Great play everyone on NIO (both ways) So the SPX week began with the aforementioned DIP to come and the structure we have is UNCLEAR, but with some good hints that suggest this wave-iv of minor iii has a little more down to go before you can say BTFD. SPX from OPEX Week Monday DEC 16 So yesterday NAILED the NQ "likely a-b-c" target and the FUTURES both broke the 5d MA for the 1st time in +2 weeks [...]
As I sent out Sunday morning, After updating the CheatSheets Saturday, here's where the RSI(14) pivots were: Over 80%: TSLA Over 70%: SHOP MSFT NVDA AAPL (near 80%) BKNG AMD C JPM BAC GLD DIA QQQ SPY Near 70%: SNAP MCD CMG GOOGL BABA AMZN NFLX FB TWTR MU XBI IWM Near 30%: BA SQ Of the "near RSI(14) @ 70%" names, ALL were at 70% a/o their HOD Friday with AAPL the [...]
Friday was a lot of fun and lemme just say... the DIP has never been more ready. Two weeks ago, we planned to see SPX 3205 and got it. Last week we planned to see 3235 - 3256 and got it. After updating the CheatSheets Saturday, here's where the RSI(14) pivots were: Over 80%: TSLA Over 70%: SHOP MSFT NVDA AAPL (near 80%) BKNG AMD C JPM BAC GLD DIA QQQ SPY Near 70%: SNAP MCD CMG GOOGL BABA AMZN NFLX FB TWTR MU XBI IWM Near 30%: BA SQ Of the "near RSI(14) @ 70%" names, [...]
Back from Thailand and I appreciate all the respectful condolences on both my private FB and from chat. On to the 1999 Style Blow Off: On the weekend, due mainly to the locked in (trapped LONGS) which now begin eclipsing their 12 month hold period from DEC 26, 2018 when we bottomed to that JAN 4 2019 BLAST OFF +5% move is the time frame where the LONG "1st water in the bathtub" money can be assumed to have gotten their [...]
As expected, activity was very light Monday (FAVORABLE FOR BEAR CALLS / BULL PUTS SPREADS) with the SPX intraday range posting the smallest of 2019: 5.48p. You can't possibly trade that regardless of how good you think you are. With how the sideways activity the last 8 sessions has affected the shorter time frame charts (like the sell divergence on the 1-2-4Hr charts we continued to negate and grind over last week), the same application is setting up [...]
Last week I threw out 4 ideas for collecting premium on BEAR CALL spreads through the holidays and 3 of the 4 are fine and dandy (GOOGL, AZO, BKNG) with TSLA the anomaly having closed 2x above 400 and now on a 5 day streak of closing above that 385 I shared stats about. TSLA will come, but the rollover and premium collection way up here in the 400s is even more beneficial. Here's a list of the best setups after scanning [...]
This week we have a FULL session Monday, a ½ session on Tuesday, CLOSED Wednesday, and then open for FULL sessions Thursday and Friday. Thus WED expires are on TUES DEC 24 due to the holiday and the Bond market is open until 2PM TUES. SPX: 7 consecutive sessions with a new ATH 9 consecutive sessions since overlapping a previous session LOD SPX ATH Friday made it just > +30% YTD (30.22%; 37.46% since DEC 26, 2018 LOW) JAN 4, 2020 MATTERS For [...]
SPX failed by just 0.65p to tagging the 161.8 retracement extension of the DEC DROP(3154.26 - 3070.33), yet both the ES (3211.15) and the NQ (8638.28) both eclipsed meaning its quite possibly aligned strongly with the 100/100 DECLINATIONS POWER celestial date to be placing in a top for minor-3 with this completing wave-5 of it. We're heading into QUAD WITCHING OPEX with a streak of 6 consecutive higher ATH placements on SPX and have yet to overlap a daily low [...]
One week from today, most of the developed world will be celebrating Christmas. One week from today, I will be arriving in Thailand, where they don't celebrate it, for the 15yr memorial of my wife and 2yr old daughter that were taken from me in the DEC 26, 2004 tsunami. In 2001, 2 days before the world trade center event, I arrived in Thailand to work with some hedge fund colleagues who shifted over there after we worked at [...]
There's literally NOTHING to add to what we've already covered on the weekend and yesterday after posting the smallest intraday range on the SPX (7.19p) yesterday. I looked back at the year and the other 5 sessions under 10p intrday ranges all came after the JUN 3 low so, needless to say, they all had no hints and all produced continuation for several days before any form of reversal. There's not only a sell divergence on the FUTURES 4Hr [...]
