86 replies to this topic

[dTraderB]

This market reminds me of Dotcom bubble & 2008.... dip buyers swarming to buy every dip. Goes down for most of the day and then rallies.

BUT, I think the FED speakers will talk it down. ES 4300 target by Friday 4pm.

POWELL

Average short 4128, soon to be 30....

[dTraderB]

POWELL visits the politicians whose questions/comments are mainly unbearably childish

Key developments that could provide more direction to markets on Wednesday:
Japan tankan survey (June)
BOJ Governor Kazuo Ueda speaks
Fed Chair Jerome Powell speaks

[dTraderB]

Guys, let us do the POLL
I just voted

https://www.traders-...ednesday-62123/

[dTraderB]

These indicate a shallow pullback.... not a reversal, as yet.

 

https://www.marketin...e-decline-ratio

[dTraderB]

No new NEWS: POWELL has nothing new to say

Bullush

[dTraderB]

Market tells FED: F OFF

"The Fed has been trying to talk this market down," says BNY Mellon Wealth Management's Alicia Levine. "In the end, the equity market has simply ignored it" trib.al/dluZ3T2

[12SPX]

This market reminds me of Dotcom bubble & 2008.... dip buyers swarming to buy every dip. Goes down for most of the day and then rallies.

BUT, I think the FED speakers will talk it down. ES 4300 target by Friday 4pm.

POWELL

 

Average short 4128, soon to be 30....

 

Yes I agree, with big rallies then back to sideways and down.  Was interesting watching a couple bulls pointing out how were in a bull market now because were +20% off the bottom.  A rational or common sense analyst basically said, "duh",,,,,, you're going to have a big rally off a bottom but percentage wise it means nothing, what matters is if its the whole market is moving or not to say its a true bottom for sure or not.  I think the same, having the "magnificent seven"lift the indices is great but doesn't mean we're back in a bull market yet and more like a relief rally.  As everyone knows I don't believe a true bull market is established until you see brand new highs and I think we're a ways from that just yet.  Charles Payne was pointing out how the market goes up more than down in time which is true as it has been easy being a bull since 1987 so I say "duh" however,,,,,, after 2000 it took over 15 years to make new highs and that's the type of market I think we're in now so we'll see. 

 

I'll mainly just keep selling options so doesn't matter and right now and right now there are some very pricey call options out there right now!!  Don't think this volatility index actually going down is a good thing either as the market is setting up for a sharp spike down.  One thing I also think though is we could remain in the grind mode with sharp corrections if the magnificent seven don't sell off to much.  Either way should be fun with my short build from 4428, not 4128 lol!!  Maybe we're gonna hit that level sooner then later lol!!! 

[12SPX]

Out at 4420 for a 7 point profit will start a new build a little higher.....

[12SPX]

whoops sorry 8 point profit....

[dTraderB]

ES 4415 HEDGE LONG

WILL ADD NQ HEDGE LONG BEKOW 15150