Look Out Below
The market is very weak and sold off into the CPI report coming tomorrow morning. While there might be a surprise move with that, the overall direction is down and I am seeing TSLA lead the way.
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2008 and 2022 crazy similarities
Recently the SPY has been following in lockstep the patterns that happened in 2008 before the crash. With CPI tomorrow, it will be fascinating to see if those similarities continue. My read on the UVXY and from 2008 says that we should wait just a little longer before seeing the market really roll over, but it looks like it’s coming. TSLA is leading the way to the short side and I think big names like AAPL and COST are next.
All about CPI from here
Since the beginning of the week, we have been preparing for the all important CPI report Thursday morning. Well, today the ES reset itself by trading back to the weekly open in preparation for the same. Will it be up or down? Of course that would be great to know but we can prepare for it with some targets for either and possibly both sides.
The CPI Reset
The ES opened the week @ 3750 and is trading there again ahead of the meaningful CPI number tomorrow. I’ll try to interpret the charts but remind us all that anything can happen tomorrow morning on the report. Meanwhile, Corn remains soft and Cocoa bid. Energy is taking a breath and the Treasuries appear ready for a bounce.
Did the VIX just give a buy signal?
The volatility contraction game has been in the lead for weeks but a big part of that shifted today, and it gives a signal that’s worth making note of.
The Path of Least Resistance
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Crypto Fears Nail Equity Markets
The possible collapse of FTX, one of the largest Bitcoin exchanges, has left traders worried about systemic risk in the entire financial system.
Trading the Volatility Around Elections
This is how I will look to trade the volatility around elections as well as where support and resistance are waiting next on the S&P futures daily chart.
The Recipe for a Rally
While there are a handful of sectors in the market showing signs of strength, the SPX continues to be held back by lagging big-tech. Here’s what has to unfold over the next few weeks for a potential rally to take place.
Down goes the $DXY?
For the first time this year, we’re seeing signs of the trend in the dollar ready to crack. Could this been the “green light” that bulls have been waiting for? Let’s discuss.