Looks like Bitcoin once again led the way when it failed to hold the 20K pivot.
Laughing hysterically at the CPI print which shows energy at plus 10%. When crude and gasoline are both down well over 20% from the June highs. So not sure what day in June they actually measured that.
In any event, as long as Rusty stays under the 1720 to 1730 area, bulls are still potentially in trouble.
Critical Week ahead: Inflation report, Earnings season begin, China COVID outbreak...
Started by
dTraderB
, Jul 10 2022 09:56 PM
134 replies to this topic
#31
K Wave
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Posted 13 July 2022 - 07:43 AM
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#32
K Wave
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Posted 13 July 2022 - 07:43 AM
* mobile post delay duplicate
Edited by K Wave, 13 July 2022 - 07:44 AM.
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#33
12SPX
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Posted 13 July 2022 - 08:01 AM
profit stop 3761 for the cash open, buy below....
#34
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Posted 13 July 2022 - 08:08 AM
Got my August calls sold nicely last week and started selling my August puts this morning with this sell off. Don't forget should be at least higher than 3700 by expiration Friday no matter what goes on which is going to make interesting for August!!
#35
pdx5
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I want return OF my money more than return ON my money
Posted 13 July 2022 - 08:09 AM
Looks like Bitcoin once again led the way when it failed to hold the 20K pivot.
Laughing hysterically at the CPI print which shows energy at plus 10%. When crude and gasoline are both down well over 20% from the June highs. So not sure what day in June they actually measured that.
In any event, as long as Rusty stays under the 1720 to 1730 area, bulls are still potentially in trouble.
They are using June data, not July data to compute inflation.
"Money cannot consistently be made trading every day or every week during the year." ~ Jesse Livermore Trading Rule
#36
K Wave
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Posted 13 July 2022 - 08:10 AM
If this drop is really just about "inflation", then it should reverse hard to the upside...as inflation as we knew it is dead as a door nail.
But there may be other more sinister forces at work here...so with the current configuration of the Rusty daily chart, Rusty is gonna have to SHOW ME that it is actually capable of completing a turn to the upside here...
A LOT of air gap underneath that chart if it fails to reverse here.....
See what TSLA looks like after the open (just for you SPX)
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#37
K Wave
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Posted 13 July 2022 - 08:16 AM
Looks like Bitcoin once again led the way when it failed to hold the 20K pivot.
Laughing hysterically at the CPI print which shows energy at plus 10%. When crude and gasoline are both down well over 20% from the June highs. So not sure what day in June they actually measured that.
In any event, as long as Rusty stays under the 1720 to 1730 area, bulls are still potentially in trouble.They are using June data, not July data to compute inflation.
Could also be due to some lag...but Energy was DOWN in June.
Gas
Oil
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#38
K Wave
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Posted 13 July 2022 - 08:18 AM
And Nat Gas hit even harder hit than the 2 above.
In any event, as usual, the peeps will be screeching about what is in the rearview mirror...
Edited by K Wave, 13 July 2022 - 08:19 AM.
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#39
K Wave
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Posted 13 July 2022 - 08:22 AM
Rusty 1730 area is BIG...and failing to hold it leaves Rusty STILL in solid downtrend...
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#40
12SPX
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Posted 13 July 2022 - 08:29 AM
Commodity prices are way down, it just needs to work through the system and companies decide if they are going to gouge or not but I'm thinking with the slowdown that is coming things will change fast. I'm still sticking with my belief that they will only raise rates one more time then they'll be done!!
