119 replies to this topic

[dTraderB]

Skittish market, many are selling but market still strong. FED has to cut soon if econony weakens. My FF is market makes new ATH in May and then weakens until FED cut rates
Sell in May but stay for the market decline.

[dTraderB]

Very BULLISH POLL! 64-36!
TOO BULLISH?

Helene Meisler (@hmeisler) posted at 1:57 PM on Sat, May 04, 2024:
The results are in and folks lean bullish for the 3rd straight week. This is the longest streak since November. It is also the largest spread (up to down) since October 6th)
Thank you so much for voting! https://t.co/c3Bav4xa6b
(https://x.com/hmeisl...0010386581?s=03)

[dTraderB]

I am small net long. Market should pull back a bit & then rally unless major geopolitical event.


Jeffrey A. Hirsch (@AlmanacTrader) posted at 5:43 PM on Tue, Apr 23, 2024:

Since 1950, election-year Mays rank rather poorly, #9 DJIA and S&P 500, #8 NASDAQ and Russell 2000 and #7 Russell 1000. Average performance in election years tepid, ranging from a 0.4% DJIA loss to a 0.6% gain by Russell 2000. Aside from DJIA, the frequency of gains in election

https://t.co/YGifiYmFp3
(https://x.com/Almana...2488048969?s=03)

[dTraderB]

"The Kobeissi Letter (@KobeissiLetter) posted at 11:18 AM on Sun, May 05, 2024:

Key Events This Week:

1. EIA Short-Term Energy Outlook - Tuesday

2. 10-Year Note Auction - Wednesday

3. Initial Jobless Claims data - Thursday

4. MI Consumer Sentiment data - Friday

5. Total of 8 Fed speaker events this week

6. ~20% of S&P 500 companies report earnings

A relatively quick week ahead of us."

[dTraderB]

Highest since January 2024!
https://www.mcoscill...t_breadth_data/

[redfoliage2]

Sold before May and now back to replay ........................

Edited by redfoliage2, 05 May 2024 - 05:51 PM.

[redfoliage2]

Sold before May and now back to replay ........................

After the Fed meeting the 10Y bond yield reversed the course and so the Street turned bullish on stocks as they had sold in Aprill.  I believe they got back in only a few days ago.  So we are likely to see SPX 5265 before long if not new highs.  Don't fight against their game .......................

Edited by redfoliage2, 05 May 2024 - 09:09 PM.

[12SPX]

Slow start, lots of Padel yesterday.  Doesn't matter as futures are up anyhow living on hopes and dreams as the economy continues to get closer and closer to the cliff that is starting to slide down so rally while you can....  Not with ya d on seeing a new high for the market as I trade from expiration cycle to cycle and we are getting to close to my initial number highs for this cycle that ends on the 17th!!  Will be interesting to see if we hold these highs after the cash open as we move along but for now average short 5135 and 17920....

[dTraderB]

Closed 1 es long 5180

Short 1 es
Flat nq
Want to close a few CALLS, STOCKS
Will close 1 nq long above 18125

SHORT 1 USDYEN 153.705

[dTraderB]

Key developments that should provide more direction to U.S. markets later on Monday:
U.S. April employment trends, New York Fed's Global Supply Chain Pressure Index for April
New York Federal Reserve President John Williams, Richmond Fed President Thomas Barkin speak. Swiss National Bank Chair Thomas Jordan speaks
Chinese President Xi Jinping in France as part of week-long visit to Europe
U.S. corporate earnings: Tyson Foods, Loews, Microchip Technology, Axon, Vertex Pharmaceuticals, Realty Income, Simon Property, FMC, International Flavors & Fragrances, Progressive Corp, Williams
U.S. Treasury auctions 6-month bills