92 replies to this topic

[redfoliage2]

This is the time to sell into pops, such as the one at the open today that was likely related to the options assignments over the weekend  ...........................

Edited by redfoliage2, 18 December 2023 - 11:02 AM.

[redfoliage2]

At this juncture with inverted VIX and VXN divergent to the indices, and the RSI for the indices all above 75 the risk is much higher for going long than the risk for going short ..................................

Edited by redfoliage2, 18 December 2023 - 01:58 PM.

[redfoliage2]

At this juncture with inverted VIX and VXN divergent to the indices, and the RSI for the indices all above 75 the risk is much higher for going long than the risk for going short ..................................

I meant the risk is high here for longer term investing, but no doubt it's a paradise for day traders...................

Edited by redfoliage2, 18 December 2023 - 03:10 PM.

[dTraderB]

"The Bank of Japan's policy decision and subsequent remarks from Governor Kazuo Ueda will dominate Asian markets on Tuesday and maybe give investors an insight into how wide the divergence will be between the BOJ and other major central banks next year."

[dTraderB]

Stage set for SANTA RALLY 20w3:

"And even though some Federal Reserve and European central banks officials have tried to push back against what they saw as excessive easing speculation in recent days, San Francisco Fed boss Mary Daly underlined the direction of travel at least.



Daly told the Wall Street Journal Fed rate cuts are likely be appropriate next year because of an improvement in inflation and there was a risk of the policy stance being too tight.



"We don't give people price stability but take away jobs," she said.



The comments will encourage bond bulls and may spur ebullient Wall St stock indexes into record territory.



Ten-year Treaury yields tested 3.90% again first thing on Tuesday, close to 5-month lows, with the so-called 'term premium' sinking back over the past week to its most negative since September.



Stock futures nudged up again ahead of the bell, with the S&P500 hitting 23-month highs on Monday and coming within 1.4% of new all-time records. The Nasdaq 100 got to within a whisker of new records too, with the NYFANG index of digital and tech megacaps soaring to unprecedented levels and more than double what it was on Jan. 5."

[dTraderB]

"Key developments that should provide more direction to U.S. markets later on Tuesday:
U.S. Nov housing starts/permits, Oct Treasury TIC data on flows and overseas holdings of U.S. government securities, Canada Nov consumer price inflation
Chicago Federal Reserve President Austan Goolsbee; Atlanta Fed chief Raphael Bostic European Central Bank , Bank of England Deputy Governor, Financial Stability, Sarah Breeden
U.S. corporate earnings: FedEx, Accenture, Factset Research"

[dTraderB]

"The San Francisco Fed president says rate cuts could be needed next year to prevent overtightening. Were acknowledging progress when progress is there, Mary Daly said in an interview."

[12SPX]

Another day up, another add.  I'm adding more as were up on our 8th week for a row and smooth it out to 4675 and 16720...  Best news is the higher call option sells have been working out amazing so far. 

[redfoliage2]

Well, it's still going higher due to the seasonality, but it's likely won't last for long  ...........................

Edited by redfoliage2, 19 December 2023 - 10:14 AM.

[redfoliage2]

The upside left is likely very limited before a reversal as SPX currently trading above the upper line of Bollinger Bands with RSI over 80 ....................

Edited by redfoliage2, 19 December 2023 - 11:16 AM.