Welcome to a new week traders, I would expect some consolidation up here today and then a continuation. Hard to tell when that continuation will come, but I would look at the level of 4408 underneath as the place where I wouldn't want to be looking for longs anymore. Think of that level as the give up point (for me). I am staying long here to try and be long...
Hey traders, Market has gone straight up since the FED announcement and we are getting into that zone where everyone thinks it's gone too far. I would caution against this kind of thinking, as overbought can become 'more overbought'. We have seen this countless times in this FED trade. Better off staying long and "Ride 'er til she bucks ya"
Good morning Traders! The market liked the FED minutes from yesterday, and the market has gone up about 80 points from the lows with little/no pullbacks at all. I would like to see what happens when we hit 4110 above. Do we fall back in? If we do, the target immediately becomes 4350 again for me. If we move higher and don't fall back in, then look us to...
Morning Traders... Another FOMC announcement to watch for today at 2pm eastern. Market is stuck to 4350 with low-ish volume, which is showing a 'wait and see' approach. If i'm looking at a profile for the month or so, it appears there is some room to fill in the profile lower. I am not sure that we will do that, but I certainly dont want to be fading a move out...
Hey Traders! Market still feels heavy even though we are trading in this big developing zone. Yesterday was another day that we attempted higher in the AM and were unable to hold on, just to see the market come falling back almost 100 points from top to bottom. I think the volatility is here to stay and we will continue to see the large swings like we did...
Morning Traders, I am looking for this day to shape up as more of a back and forth type of affair. Volume overnight in line with the normal 20 day average, but after a volatile week, I would expect the afternoon today to be fairly quiet. Look for the areas I outlined in the video today.
Hey traders, Start of a new month and new quarter and we still see the whips in the market. I think the volatility is here to stay as it appears the market is now having a really tough time holding onto higher pricers. There is some options expiration burnoff again today, so it will likely be a noisy open again. I'd be careful of being short if the market...
Morning traders! Remember that today is the last trading day of the month and quarter. There is also Options Expiration today (OPEX). Couple this with a few days of wild trading previously, I think we are in for another day with some wild swings. Be patient and look for breaks of 4390 and 4340.
Hey Traders, Market hit value low from the last time we were down here, and is chopping around a bit now. I would be very careful of another move lower below the 30 area. Remember that it's the end of month and end of quarter flows that need to be accounted for in the next two days. The month has been negative and the quarter has been marginally positive, so...
Hey traders, Weakness overnight I think puts us in a tough spot here. I expect to see some buyers try to defend 4390-4400 area. If they are not able to do so, I would look for a nasty down move. We are in negative gamma territory in Nasdaq and we are seeing a shift out of big tech and into the 10 year note. What does that mean for us? Well, if NQ can sustain...
Hello Traders, It's a new week and the FOMC stress is in the rear view mirror. What does that mean for the markets? First, I think volatility will be crushed this week. I do not anticipate seeing the whips in the market that we saw last week, nor the weekly range. When the volatility is crushed, we usually get those markets that crawl higher, slowly! I am...
Good Morning Traders, Low volume looking kind of day today that I am going to be playing as a more neutral day today. I see 4440 above and 4390 below as the frame of the market today. Good luck!
Morning traders! We finally have the FOMC behind us and it was "good news" for the markets. Good news because the taper will be later than originally expected. I would look for a run into 4437 to see some resistance. Good luck out there
Hey Traders... Really big trading day today as the FED event will likely cause a directional move in this market. I am going to stay out until after the announcement, as I think it will be more chop than anything. I don't imagine any big trading desk (market movers) to be taking a big stand in front of the event. Stay flexible and don't chase the first move...
Good morning traders and welcome to a new week! Market looks ahead to the FOMC announcement this week, where the consensus (from what I've read) is that they will announce a taper starting in November. If this is the case, I don't know that we will see much reaction. However, if they announce a taper that will start before or after November, I think you will...
Good morning traders! We are only a few trading days away from a big FOMC announcement (next Wednesday). I have seen some market pundits talking about a big move starting on Monday next week, but I"m not sure I see that happening until there is more clarity from the FED. I will continue to watch for signs of strength, as I want to be on the long side until...
Longs came back in midway through the day yesterdya, and it will continue to be jockeying for position for FOMC next Wednesday. I'm going to err on the long side, but it will probably be more of the same...Chop back and forth.
Hey Traders, I am trading the December 2021 contract now so make sure if you are trading the older contract, you are aware that it expires next week. We are pinned on the new contract to this 4440 area and I imagine that this ends up being the "middle" as I think we will have a pretty active trade today on both sides. Don't get carried away with a move in...