51 replies to this topic

[redfoliage2]

 

Likely it's going to be bought on the rumor and sell on the fact

Let's see if the profit taking does not take place in the afternoon it may well be deferred to tomorrow as the CPI data showed no substantial change and the inflation still remains much higher then the Fed would like to see ...........................

 

Tomorrow likely a day for purging call holders per the OpEx operations ...........................

Edited by redfoliage2, 15 May 2024 - 02:16 PM.

[redfoliage2]

The market made a new high yesterday as predicted.  But I prefer to Buy Low and Sell New High ..........................

Edited by redfoliage2, 16 May 2024 - 08:03 AM.

[12SPX]

Thanks. I sold 5500/5510 june 21 spreads today

Nice round number lol!! 

[redfoliage2]

Today's market internals indicating they selling on the new high .............................

[redfoliage2]

The market internals indicator (the McClellan Oscillator) has been making lower highs with the market just made a new high, a red flag for a near term top.   Let's find out next week how this is to be played out ......................... 

[redfoliage2]

Well, Mr. Market is in distribution mode as the market internals keep going down making lower lows ................... 

Edited by redfoliage2, 23 May 2024 - 01:05 PM.

[linrom1]

It seems that the Fed needs to do emergency rate cut.

[12SPX]

It seems that the Fed needs to do emergency rate cut.

No kidding the market is almost down -1%!!!!!  bahahaha 

[redfoliage2]

Today's bounce likely will be sold ...................

[redfoliage2]

I see no big moves either way before the Fed's favorite inflation gauge PCE out on Friday, that should define the market direction for the next move ....................