Still the Best Way to Gauge Sentiment
We’ve discussed the put/call ratio in these videos before. Today was another great example of why I like using it, in this case from a day trading perspective.
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Why Is This Market Relaxing To Trade?
It’s always tough when you try to force an outcome — so do this to stop trying to force an outcome.
Finding Clarity In Chop
While we always like to see trends continues that’s just not the market we have right now. The environment is very tradeable, however, as long as we think daytrading and keep our levels crystal clear.
/ZB Better Start Rallying
With the bond market still getting spanked, stocks still have had much of a sell-off. But if bonds have another leg down, equity markets could tumble to the June lows.
FOMC Week
It all starts Wednesday of this week. Yes, today was boring and tomorrow may well be more of the same. Get ready for game day Wed and Thursday of this week as that’s when it starts to matter.
New Levels To Watch In Bonds
A new update to Voodoo Lines has given us updated levels in U.S. Treasury futures for the first time in several decades. Let’s look at what these new levels are telling us to look at.
A Tractor Beam To The Lower Strikes
Big NASDAQ Stock Open Interest Under Opening Prices Led to a “Tractor Beam” to the Lower Strikes. With the long bonds still selling off, it didn’t take much for stocks to get pulled down to their lower strike prices. Next week, if bonds don’t rally, the major indexes could break important trendlines.
Plentiful Pins
Pinning is a concept that gets thrown around a lot, and while it won’t always work, watching it around witching expirations tends to increase the probability of success. Let’s look at a few of these from today’s expiration.
Daytrading Is STILL Working
With a choppy week and OpEx, staying nimble is not only working, it’s the best way to control risk and manage the volatility.
2 Days To Come Through
In Monday night’s review I discussed SPX and a target at 4500. That came through today and with this huge upside level tested what might we look for next? Let’s look at a few scenarios in tonight’s update.