JB7oh2

JB7oh2

I hope everyone had a great Christmas weekend. This short week will be lame but great for scalping range bound market why? There’s a JPM collar call 40,000 contract spy option at 383.50 that expires Friday also call wall at 390 and put wall at 380 so we are trapped max pain is around 385. After Friday watch out below January is going to be a sell off since the...

JB7oh2

Keeping it short I’m enjoying this no trading thing but still keeping in eye on things. This is normally when the rally starts leading into the first 2 weeks of January let’s see what we get. I would like to see it hit the .382 retracement, at least there’s not much of any big data dumping. I don’t think we break below the monthly low line and I definitely don’t...

JB7oh2

What can I say all hope is fading volume is low no news today and people are selling blood in the streets so buying may start up. I’m going to be honest I have trade less then 5 times this month thinking about taking the rest of the year off just waiting for that setup, it’s just not there anymore it doesn’t have that feel of excitement. Talking to other traders...

JB7oh2

It was a central bank attack today to many to name but everyone is raising rates aggressively around the world. Traders trade so the news was sell. Friday we have options expiring enough money to reset any momentum, not looking good for the bull side I might have to pick up my bear suit out of the dry cleaners. We need to hold 388 if not 384 will show up quickly...

JB7oh2

You might have heard me talk about the dot plot before or the SEP it is where all the members take a blue dot and place it on a chart where they believe rates should be in the future. They have been putting it off the last 2 meetings and a few meetings ago it effected the market in a good way which sparked the July rally, today they published the chart and raised...

JB7oh2

So the rumor is yesterday’s midday rally came from a leak of the CPI 7.1% print of course the White House came out and said there was no leak, sure there wasn’t someone always knows. The cooler print was nice but immediately the profit taking started and like I said yesterday the first 15 minutes will decide the trend and down it went. Know tomorrow is a different...

JB7oh2

It was nice to take the week off but to comeback to this come on already. It’s not a good sign when the VIX is up 9.51% and the S&P is up 1.40% this is a bearish sign 70% of the time what do you think. Personally I think the VIX is planning for a bearish FED and S&P is loading up for a cooler CPI. So we all know tomorrow is CPI pre-market expect a trend day which...

JB7oh2

Well team I’ve been writing up almost everyday for the past 6 months as of lately I’ve lost my zone I’m sure you can read it in my write ups. So I’m planning on only writing up ideas when I have good ones it’s only fair to you, some days I just don’t feel the market or trade it if I’m out of the zone so please bare with me. I think it’s the holidays coming up that...

JB7oh2

This week is straight down sell everything so far no relief bounce at all today. I really thought bulls would step in today I was wrong, I might have to get back on that bear porn again lol. This Fridays PPI will be very important it measure what wholesale prices businesses are paying so if we see the number go down it’s good for consumers so wait and see. Bank...

JB7oh2

Todays PMI the highest since 1999 this is good news so that’s bad for the market, that’s the way we have been rolling for awhile. The news sent yields higher creating the sell off this morning, algos are set up to trade off bonds they always have the edge. The FED warned us last Wednesday it will have to raise more rates and hold longer now all of a sudden...

JB7oh2

Hello everyone I had to take a little break, I was watching to much bear porn lol. We all know what should happen but what does happen is the most important thing. We are back at retesting the trend line for a 3rd time we all know the more it test the weaker it gets. On my monthly prediction chart I took it to 430 or so I believe we create a double top then...

JB7oh2

Once again the monthly box hit the high I think Powell saw my chart and decided to help me out lol but instead I got slaughtered with a few puts luckily I sold yesterday a majority of them I should have listened to the homie @Luck264 straight called it. When the Chicago PMI which is the industrial sector came out at 37 when it was expected to be 47 it was bad news...

JB7oh2

Well here we go again another speech by the Powell with questions from the audience starts at 1:30 est, has that feeling of Jackson Hole, we all remember that speech he re-wrote it 15 minutes before talking and just slaughtered the market. The last FOMC meeting when asked about the market rallying he was not happy even though it was actually going down. It’s a FED...

JB7oh2

A reality check today with the feds talking and china protest. We can still hit the 200 day ma on the daily but the odds are getting slim. Thinking tomorrow we chop waiting for Powell to talk on Wednesday. Personally I think there’s to much gloom this week but we’ll see the monthly candle close on Wednesday is interesting 2 green candles for the first time this...

JB7oh2

Every FED pivot point is met with a crash. Yes this time its different I don’t think we will have a 08 type but a 25% pullback from here will probably mark the bottom. As this time we started raising rates once the decline started to happen so the topping of the rates will be quick. I also believe inflation is here to stay that 2% they want is a pipe dream packed...

JB7oh2 Updated 

Who wants all the smoke, it’s coming tomorrow action packed day. I’m not sure what’s going to happen but I’m leaning bears. This range has been played out before and every time it doesn’t end well. The dollar is ready to rally again and stock charts are looking bearish just pick any tech chart. The fed is adamant about taming inflation and the pivot comes when...

JB7oh2

Today we were held up by Disney thanks Mickey you did good for once. Very low volume 34mill as expected this week but moves up or down happen quickly. Everyone is on fed watch just waiting for those minutes and I believe it will be a let down for the market we break 390 and start heading down we’ll see what happens. Tomorrow afternoon feds start talking so be...

JB7oh2

Alright we another busy week but we have a short week remember that the market is open until 1pm est on Friday. Stocks above the 200 day ma average 56% people bought the dip pretty strong rally. Starting Tuesday morning feds get to talking starting at 11am then Wednesday we have a ton of things coming out jobless claims PMI and FOMC minutes which I believe will...