Rotation on watch as the CPI will set direction for the remainder of this week's trading.
See chart - for small cap rotation. Interesting weekly candle closing back above uptrend line. Apex mid September.
... for a .37 debit. Comments: Another one I rolled, collecting credits along the way. (See Post Below). 5.72 in credits collected - .37 debit = 5.35 ($535) in profit. Still have the August 27th 200, September 3rd 198, and September 10th 203 on.
... for a .35 debit. Comments: Taking profit with 7 days to go. I rolled this contract several times and collected a total of 7.19 in credits along the way. 6.84 ($684) profit realized in total by closing here. I'll look to re-up on weakness toward the bottom of the range with an accompanying pop in implied volatility.
Happy Friday, folks! Another week has come and gone, and US Futures (sans the Russell) are glued to the ATH's. Will the nightmare ever end? We drifted higher all day yesterday, only to see yet another short squeeze into the close. The equity inflows are absolutely relentless, and with today's NFP report blowing away expectations (943k vs the 925k expected), and...
Volume shelf + STOCH MTM RSI at near 0 about to cross back up
AMEX:IWM Possible Scenario: LONG Evidence: Price Action, inverted hammer candlestick TP1: 221$ Call options 20th Aug , strike 223$ *This is my idea and could be wrong 100%.
Trade Idea: 8/6 410C over 400 BID/ASK: 3.20/3.30 Levels above 400 are 404, 410, 416
RTY has successfully executed a linear regression crossover on the daily period (where the 14 period linear regression line crosses the 30 and confirms by also crossing the center ribbon 0.2, 14 STDV BB). RTY has also backtested the crossover without breaking through it (yet). We have an excellent entry here as well as a clear place to exit the trade if the...
(Opinion)
This Pattern has been the name of the game for the last week as the inverse H&S pattern did not break with the volume needed for a sustained move. The juxtaposition between NAS and RTY looks to continue. Jobs numbers on Friday should give direction.
... for a 2.02 credit. Comments: Selling the 16 delta put in the expiry nearest 45 days until expiry to emulate dollar cost averaging into small caps. Generally, take profit on approaching worthless or take assignment of shares, sell call against.
new line in the sand. The market is digesting the GDP miss and the post tech earnings hang-over with AMZN being a bit light. A back test and hold of the inverse neckline will be on watch for rotation. OR will a correction in price ensue opening up some ranges?
Bitcoin (BTCUSD) daily RSI is overbought (we appear to be rolling over), and we're at 21EMA (w) resistance, as well as retesting the previous high. The bulls may struggle to breach this resistance level, setting us up for a leg lower toward 30k support as early as next week. Hold on to your hats as the stars align for a risk-off sh*tstorm in August across the...
Looks like the bond market knows something stocks don't (again). Same divergence here that we saw running up to the March 2020 crash. We're looking at SPY/M2 compared to the US10Y yield (in white). The last time the 10Y yield was in free fall, stocks continued to climb, ignoring the signal, only to crash a couple months after the divernegce began. Let's see what...
After another run around yesterday on taper talks by Fed Chair, Jerome Powell, global markets are screaming higher, and headed back for their ATH's. As of 8:30AM, the Dow was up 0.34% to 35,051.80, the S&P500 is up 0.18% to 4,408.40, the Russell was up 0.66% to 2,240.10, and the Nasdaq was flat at 15,018.10. China convened a meeting with top banking officials...
Jobs numbers at 8:30 AM will set the tone for the rest of the week. RTY has shown strength at the bell followed by a dip that coincides with NAS mid-morning recoveries. The 10 Year Note gained to 1.259%, but seems to be reluctant to make a run to the upside. With tech earnings winding down will this RTY pattern be the rotation vehicle for a bit more mega-cap...