I SPY with my little eye
a rally in the works, and not SPY die (part 4).
Dealers well hedged into June OPEX and E.O.Q.
20d SMA regained by bulls, what a view.
Look at it curl up like it did in March.
Bears crying "BUT QT starting soon!" - their throats parched.
Bears had their chance but have lost their grip.
Shorting, averaging down, only to close them as ES/SPY rips.
Supportive flows returning soon if not already.
Markets propped up by Gary's hands strong and steady.
When Vanna and Charm return from their vacation...
Will market participants shout in joy and elation?
We shall see, as the prices continue to forge...
some momentum upwards into the Summer of George.
----------------
For more insight into the Summer of George, please take a look at jam_croissant on Twitter and see his rationale for movements thus far in the markets.
20d SMA has been regained by bulls in this window of non-strength. I think that is telling of the power of support in the markets right now preventing further decline.
20d SMA is curling up, similar to how it did in March.
This could be the starting of a major rally upwards into EOQ and into July.
Seasonality favors the upside here, and seems fitting to explode upwards tomorrow as weekly options expire, which would catalyze a short covering rally into EOM.
Was this THE bottom?
In my long term view - no.
Short term - yes.
To how far the rally goes, we shall see. Keep an eye on that 20d friends... and stay safe.
Experienced traders can trade this to the upside.
If you are an investor, stay out.
a rally in the works, and not SPY die (part 4).
Dealers well hedged into June OPEX and E.O.Q.
20d SMA regained by bulls, what a view.
Look at it curl up like it did in March.
Bears crying "BUT QT starting soon!" - their throats parched.
Bears had their chance but have lost their grip.
Shorting, averaging down, only to close them as ES/SPY rips.
Supportive flows returning soon if not already.
Markets propped up by Gary's hands strong and steady.
When Vanna and Charm return from their vacation...
Will market participants shout in joy and elation?
We shall see, as the prices continue to forge...
some momentum upwards into the Summer of George.
----------------
For more insight into the Summer of George, please take a look at jam_croissant on Twitter and see his rationale for movements thus far in the markets.
20d SMA has been regained by bulls in this window of non-strength. I think that is telling of the power of support in the markets right now preventing further decline.
20d SMA is curling up, similar to how it did in March.
This could be the starting of a major rally upwards into EOQ and into July.
Seasonality favors the upside here, and seems fitting to explode upwards tomorrow as weekly options expire, which would catalyze a short covering rally into EOM.
Was this THE bottom?
In my long term view - no.
Short term - yes.
To how far the rally goes, we shall see. Keep an eye on that 20d friends... and stay safe.
Experienced traders can trade this to the upside.
If you are an investor, stay out.