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ST Bullish, Volatile Flatness


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#11 redfoliage2

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Posted 07 May 2018 - 09:43 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

It's true about VIX manipulations thru options and modifying the formula.  SPX also can be manipulated thru the overnight futures market.  I still think the top was in and the bottom of the wedge will be tested soon or later regardless the manipulations.  The bottom will be broken when the tariffs against Chinese imports are implemented.............


Edited by redfoliage2, 07 May 2018 - 09:48 AM.


#12 Harapa

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Posted 07 May 2018 - 10:26 AM

Short VXX @ 40.00...3% S/L to be adjusted to breakeven once trade gains +3%


Edited by Harapa, 07 May 2018 - 10:31 AM.


#13 dTraderB

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Posted 07 May 2018 - 11:00 AM

Extremely jittery market, flatlining, going nowhere, for now, but quiet markets suddenly explode!

 

Basic logic dictates that if the bullish momentum from low-volume Friday cannot be maintained then the markets will go down. 

Similarly, if the bears cannot take advantage of any pullback then the bulls will capitalize on any weakness.

 

But, there seems to be a lack of enthusiasm, and courage, on both sides after weeks of battling in a 100-point SP range.



#14 NAV

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Posted 07 May 2018 - 11:14 AM

Extremely jittery market, flatlining, going nowhere, for now, but quiet markets suddenly explode!

 

Basic logic dictates that if the bullish momentum from low-volume Friday cannot be maintained then the markets will go down. 

Similarly, if the bears cannot take advantage of any pullback then the bulls will capitalize on any weakness.

 

But, there seems to be a lack of enthusiasm, and courage, on both sides after weeks of battling in a 100-point SP range.

 

After a 70 point breathless rally, a 10 point sideways move is more aptly called a consolidation. You are reading too much into it. Above SPX 2683, a trending move is very likely to begin. Time to throw away the oscillators and focus on price trends.

 

2683 is the number to watch. The jury is still out on that.


"It's not the knowing that is difficult, but the doing"

 

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#15 dTraderB

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Posted 07 May 2018 - 11:27 AM

Thanks, NAV. What is your SPX support level?



#16 NAV

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Posted 07 May 2018 - 11:34 AM

Thanks, NAV. What is your SPX support level?

 

SPX 2654 is my trend support for today. Anything above that is bullish for today and dips should be bought. 2683 is critical resistance and above that the market should not look back.


"It's not the knowing that is difficult, but the doing"

 

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#17 Steaktaco

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Posted 07 May 2018 - 02:00 PM

Where does the 2683 number come from?



#18 dTraderB

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Posted 07 May 2018 - 02:29 PM

oh, finally, thanks to President Trump, 4 good day trades, 2 in ES and 2 in Crude. 

As I mentioned in one of posts in this thread I was looking out for a short crude trade ..... but not for this reason! 

Crude was up because of the Iran tensions and one would have expected it to go up again after the announcement of when the Iran announcement will be (tomorrow) but crude actually fell! 

Anyway, Trump will not cancel the Iran deal, he will bluster and shout and scream, but the deal will be intact, for now ---- so buy! 

 

ES_CL_1m.jpg



#19 Harapa

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Posted 07 May 2018 - 02:41 PM

Short VXX @ 40.00...3% S/L to be adjusted to breakeven once trade gains +3%

Position will be closed EOD



#20 Harapa

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Posted 07 May 2018 - 02:46 PM

 

Short VXX @ 40.00...3% S/L to be adjusted to breakeven once trade gains +3%

Position will be closed EOD

 

Covered @ 39.85