86 replies to this topic

[12SPX]

That was fun overnight, lots of selling and although the market has come back it looks like volatility will remain with interest rates well over 4% now as everyone realizes the Fed is not done yet.  The big question is how will earnings turn out this week as I think they are more important than where inflation is at right now.  My profit stop was hit overnight giving me a 26 point profit on my 4451 short I held over the weekend and am now doing another short build at 4435 for the cash open.

[12SPX]

Hmmmmm profit stop 4434 for the cash open, sell above....

[12SPX]

Interesting, was out for 1 point before cash open and now starting a short build at 4436....

[redfoliage2]

Big banks reporting on Friday and I see the market going higher into the earnings reporting season...........................

Edited by redfoliage2, 10 July 2023 - 08:41 AM.

[dTraderB]

BEARS lost this one quite early without even a token battle.

Maybe they want higher entry levels...

[redfoliage2]

BEARS lost this one quite early without even a token battle.

Maybe they want higher entry levels...

I see they need to cover before the CPI as it's very likely lower.  I'd expect a squeeze starting soon .................. .....................

Edited by redfoliage2, 10 July 2023 - 09:19 AM.

[12SPX]

Ill be surprised if there is much reaction to the inflation report this time unless it comes in hotter than expected.  Average short 4438, btw forgot to mention my weekly point profit total since loss on Friday, 183 points...

[12SPX]

profit stop 4437 sell above

[12SPX]

Out for 1 point profit and starting a new short build at 4438....

[12SPX]

profit stop 4435