Quiet market conditions as the volatility comes in on lower volume holiday trade. Coffee found a bid that we can certainly monitor for follow through. Energy came to life today. Treasuries and metals appear to have developing setups. There are a few hot spots to point out.
AirBnB has been an interesting company to study for the past few years, and while I don’t know what the future holds, it seems users may be getting a bit tired of the long list of fees associated with booking. All opinions aside, let’s check the chart and see what it might be suggesting for the first quarter of 2023.
Many times U.S. equity markets “key” off overseas markets, and the U.S. bond markets prior to Thanksgiving. I will be watching the German DAX and the U.S. 30 year bonds for tells.
Dark pool prints with daily technical patterns and one ginormous monthly bull flag.
If the market continues to rally, here are some setups worth watching.
I anticipate next week being that of lower volume and possibly lower volatility as well. In looking at the SPX it appears the IV is quite low on a smaller than recent average projected range. As usual, we shall see, but let’s lay out a plan in preparation.
The trade is likely to be on lower volume next week, so my approach is going to be that of patience. I suggest we let the trade come to us. I’ll explain in tonight’s market update and plan.
Monday we talked about NDX resistance at the Voodoo Fireline. It tried to break out Tuesday but failed. Let’s revisit the importance of this spot and how to view it now.
