... new chasers.
They are absent.
Crypto, in particular Bitcoin did its thing, the squeeze is losing participation. Breaking
30K was a large warning as traders who took the squeeze are now exiting the trades.
Technical Traders took 42K as Profit Level. Buyers are exiting as BTC heads back to Sub
30K. We took the SELL up to 42K and are very pleased to increased our BRR Position 2X.
BRR is now trading @ 38660, We hold 24 BRR @ 41491.
Everything looks fine... Unfortunately for Bulls, Fear has entered the equation.
Charts are an important tool, Sentiment is far more powerful as Chart Traders are
going to discover/rediscover.
All is not well across the Indexes, the Bond Market Distortions will come under duress
as Rates will be moving higher based upon the Net reduction in Overall Liquidity the
Reverse Repo Exchange. There is little to nothing UST Sec. Yellen can do but add to the
problem.
The Flush Down has arrived, it will be quick and dirty, a nasty reminder that Sentiment
has taken hold.
The VIX has made lower highs and continues to do so. We remain in the trade for 22.50
and more. Break 22.50 and it's back the the highs.
Chasers.
The Indices closed on the LOWs - Exclamation Point.
IT IS DECISION TIME.
Traders are beginning to unravel the mysteries of the RR Market at the
FED.
The Treasury has announced it will take "Extraordinary Measures" as Congress
enjoys 6 weeks of break. Evictions began in earnest as even Venice Beach saw
a sweep over the weekend to remove the Homeless Encampments to Santa Monica.
Hearts were broken yesterday in the SPY, Gap n' Crap Trap complete.
Technical Indications do not have what is required to move higher. Momentum is
weakening, the Bull Flag is in search of.... new chasers.
They are absent.
Crypto, in particular Bitcoin did its thing, the squeeze is losing participation. Breaking
30K was a large warning as traders who took the squeeze are now exiting the trades.
Technical Traders took 42K as Profit Level. Buyers are exiting as BTC heads back to Sub
30K. We took the SELL up to 42K and are very pleased to increased our BRR Position 2X.
BRR is now trading @ 38660, We hold 24 BRR @ 41491.
Everything looks fine... Unfortunately for Bulls, Fear has entered the equation.
Charts are an important tool, Sentiment is far more powerful as Chart Traders are
going to discover/rediscover.
All is not well across the Indexes, the Bond Market Distortions will come under duress
as Rates will be moving higher based upon the Net reduction in Overall Liquidity the
Reverse Repo Exchange. There is little to nothing UST Sec. Yellen can do but add to the
problem.
The Flush Down has arrived, it will be quick and dirty, a nasty reminder that Sentiment
has taken hold.
The VIX has made lower highs and continues to do so. We remain in the trade for 22.50
and more. Break 22.50 and it's back the the highs.