The SPX made new, all-time highs today, and while the market is definitely strong and there are key pockets of strength to focus on, most of what I’m looking at is overbought and has the potential to revert to the mean. I’m beginning to add hedges, and we’ll look at the main focus for tomorrow, which is potential pins and expiration.
We aren’t at a euphoric state just yet, but the low put call ratio is a huge heads up that at the very least, a pullback in the market is coming. I’m placing my bet on the SPX, since the NDX looks like it still wants a new, all-time high. It may not come tomorrow, as we still have triple witching to deal with, but hedging as we get into next week makes sense. Here is how I’m doing it.
Iran eclipsed the message from the FOMC yesterday and stocks retreated from significant highs. Here’s how I am setting up trades into this volatility and in front of tomorrow expiration.
From FOMC to Friday’s expiration events, the market has new events to consider and our Watchlist continues to grow.
In this video, we discuss the FED announcement today and what this could mean for the overall market. Also, we talk about what I think will happen in the short term for the SPX.
With the FOMC event today, the U.S. dollar predictably sold off, but for how long and what are the ramifications for crude oil and even the Euro?
We’re in phase two for the month of June. Having scaled out of the post-Memorial Day positions, it’s time to build our trading book back up. Here’s where I am starting…
