Jump to content



Photo

"Breadth Indicators to Confirm a Bullish Market Trend"


  • Please log in to reply
13 replies to this topic

#11 12SPX

12SPX

    Member

  • Traders-Talk User
  • 13,101 posts

Posted 20 May 2024 - 08:49 AM

Markets so interesting here as it continues to ignore reality with zero volatility and call options screaming bullish meanwhile everyone is raising their earnings estimates now for the S&P to hit 5500 this year.  This is all possible of course but the problem is with no volatility and everyone ignoring rising bond yields, your setting up for a terrible result with the market moving down strongly.  Added a little to my short now at 5258 and 18446, I'll even them out with this rally to 5260 and 18450 and sit to add after Niviidea's earnings on Wednesday as I'm assuming this move is rising on hopes not reality.  Lets see if reality returns sometime this week lol!! 



#12 12SPX

12SPX

    Member

  • Traders-Talk User
  • 13,101 posts

Posted 23 May 2024 - 07:46 AM

There we go finally got the earnings and of course were good as expected.  Looks like the world is a perfect place with volatility moving well below 12 now, awwwwww.  Current p/e on the market is only around 28 now and everyone is a bull, just so perfect!!  Buy buy buy lol!!  The market is setting itself up for a fall now with another gap up likely and no volatility is never good so we'll see how the day ends.  I'm reselling my call options this morning and adding a little heavier to my short now averaging 5293 and 18862, I'll smooth it out over the day. 



#13 12SPX

12SPX

    Member

  • Traders-Talk User
  • 13,101 posts

Posted 23 May 2024 - 08:17 AM

There we go, going crazy all my trades were filled to give me an even 5300 and 18875 short.  Think I'll sit on that for awhile and nice to see my sold calls already showing a profit, think this is going to be an interesting day as I don't see anything except nividea up this much...



#14 12SPX

12SPX

    Member

  • Traders-Talk User
  • 13,101 posts

Posted 23 May 2024 - 09:27 AM

Moved back to the recent thread but just took a massive profit on my ndx trade for 6 points at 18869, sell higher later on.....