No time for text today, time to do some live trading.
Yesterday was pretty much par for the course, the runaway train. VIX coming off a bit, which probably means that the market is breathing a sigh of relief that the inauguration went off pretty smooth. I'd be looking for a pullback to value high of the previous area at this point.
No video today, some problems with my audio. Market struggling right where we expect it to, right at 90 area. If the market gets back into value here I would expect a run towards 10 again. If we fail here, look for the market to try and test the lows from Friday last week.
No comments today, likely to be a volatile day and since we are opening in 4 minutes, I'll get this to you right away.
Market is moving higher towards value high. I'm watching up here to see if we can accept above this 3810 area, however, i do not expect this to happen today. Today we see low volume in the overnight session, which tends to favor more mean reversion type of day. I would look for the market to unpin from this area tomorrow, not today.
The market came down and tested our previous value high and bounced right off. We are trading A TON in the 3795 area and I would expect that to continue to be a magnet. However, if we break one way or another, I would expect it to be higher if it happens before Friday. Friday is options expiration and I would expect a pretty large move out of here.
Same old buyers came back in yesterday, but we didn't push up very far. We are pinned right below the 3800 level in the ES which is roughly 3794 in the SPX. With options expiring this week, I would expect to see us pinned up here, or move a little higher. If you're looking for a down move, it's probably best to wait for next week.
Another action packed week shaping up. Big options expiry this week, which you need to be aware of in this market. We are constantly forced to evolve with the market or risk being left behind, so it's becoming increasingly important to understand where the options traders are located. The reason is that we have historically high levels of options volume from...
A couple of nuances in today's video. Most of those nuances indicating that the likeliest scenario is a back and forth, outside-in type day. Let me know if you have any questions.
Markets had trouble rolling over yesterday, which is hard to imagine with the Capitol building being stormed. Like it or not, there is an invisible hand pushing the market higher, and it's not wise to fight it.
Looks like its a democratic win and possible control of the senate now, with markets pretty much unchanged overnight. I don't know how the market will like that, but the open today is key again. The market is currently stuck right at 3700 and I think the next move is crucial. I'm looking at 3715 above and 3675 below as the next key areas.
Yesterday was a big day where we got some flush-out of buyers. Like I said yesterday, now that its a new year and we've burned off a lot of the 'fuel' to move higher, the market seemed ripe to sell. However, we wont start selling until we start to see acceptance lower. I gave today a neutral rating even-though I expect it to be volatile, simply because I think...
Happy new year everyone! 2020 ended with the market at all time highs, which is exactly what we expected in the final days of 2020. 2021 hasn't started off much different. Moving higher and I will continue to look for the market to do the exact same thing until it proves it can hold onto lower prices.
Good stimulus news caused the market to continue to rally, which is what we expected. We reached the 3740 area finally, and with the end of the year in just three days, I would expect the market to push even higher. I didn't do anything yesterday with the market, I just felt like it continued to move higher without any pullbacks. Not to mention it was...
Hope everyone had a happy holidays and is ready to come back for the end of the year 'Melt Up'. I would expect this market to hold onto the yearly gains going into the new year. Key target above around 3740. Support for me is 3695ish.
Likely to be a slow day today, not really worth trading IMO. Things can change, but to me the only thing that moves the market today will be news. Fat cats are already drinking eggnog, and watching the the yule log.
Market is nearing the scene of the news crime from Sunday evening. This market is resilient, and the buyers remain in control. 3700 remains the overhead resistance.
Short on time, see you guys in class.