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Time runing out on BULLS - DEBT CEILING hanging over market


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#1 dTraderB

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Posted 14 May 2023 - 04:34 PM

"US DEBT CEILING DISCUSSIONS TENTATIVELY SET FOR TUESDAY - NBC"

I will be shocked if ES RALLIES ABOVE 4200 unless DEBT CEILING issue is resolved. I am still net long but will go flat soon unless ES 4200 is taken out.

There seems to be a new market pattern recently: DOWN or flat for most of the day abd then UP into the close.

#2 dTraderB

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Posted 14 May 2023 - 04:38 PM

Her poll is more bearish than I thought
58-42 for the BEARS.

Helene Meisler (@hmeisler) tweeted at 1:04 PM on Sat, May 13, 2023:
The results are in and folks are leaning bearish, the exactly same spread they were four weeks ago.
The ensuing week saw us down ALMOST 100 points before rebounding to be up 36 points on the week.

Thanks for voting! https://t.co/CooHSw1TeV

#3 dTraderB

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Posted 15 May 2023 - 06:03 AM

Difficult market, prefer to DAYTRADE ONLY...
Want to go FLAT today.

#4 dTraderB

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Posted 15 May 2023 - 06:56 AM

NYT
The week ahead
With the clock ticking down to the X-date when the U.S. government runs out of money to pay its bills this could be a pivotal week in the debt-ceiling talks. Also, the regional banking crisis will be in focus at a series of hearings. And the spending power of consumers will be a big focal point of earnings and of data releases.

Heres what to watch:

Tomorrow: Greg Becker, Silicon Valley Banks former C.E.O., and two former top executives of Signature Bank are expected to testify before the Senate Banking Committee about why the lenders collapsed. Expect similar questions of Michael Barr, the Feds vice chair for supervision, who is set to appear before the House Financial Services Committee.

Meanwhile, Home Depot and Baidu report earnings. And retail sales data is set for release.

Wednesday: Cisco, Target and Tencent headline the days earnings reports.

Thursday: Walmart and Alibaba report results.

Friday: Foot Locker caps the flurry of retailer earnings results. Also, Deere reports.

#5 dTraderB

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Posted 15 May 2023 - 07:00 AM

I thought the 14th AMENDMENT provided a last resort move for BIDEN...

"Debt Ceiling Takes Center Stage as Biden Prepares for G-7
Lawmakers head into this week facing another crunchtime on an agreement about the nations debt ceiling. Democrats appearing on the Sunday talk show circuit threw cold water on some ideas at President Joe Bidens disposal, including invoking the 14th Amendment to continue raising debt.

Sen. Chris Murphy (D., Conn.) told NBCs Meet the Press using the 14th Amendment, a largely untested legal strategy that hinges on a phrase saying the validity of the nations debt should not be questioned, takes the responsibility away from lawmakers. We should do our job, he said.
President Joe Biden said Saturday talks were moving along as he and the top four lawmakers in the Senate and the House prepared to meet again at the White House after postponing a Friday meeting. That meeting is now scheduled for Tuesday, NBC reported.
Deputy Treasury Secretary Wally Adeyemo brushed off a question about invoking the 14th Amendment, telling CNNs State of the Union on Sunday that the only solution to the current problem is for Congress to raise the limit. An estimated deadline is as early as June 1.
Treasury Secretary Janet Yellen told The Wall Street Journal at a G-7 meeting Saturday in Japan that there are some signs of agreement. The Congressional Budget Office has said the X-date on which the government runs out of options is possibly mid-June.
Whats Next: Biden is expected to leave Wednesday for the G-7 world leader meeting in Japan despite earlier last week saying he would consider postponing the trip amid the debt ceiling standoff, White House press secretary Karine Jean-Pierre told reporters."
- BARRON'S

#6 dTraderB

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Posted 15 May 2023 - 07:41 AM

US MAY EMPIRE STATE FACTORY INDEX FALLS TO -31.8 (lowest since Jan.2023), EST. -3.9 - BBG
*The orders index also slid by the most since April 2020, hitting the lowest level since the start of the year. The shipments gauge plummeted more than 40 points.

#7 12SPX

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Posted 15 May 2023 - 07:51 AM

Whew rough night of sleep not sure why lol!!  Market still feels heavy to me within the grind mode so looking forward to lots of volatility this week with calls still a little on the pricey side and bonds edging up again.  Did get some nice fills overnight to bring my short average to 4140.  This is an expiration week and were no where near my numbers so could see some more upside but again, likely lots of volatility.  Think d is right about the debt ceiling meetings as I'm sure they'll get nothing done this week either and that will also weight on the market.  All over the place this morning just like the market lol



#8 12SPX

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Posted 15 May 2023 - 08:37 AM

profit stop 4139, sell above....



#9 K Wave

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Posted 15 May 2023 - 08:41 AM

See if bears can now HOLD 285 on NVDA

 

 

 


The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy

 

 


#10 K Wave

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Posted 15 May 2023 - 08:43 AM

Dow continuous trying to make the hourly transition back into bear mode....

 


The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy