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ST Bullish, Volatile Flatness


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#1 dTraderB

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Posted 07 May 2018 - 07:28 AM

ST bullish, volatile flatness will continue until SPX breaks out of 2580 - 2680 range

SPX 2645/50 is strong support - break below this on daily close will be severely bearish

SPX 2680.85 strong resistance, break above leads to 2720, possibly higher

 

Markets could be bullishly or bearishly sideways for some time.  

 

My probable scenario - attempt to go higher and then reverse



#2 dTraderB

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Posted 07 May 2018 - 08:13 AM

VIX manipulation continues.... up 4.5% while S^P is up 8



#3 dTraderB

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Posted 07 May 2018 - 08:15 AM

Note volume was low last week especially on Friday

There must be more participation - on addition to bots - for an IT rally



#4 Harapa

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Posted 07 May 2018 - 09:14 AM

Long VXX @ 39.70...3% S/L to be adjusted to breakeven once trade gains +3%



#5 redfoliage2

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Posted 07 May 2018 - 09:21 AM

VIX manipulation continues.... up 4.5% while S^P is up 8

On the other side this could be from the SPX price manipulation.  No matter what manipulations this market is going to be bounded by the wedge until it breaks out either way.  At this time it looks there will be more work to do inside the wedge.


Edited by redfoliage2, 07 May 2018 - 09:29 AM.


#6 Harapa

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Posted 07 May 2018 - 09:24 AM

Long VXX @ 39.70...3% S/L to be adjusted to breakeven once trade gains +3%

Aborted @ 39.85...waiting for SPX direction...



#7 dTraderB

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Posted 07 May 2018 - 09:31 AM

NO, not the SPX - but the options:

 

"he crux of the argument is that VIX derivatives — futures and options — are subject to potential manipulation. The VIX is calculated using options in the S&P 500 one month out, but the whistleblower says there are "important nuances." He says the calculation is not based on traded prices but on mid prices — the middle between the bid and ask. Crucially, he says, it does not require any trading activity for the VIX index to move — just posted bids and offers."

 

https://www.cnbc.com...o-sell-off.html

 

https://www.bloomber...lated-or-hedged



#8 dTraderB

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Posted 07 May 2018 - 09:34 AM

This week, in addition to daytrading, I am looking to buy VXX with a 38 handle or less and QQQ September PUTS if QQQ > 168

 

Watching that SHORT crude trade...... on a big rally as fear rises because of  the high probability of Trump's cancellation of Iran nuclear deal (Trump will not cancel it and fi he does then oil supply etc will not be affected)



#9 dTraderB

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Posted 07 May 2018 - 09:36 AM

Market is going nowhere, maybe I should play scrabble or will lose those games where they nudged me.



#10 Harapa

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Posted 07 May 2018 - 09:40 AM

 I am looking to buy VXX with a 38 handle or less

I am for a long VXX below 37...it may not happen this week...but than you never know...