TODAY IN THE MARKETS
$SPX
A low #CPI triggered a 114-point jump that took it above the dominant trendline. At the open, sell orders above that level initiated a pullback that took it 126 points down to the 20DMA
Not what we would call a 1-day reversal, more upside to come
#SPX
$DIA
Same picture for #DIA, sell orders above Dec 1 high pushed the #DJI lower
It went down after an impressive initial rally
Bounced from 20DMA
#DJIA will continue to lead the rally
Not a pretty candle, but not exactly a 1-day reversal
#DowJones #trading #options #trading
$IWM
Same story
Perhaps an uglier candle, closer to a 1-day reversal than $DIA and $SPX.
$RTY looking much better
Bounced from important support in the trading channel
Big volume today.
#IWM needs to catch up with $DJI for accompanying leadership
$RUT #RUT #RTY_F #trading
$QQQ
Another bounce from the 20DMA after rallying and plunging
#QQQ looks very good in its trading channel, the 20DMA coincided with the channel support to stop the fall
Expecting it to heal the damage and continue in its uptrending channel
#NDX #NQ_F $NDX #NASDAQ #trading
$SMH
Make a fresh break above the recent highs, and closed barely under that level
This sector will help with the continuation of the advance
#SMH $SOX #SOX #semiconductor
#QQQ #SPX #trading #options #futures
#DayTrading
The $SPX stocks above 200DMA index
It closed at 61.63%
Looking good, it hit Dec-1 highs and pulled back, but not as much as #SPX
It continues to show inner strength in SPX
#trading #ES_F $SPY $ES #trading #options #futures #DayTrading #bearmarket #inflation #TradingSignals
The $SPX stocks above 50DMA index
It closed at 80.71% and below the 20DMA
Not a nice candle today, but in some way it's better that it didn't go to oversold territory
#SPX #ES_F #SPY $SPY $ES #trading #options #future #DayTrading #TradingSignals #MarketBreadth $QQQ $DIA $IWM
$TSLA
It was a drag on the market
Its chart shows very nasty technical damage
It marked a 2-year low today
It needs to close above 178 this week to have any hope, but it doesn't look like a real possibility
Are you looking for a stock to short?
#TSLA #FAANG #QQQ #SPX #ES_F
Chart of the day
$FLNC
Fluence Energy made a great breakout closing today above resistance.
It looks like a good candidate to go long, its chart shows no immediate resistance so it can go up without too much of a struggle
#FLNC #energy #ElectricVehicles #GreenEnergy
#SPX
$SPX Net $Gamma for Dec-16 $OPEX
#Gamma is the main issue to watch
Final adjustments and hedging (tomorrow and Thursday) will push the market to the place where MMs have the least risk
Bets are still scattered, but will be concentrated on two or three strikes
@TradeVolatility
$VIX $VVIX
It printed a very large bearish engulfing candle
There is nothing bullish in the #VIX chart, only that it managed to close above the 20DMA after piercing its line
It may have some bounces, but it looks like we'll have a sub 20 VIX this year
#VVIX $UVIX #SVIX $SVIX
$VVIX
Its chart looks much better than #VIX
It managed to print a green candle, despite of negative day (-3,26%)
It may be the precursor of more #volatility to come, but we need more evidence of this
$VIX #VVIX $SPX $ES $SPY #SPX #ES_F $SVIX $VIXY #trading #options #future
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