111 replies to this topic

[redfoliage2]

I see today's dip is likely to be bought as the market attention will be switched to the president Trump's state visit in China.  SPX 7400 (approximately ES 7425) is likely to be back tested soon ...............................  

Edited by redfoliage2, 12 May 2026 - 01:07 PM.

[redfoliage2]

President Trump is leaving for a state visit to China today according as reported by US and China media.  It's said US-China trade and Iran war are among the main topics for Trump's state visit there.  

 

Trump heads to China for state visit. And, how the war in Iran has affected inflation | WRVO Public Media

Just edited.

[redfoliage2]

Here is another Wall street firm raised SPX yearly target to over 8000.........................

 

Morgan Stanley boosts S&P 500 target. Why Mike Wilson says the market has already priced in the biggest risks. | Morningstar

Edited by redfoliage2, 13 May 2026 - 07:55 AM.

[redfoliage2]

I see SPX likely to hit 7500 soon ............................

Edited by redfoliage2, 13 May 2026 - 08:04 AM.

[linrom1]

The pigmen are definitely selling.

[redfoliage2]

BTW, here is why SPX still going higher even with "hotter" PPI data released today - With mild inflation such as the current US inflation level GDP just going higher since 2/3 of GDP come from total goods sales number, SP500 earnings also going higher, so the stock market.  The Wall street outlook for the inflation to remain in the current range in the next 12 months, and so SPX should rise beyond 8000 .....................................

Edited by redfoliage2, 13 May 2026 - 12:14 PM.

[12SPX]

Whoops I never hit send yesterday lol!!  Anyhow let my 7470 calls go off yesterday with a profit of $14.50 and I had bought the 7450 calls back for a profit of $8 earlier in the day.  It's a debate holding onto sold calls right now instead of just selling the daily's cause you have to watch them more.  Daily's you wake up get the econ data out of the way if you want depending on how important and then sell.  Like today I sold the daily 7520's for $5.50.  The market is getting way out of hand here to even have a little volatility but who knows when its going to hit!!

[12SPX]

After looking at some charts, momentum etc I've decided to sell the tomorrow's expiration day 7500's for $21.25 as I think this market is getting so long in the tooth. 

[12SPX]

It is unbelievable what prices are in call zero day traded options.  I don't think I have ever seen this before and that alone is a major warning.  Put prices are also interesting considering the volatility market is still pretty high actually, normally it would be down around 15 with this kind of move.  One interesting thing that I find interesting is that this has been the strongest 6 week recovery since the bottom in 2009 where the market was basically cut in half.  The move back then was +30% but that makes sense considering how far down the market was.  I went long at 667 after Mark Haines out of the blue said he thought this was the bottom.  Anyhow were currently in the 6th week and back then the 7th week saw a small draw down, flattening out and making slightly higher highs. Main thing I am getting out of all of this is that history never repeats but it does rhyme so I do believe we are at least reaching for a high here and with this sharp of a move in the end we could see a pretty sharp correction to get momentum back to normal. 

[12SPX]

Whoops didn't mean tomorrow's 7500's I meant the 7520's for $21.25 although they re underwater now to lol!!