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Thinking the same at least a small position
what time fractal do you usually use on spy for intra-day swings?
Seems like another indecisive day, maybe doji in the oversold territory? rally tomorrow with what ever number we get from n-farm payroll just to get smacked down with more selling beginning Monday afternoon. just a thought
Vix is also showing the same contraction on bb. Had a huge candle today on vix. First time in awhile its closed fairly decent. Volitility back on tap withen a week or so imo
Glad i didnt dump my puts on the gap up this morning. I did sell some of the position when it came back down. Took decent size loss on them because i bought in monday. Holding some still just a little easier if i can sleep. Think i will scalp day to day from now on. Stochs are just floating not giving me direction.
fwiw vix spike back withen the first hour of trade after piercing the bottom bb band and remains in tacked at the moment. hour chart
Like wise
Like you said the other day if there is resistance just jump over it. haha
Absolutely bet your at the point your not even surprised.
i would be little surprised if this doesn't fade fast since market internals are deteriorating and they cant manipulate breadth, this could be one of those moves the gets VIX jumped started.
Guess you have seen this racket before? Im holding EOM puts and i know they have me tempted to dump. But from what ive seen with monster gaps up like this its almost telegraphing what your saying. And smart money is loading everything they can..
CNBC to the rescue!
Damage control from yesterdays surprise comment haha
"Nothing has been decided," Fed Governor Jerome Powell said on CNBC of the central bank's Sept. 16-17 policy meeting. "I haven't made any decisions about what I would support, and certainly the (policy-making) committee hasn't."
And if you are on the fence you could imagine how the rest of us are, you have been spot on with market direction. It hasnt revisted oversold yet on ss daily since that wild gap up mania
Brutal everything is priced to perfection conf calls cant have any mistakes even if its a beat
Dis is getting slaughtered it was down 2 bucks i blink and the tape said -5 woah
Yeah u can tell equities markets got overrun after the fed statement it reacted hard but paused ran it right back up to vwap on peanut volume. Meanwhile bond market and dollar flew off its handle. They prob processing out of sequence trades. Gonna have pressure in the am
I would be surprised to see any major declines in china. If you cant sell its not a free market.
I do agree aapl and now disney might be the leading the way up or down bc they were the strongest in the dow.
Guess that headline caught algo's off guard. Shrugoff back up to vwap we go to unload
Federal Reserve Bank of Atlanta President Dennis Lockhart said the economy is ready for the first increase in short-term interest rates in more than nine years and it would take a significant deterioration in the data to convince him not to move in September.
“I think there is a high bar right now to not acting, speaking for myself,” Mr. Lockhart
Is sentiment still good news is bad or bad news is good? If its really good numbers i assume the fed likely will be back on for sept.
I think having the fed raise will do us all good. Clear out some room to push higher imo
Gotcha.. Stochs on the 5 are diving at the moment without the price falling seems like agonizing sideways day ahead..
YES! bring it the defiant SPY will prevail!
dont worry risk the deeper aapl dives spy goes higher. We just need apple to fall another 3 bucks to show any effect..
Your not kidding bet its not the first time
Vix only offers monthly expirations, vxx offers weekly expirations as well as monthly.
Everytime you post the new lows it takes off in a few days thx for the headsup!
Don't forget apple tanking helps it go up as well.
Catching up on market since i was away yesterday. I appreciate your analysis you were spot on before this played out. Thx
Concern over a market topping near its record is evidenced by $2.8 billion in outflows from U.S.-based domestic-focused stock funds last week, their second straight week of withdrawals, according to Lipper data.
"There's so much money piled up on both the bullish camps and the bearish camps. Companies have been buying back more stock than ever, and investors have been selling just as aggressively,” said Brian Reynolds, chief market strategist at New Albion Partners in New York.
Good non bias read from Reuters that is in line with what your saying.
https://news.fidelity.com/news/news.jhtml?cat=Top.Investing.RT&articleid=201507311807RTRSNEWSCOMBINED_KCN0Q52LP_1&IMG=Y
Chart looks great no worries keep buying* lots of puts
I pick and choose my battles, s&p Had a nice bounce off 200 however there is breadth issues with other underweight sectors. Heavyweight is carrying a load right now. Dow daily is couldnt break 200 today with that long wick it shouldn't have been a issue if all was well in every sector. Gl with your calls. Im on the sidelines with this one.
Think it will retest 213 as well. s n p seems To have the augusto although technically boderline weak. Other indencies dow looks like no matter what you throw at it will keep that 50 from closing in on 200 bill.
Lol spy is a deleware incorporated company. TA is in texas:p
Its out there just worded so the algo's dont pickup on it to dump yet....
Little ot here but i can remember our fearless leader in the wh tooting his own horn for lower oil prices.. Wonder if he gonna take a different stance
when this becomes a typical headline?
Shell to ax 6,500 jobs, cut spending to cope with lower oil prices
They can keep it range bound as long as there is bazillion shorts in the market all waiting for a crash but get squeezed on low volume pops bought up by algo's. Eventually MA will cross and that will end but that can be long time from now imo.
This upswing is crucial for bulls if we set a lower high before the next dip downtrend will commence imo
I see it filled on active trader pro..
Im hoping it doesnt gap that hard, it will be hard for dow iwm to snap back IMO. Spy is a different animal and seems to follow its on set of rules. What happen china? Last i heard they were locking traders up and flogging them if they sold. Guess they rather face prison then margin call on the house they put up as colleteral? Sad..
I agree on a possible relief rally atleast on s&p and NAS. But dow n russells are looking much weaker they might even spike futures in the AM mon tues ill use that opt to load more PUTs. Ill jump back in spy on anytops off a bounce calls here are risky imo.