So after softness the majority of the day we finally got to the main event. The fed, and what they think for their June policy meeting. And literally nothing changed. Outside of that we're starting to see riskier assets soften up and moves back into havens (Including tech stocks). With yields being so low names like AAPL, AMZN, GOOG, and MSFT are where the money...
I'm going to keep this one relatively short just because i feel like the writing is on the wall for what i've been feeling around the market the past week. I'll provide three pieces of evidence and then get into the charts. One: "Rpbinhood traders cash in on the market comeback that billionaire investors missed" www.cnbc.com Two: "Warren Buffett is ‘an idiot,’...
NBER: We're in a recession. The record 10 year bull market is officially dead. Market: Bet. I don't even know what to say. This market is so void of rationality and logic that any type of TA is essentially worthless. We're entering in my opinion a new mania stage with the death of capitalism as we know it and the advent of corporate socialism to a degree we've...
That was aggressive. I don't really have much to say besides it looks like what i was seeing yesterday in the markets was us getting frontrun. Not sure how you frontrun jobs numbers but for VIX and price to be down majority of the day today as well as the 10 yr for as far as it came down; it looks like traders were closing out haven positions to either reduce...
Chart speaks for itself. The daily looks like it may be printing a bullflag currently.
Don't get caught holding the bag. Something is wrong in the market. I'm not sure what it is, and i can't put my finger on it but the day to day behavior is the past week or so has been strange to me. We've had little to no institutional participation outside of algos who have been aggressively buying every dip anytime there has been one intraday. But it's almost...
And the short squeeze is real. There were virtually no sellers in the market today. Starting late yesterday we saw a huge infusion of buying in the last 15 mins which was continued overnight and into the early morning today. That continued virtually all day with a bounce off of $312.10. And any selling that did enter the market was again aggressively bought up...
At least until the last 20 mins of trading.. Today we saw more of the incoherent price movement that we've seen since Friday. And to me it's feeling a little toppy. Especially since we've seen such low volume and participation the algos essentially take the market where the quants want. The overall sentiment in America, not even the market, is uncertainty. And...
Hell of a news flow, right? I have never traded such a volatile news cycle in my life but the markets want to keep their bulletproof nature. Friday: untradable. It seems like the markets are really only reacting pessimistically to the China news. Which is mind blowing to me, but whatever. With what looked like the start of a solid pullback with a break of $302,...
Afternoon. If you trade intraday the past day and a half of trading have been pretty good to you if you had a bull bias. From the lows to the highs today was about $10.00 or 100 S&P handles. On the smaller TF's we literally had a perfect uptrend from the lows yesterday to the highs today including a playable gap fill this morning and clear break of the trendline...
If you trade on the smaller TF's it's clear that today was a pretty epic fight between the bulls and bears. We started the day with ANOTHER rejection off of $302 and a shot at the gap that we had just printed. With extended sell pressure we finally broke back into the gap we printed YESTERDAY at open and it was looking like a clear cut rejection off of the...
So after much elation and what seemed like bottle popping all day we got a pretty serious rejection the last hour of the day after trading in an incredibly tight range the majority of it. We opened up, and immediately got rejected from resistance at $302. But we meandered just below it all day as it looked like we were going to be consolidating for another move...
Another interesting day today. It seemed like we were seeing big money cycle out of tech stocks again dragging down the broader market but IWM and small caps showed relative strength. We also retested the top of the channel again today but found good support. Strangely metals sold off pretty significantly today as well, but not bonds. Which is interesting to say...
Where price levitates and traps all shorts. Melt up inc? Today we finished clearly above the channel after a surprise turn around at 4 A.M EST in the futures market.. Can you say PPT? Melt up? I honestly think what we're seeing is a pretty decent big money short squeeze. If you were following my posts last week i noted that we were seeing big money cycle out of...
Not entirely sure what happened but the last hour of trading we got an infusion of volume, and low and behold, it was sell volume. After retesting $294 this morning i thought we were going to just consolidate and essentially bull flag going into the close for an inevitable shot at $304. But something must have popped the algos because the last two hours we had...
Don't pop that champagne just yet bulls. Looks like the bull case won out huh? I mean i know i cited Jpow and irrationality as part of the thesis but geez. We haven't seen a 100 point SPX day since we got a confirmed reversal back in late March. Majority of that was in the overnight session after Jpow went on 60 minutes and basically, through his teeth, said...