With the rally that took place the end of Friday, it just puts us back into rangebound chop. It leaves things in a very uncertain place with no trend. It could be that we hit a bottom already and we fly back up or it could have been just been some oversold levels relieving themselves. I...
So I have good news and I have bad news. The bad news is that it is very uncertain if we reached a low and will now rally back to highs. The good news is that based on the last couple years, we should know very early in the week. I will highlight that information on...
Irony at its finest! Ok, so maybe breadth is not breath, but you get the point. Of course the poor breadth measures that I’m sure you have read about is anything but a call for the bears to hibernate. The fact is, based on weakening internals, seasonality, and other facts that I have read […]
I’m sure you have noticed that this current market is extremely tricky. I for one can’t recall a time where the people I follow and talk to (including some hedge fund and institutional guys) are so split in their opinion of what is going forward. Notice I used the word “opinion.” Since really this market...
The note I provided in the set-ups is pretty much the same note I am putting here. We are in a very uncertain environment and unfortunately this open interest doesn’t provide too many clues about the overall market (except for adding evidence that the market is in a very odd spot). One thing I am...
For those of you following my blog you know that I have had two posts regarding the last two-years of V-shape bottoms and what their history tells us. If you missed them, you can view them here and here. I have been keeping track of the most recent V-shaped bottom from August 7th and comparing […]
I have some overall comments about the market in the open interest post, but just to reiterate, next week I think is very tricky. The market is very neutral here. I can see how it looks bearish, but you also know how many times that happens and there is no follow through. Plus we have...
Next week is monthly expiration and triple witching so it’s a big OPEX. The calls and put walls tend to hold fairly well during monthly OPEX. Having said that I think next week is going to be very tricky. The market itself looks a little heavy; however, we just had a great breakout in financials,...
Lately I haven’t been taking many swing trades because the trend – although up, has been lacking momentum. My bias for next week is sideways to higher; however until we see real follow through (up or down) then I think side-ways chop is most likely. Given that we are in a bull market, as usual pretty...
Next week is all over the map. I really think it’s better to see how things shake out early in the week because I get the feeling that these open interest graphs are going to shift around a lot next week. Also, be aware that there is a theory going around that momo’s will sell...
Determine Your Next Market Move
Last week here I discussed how the start of the week would likely determine the next short term move. On Monday after failing to move higher and based on the instances I highlighted in that post, we were able to determine the risk/reward favored a further pullback. On Monday I tweeted out: In that case things […]
Share this:
Read More →
Read More →