8 replies to this topic

[dTraderB]

The Putin/Trump Summit rally can take this to new SPX highs but most likely those who have the power in the markets will render lots of calls totally useless by the end of OPEX week. 

Maybe both SPX targets will be it: 2880 and 2750.

 

My VXX and VIX indicators still haven't gone to BUY (SPX SELL) ; I await patiently for that to happen so I can add to my shorts. In the interim, daytrade ES and Crude has been quite good.  Lately, crude has been making some good moves up & down. 

 

GOLD has always found seekers of fortune but there seems to a go;d bull fever intensifying so I plan to look at the feasibility of a few trades there. 

[redfoliage2]

More likely the market will be up and down in the range of SPX 2700 and 2800 plus minus 10 points for the next two weeks.  Currently it's near or at a top.

[dTraderB]

I think there will be big moves, wild action this week. 

 

VIX was higher even when SPX was up; may not  only be because OPEX irrelevancies but also be other Options trades. 

[dTraderB]

I think there will be big moves, wild action this week. 

 

VIX was higher even when SPX was up; may not  only be because OPEX irrelevancies but also be other Options trades. 

[dTraderB]

I think there will be big moves, wild action this week. 

 

VIX was higher even when SPX was up; may not  only be because OPEX irrelevancies but also be other Options trades. 

[dTraderB]

I think there will be big moves, wild action this week. 

 

VIX was higher even when SPX was up; may not  only be because OPEX irrelevancies but also be other Options trades. 

[dTraderB]

I am almost convinced to close all shorts and go LONG after hearing this: President Trump said President Putin told him Russia never interfered in the US elections. 

 

[dTraderB]

Thanks to the bulls for that rare lunch hour ES trade where raked in a grand total of  4.5 points !!

[dTraderB]

Tom McClellan: Friday Reveals Event Risk Complacency

Tom McClellan |  July 16, 2018 at 09:42 AM

 

By going up on Friday, the SP500 made it now 6 Fridays out of the last 7 weeks.  And that one down Friday was on June 15, which saw the SP500 fall by only 2.83 points, so it was just barely a down day.  This is not quite as compelling an indication in the chart as if we had 6 in a row, but it is usually a pretty good sign that traders are not at all worried about event risk popping up over the weekend and biting them.  And as every good contrarian knows, that is when risk is most likely to appear.

 

Chart here:

http://stockcharts.c...omplacency.html