It's obvious that the big boys are running a different computer algorithm, look at the trading today. Straight channel down, no panic selling or buying. Usually only happens upwards, now we're seeing it in the downward direction.
In any case, failed pennant breakout on the intraday chart, expecting a down day Monday. Market will continue to set new lows before bouncing up.
In any case, failed pennant breakout on the intraday chart, expecting a down day Monday. Market will continue to set new lows before bouncing up.
Note
SPY puts have a higher premium than calls now. We know which way the market expects to move.Note
marketwatch.com/story/investors-flee-us-stock-funds-at-record-pace-lipper-2018-12-14Record outflow of money out of the market this week. Smart money is leaving the market.
Note
When the market goes down, people dump their ETFs and mutual funds on Fridays and Mondays. That being said, I expect a reversal tomorrow or Wed (Fed meeting), so I flipped all of my puts and I'm all cash now.Might be room for one more down day before the Fed meeting though, or at least a big gap down.
Note
Obviously the down channel is broken, markets are rallying. Funny thing is, I've never see the market rally 300 pts (DOW) before an expected rate hike.People are really counting on the Feds to change market direction. I expect the rally to be very short lived, $265 gap close on SPY.
Note
Ouch.Note
You would think these idiots would turn their computers off after losing so much money. They don't seem to realize that they can't pump up the market with futures with this much outflow. SPX up 9 pts already.Almost guaranteed at this point that the market will go down on Friday. Retail investors are gonna cash out before Christmas break, dump their mutual funds and 401k. Mutual fund selloff always happen on Fridays and Mondays.
If the market goes up tomorrow, I'm buying puts at the end of the day. Probably XRT puts since I expect NKE earnings to tank retail.
Note
SPY appears to have hit the lower trendline on the intraday charts. Looks like we're bouncing up.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.