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Posted 08 December 2023 - 08:53 AM
After hitting the bottom of the range yesterday it touched the top of the range today ............................
Nov NFP just out at 199K, much higher than the previous 150K. Likely another trip south today/Monday, and let's see if the support ES 4550 going to hold or not ................
Edited by redfoliage2, 08 December 2023 - 08:54 AM.
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Posted 08 December 2023 - 09:13 AM
Been trading back and forth last couple days and only adding to my long term Dec trade with pops like yesterday bringing my average up to 4542 as we move into next weeks expiration week. Gonna be interesting but the reaction this morning isn't surprising to me as bond yields have had a huge move down so not surprising were consolidating here. I think next weeks Fed is also going to see little change as they aren't in any rush to lower and the employment numbers this morning reveal that there's no rush so the market may not like what they say. Did start selling March yesterday with the pop though with an average ndx short of 16133 and 4622 ES so far and will add higher. These are unofficial though as I couldn't report yesterday as we were out walking around the strip lol!! Funny thing is we've been here all week and I still haven't gambled a cent lol!!!
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Posted 08 December 2023 - 09:48 AM
There we go average short on the March ndx a nice even 16150, 4640..... Love It that volatility is back in the 12's again and as I said on Monday I thought this week would be pretty flat to down so we'll see how it turns out here in the end with yields still moving higher, not lower....
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Posted 08 December 2023 - 10:05 AM
and another pop on a super strong sentiment number, that makes sense, average 16155, 4630 still.
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Posted 08 December 2023 - 10:13 AM
Might make 200 but for now average 16175, 4635....
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Posted 08 December 2023 - 10:15 AM
Oh and added my final Dec ES average rounding it out at 4550, next week is going to be fun....
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Posted 08 December 2023 - 03:41 PM
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Posted 08 December 2023 - 04:38 PM
Closed 1 NQ HEDGE LONG 16114.5
Holding 1 NQ & 2 ES HEDGE LONG
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Posted 11 December 2023 - 10:53 PM
Up - down - up - down...
Gone sideways going on 4 years - that resistance will break sooner or later. Will it coincide with an everything rally including commodities? With actual inflation much higher than the official number - and strong buyback activity - capital gains could continue to dominate dividend and rate gains. If companies have planned for an imminent recession their inventories could be low - what happens if that recession is late in arriving? More hiring - more production - more rally?
