JB7oh2

JB7oh2

Just like in September these dates matter to us here are some to keep in mind. I’m sure I’ve missed something’s if so leave a comment below please Monday Oct 3rd- ISM manufacturing PMI pre market Tuesday Oct 4th- JOLTS job openings, fed members Williams, Mester and Jefferson speak Wednesday Oct 5th- OPEC meeting all day, Services PMI, Non-farm employment change...

JB7oh2

Up, down or sidewayz lol. Tomorrow’s PCE # is going to be the direction we go for the next week. 4.7 bad 4.5 good that simple. If we get anything lower than 4.5 we will have a short squeeze in full effect. This market is looking for any good news and today was more bad news, apple gets downgraded and the vp gets let go for some dumb video come on. Meta is looking...

JB7oh2

Well what a day, who ever predicted the Bank of England stepping in to save the world you must be from the future. So by now you heard BOE buying back bonds or gilts. Supposedly some hedge fund guy made a call and said pension plans and margin calls were about to get hit, so they do a temporary fix of spending more money kick ye can down the road. The bulls aren’t...

JB7oh2

When will the bottom of this pricing in hit? Who knows who cares play the trend and today for me marks more of the same just worse. Some of you may know I like to see 2 consecutive closes under any trend or price or ma or anything, it makes confirmation of a new trend. We might not see bottom to start a new rally for another 2 weeks. Keep an eye on the VIX if we...

JB7oh2

The macro is insane right now, keep an eye on the 10yr and DXY. Tomorrow Powell talks pre market should be interesting. I’m thinking the 354 will be a big psychological area 350 everyone will start screaming the bottom is in there’s a huge volume gap on the daily chart. The only way we will break 369 will be a gap up and I don’t think that will happen anytime soon...

JB7oh2

Here is all the currency that is weighted against the dollar. Make this chart yours. The DXY is the orange line the light blue on the Eur is S&P. Euro EUR weight 0.576 Japanese YEN weight 0.136 British Pound GBP weight 0.119 Canadian Dollar CAD weight 0.091 Swedish Krona weight SEK 0.042 Swiss Franc CHF 0.036

JB7oh2

Here we go another week of money to be made. We have 4 out of 5 fed members talking this week. Powell talks on Tuesday on digital currency and Wednesday 10:15est welcoming remarks at 2022 community banking research conference, Brainard talks Friday 9am est. Theres more if you want the schedule go to the fed website which you should have booked marked. On the 29th...

JB7oh2 Updated 

This week was action packed the feds pretty much told us what they want to do. What’s that, control inflation by all means possible of course they will over shoot we sit at 3.25% now. Then we had the yen issue it has dropped more than 20% to the dollar this year so the government stepped in and started to sell the dollar. Then the pound gbp sunk after the...

JB7oh2

The world said it’s on like Donkey Kong! So much to unpack but not today it’s been a long week and I’m tired. Just wanted to post this massive inverse cup & handle. I hope you all made profit this week next week we’ll try again no matter what. Hope you all have a great weekend I will be back Sunday, time to relax. Let me know what you think about the pattern. As...

JB7oh2

Papa Powell talks tomorrow late in the market so more of today might be what happens. Hopefully some direction comes out of it, we can still get back above 380 but breaking 370 feels like the path of least resistance todays rejection of the previous day low was a strong statement at the end of the day today. I’m keeping an eye on Europe Japan and war it will be...

JB7oh2 Updated 

As soon as I saw the DXY at new highs and the market green I knew we were in trouble, I hope everyone made money today if not hope you learned something the market loves to hand out pain. When Powell talked it was something you could see the market reacting on key words and with that the word is PAIN it’s coming. I really thought we wouldn’t make a lower low...

JB7oh2 Updated 

Tomorrow will be a sideways chopper until Powell talks. Usually the first move is a fake out the volatility will be all over the place quickly the robots trade off key words when he starts talking at 11:30pt 2:30est. Buy your bet and set your sell orders quick because in minute’s it will fill. ONLY USE MONEY YOU ARE WILLING TO LOSE!!! If you pick the wrong side do...

JB7oh2

Today we almost hit the target. Tomorrow we will range out I’m not expecting any crazy volatility it is the eve of chaos FOMC JK. Pretty sure we will stay above 388 tomorrow. Like I said last week 382 is the bottom pricing in the 75bps hike if they stay with that we will start heading up to 400 and begin the rally to the midterms unless some crazy stuff happens. I...

JB7oh2

Last week we opened with a gap on Monday then gap down Tuesday and gap down on Friday, 3 Fn gaps in 1 week. With that being said this week is golden for money on the way up and down. We are gaping up tomorrow probably hit 390 then back filling the bear gap from Friday. 377 is key if we break that this week watch out below I still think 382 is where the bounce will...

JB7oh2

Here we go again another 100% retracement we had one back on the 6th. Now we have a clean break below the trend line. Looks like it’s sell the rumor buy the news. Tomorrow is a really big day in the market if we close below the trend line that would make 2 consecutive close’s that is conformation trend there. Also we have quad witching opinions expiration tons of...

JB7oh2

The last 30 minutes were wild the bulls showed up to make sure we didn’t close below the trend line we needed 2 consecutive close’s to confirm. What next ? Well last time everyone bought up this dip will it happen again? Tomorrow we need to close above 395 to stay above the TL. If the bull robots show up 399 will be the target. If the bear shows up we break 388...

JB7oh2

Wow what a day in history. Sold calls right away bought 402 puts at 2.75. So there’s still some hotspots in the cpi number I really thought bad news would be good news I guess that trend is over. I hope everyone was safe today, sometimes it’s good just to sit on your hands and not trade. Tomorrow we have PPI expect about the same gap down and trend. The 200 day ma...

JB7oh2 Updated 

Looks like spy is ready to go. Watch the 414.75 break also 416.40, if break those levels it’s going to 420 then I’m thinking 425 by the end of the week. It looks like we are setting up to go for the 200 day moving average. Also tons of bull gaps that will get filled once we hit that on the way down. Right now the daily chart has more floating candles then a Harry...