It's Vaccine Day, Yay! Maybe now, Mr. Market, we can see a sell-the-news event? Don't hold your breath, folks. After a strong gap up overnight, the US Majors are being panic-bid here at the open. Vix is crashing down to a 22 handle, erasing all of yesterday's gains. The Put/Call ratio shows the incredible shift in sentiment over the weekend, going from a 50 handle on Friday, down to a 34 handle on the open. Holy sh*t. The 10Y yield is still hovering just above the 50 period MA on the weekly (.867). The dollar is down to a 90 handle. Asian markets are all in the green, while Eurpean markets are trading mixed. Let's see how the morning session shapes up as we approach the all-time high's, once again.
Stay tuned for live updates throughout the day, and thanks for your time today guys! If you enjoyed our analysis, please hit the Like button and subscribe to our profile. The information and analysis shared in this post is not financial advice. Always conduct your own analysis and research. - Hedge.
Stay tuned for live updates throughout the day, and thanks for your time today guys! If you enjoyed our analysis, please hit the Like button and subscribe to our profile. The information and analysis shared in this post is not financial advice. Always conduct your own analysis and research. - Hedge.
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Vix looking resilient (for now):
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US 10Y yield has a long way to go:
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Put/Call showing extreme exuberance:
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USD in the ICU:
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It's getting a little slippery here as we approach the afternoon session. Absent an attempt from the bears to fill the overnight gap, I suspect we'll see some sideways price action, as we catch intraday support at the 200 period MA on the 15 minute (367.83), which is sitting right at the 50 period MA on the hourly...
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Vix is catching a bid and is now back at a 23 handle. The 21 day EMA (22.90), has just been recaptured, let's see if we see a notable spike here...
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SPY down to a 366 handle. Let's see if the bulls find some support at the gap fill around 366.35, or if the bears are here to sell the vaccine news:
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NYC mayor just said in a statement that the city should "prepare for possiblity of full shutdown." Uh oh...
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Put/Call breakout is still in play. Back above Friday's close, after crashing this morning on the heavily panic-bid open.
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Just added to my Vix position with some UVXY. #Vix46
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Approaching the final 30 minutes of trade. Let's see if a perfectly timed headline will come to save the bulls, and distract investors from the global lockdown's. I'm thinking maybe stimulus progress? Or maybe Biden being voted in byt the electoral college? Or maybe we finally see the market correct...
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SPY now at a 364 handle, with 10 minutes left in the cash market. Someone call Kudlow, or Mnuchin, or Pelosi!
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View from the 15 minute:
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Head fake in the morning, head fake at night. Sorry bulls, it was the bears still standing at the end of this fire fight.
It was a sell-the-news day. The bears definitely won this battle, and with the Vix spiking to the HOD at the close, and the Put/Call ratio rallying like a rocket since the morning's low's (back to a 54 handle from 34), sentiment is clearly turning sour, rapidly. I'm building a large Vix position to hedge against downside risk, and shorting the Nasdaq to take advantage of the less experienced investors who always seem to buy the top. What are you doing?
Thanks for your time today guys! It was a fun day of trade. I hope everyone has a great night, and I look forward to another eventful day tomorrow. Cheers, Michael.
It was a sell-the-news day. The bears definitely won this battle, and with the Vix spiking to the HOD at the close, and the Put/Call ratio rallying like a rocket since the morning's low's (back to a 54 handle from 34), sentiment is clearly turning sour, rapidly. I'm building a large Vix position to hedge against downside risk, and shorting the Nasdaq to take advantage of the less experienced investors who always seem to buy the top. What are you doing?
Thanks for your time today guys! It was a fun day of trade. I hope everyone has a great night, and I look forward to another eventful day tomorrow. Cheers, Michael.
