Volumetric chart was boring so I switched to dark with think or swim price bars AND dropped to 15 minute. I like the day's summary on the right hand side.
ES 06-24 (27700 Tick) 2024_05_02 (6_55_13 AM).png Larger context. The big one comes out on Friday. The experts have been claiming the BLS has a large political bias these days and the monthly jobs report is no longer taken seriously by the major banks. However we are all the victims of Pavolvian co...
Who ever turned on the machines to run the market back up to the much beloved 5110 level did not wait for a meaningful comment from Powell. His talk that they are far away from a hike came well into the move.
At 8:02 Pacific time the Fed whisperer (Nick Timiraos at WSJ) said the June cut is dead (we knew that) and that this meeting starts the pivot to hawkish for summer. If you were wondering why the rug pull!
ES 06-24 (30 Min Volumetric) 2024_05_01 (8_14_04 AM).png Well, at least we are forming a recognizable volume shape so far. I am guessing the option markets are showing a ton of cheep bets both ways with those 0 DE options. If so they will increase volatility as the market makers have to hedge as th...
ES 06-24 (2000 Tick) 2024_04_30 (11_17_36 AM).png Nothing to add to what has already been said. Market has to be concerned about a rug pull by the Fed. Yellen is voicing concern (which is a new move) so my guess is Powell has no choice, he must try to jaw bone about controlling inflation because he...
Bond people all saying this afternoon's data release by Treasury is a yawner. Wednesday morning "could" be market moving, then the follow up from Powell in the afternoon. Person noted on X that market liked earnings from those selling AI to others, did not like (Facebook) those trying to u...
ES 06-24 (2000 Tick) 2024_04_29 (9_42_22 AM).png As of Friday the Friday high was at the existing call wall. Supposedly most of the call wall survived expiration. When the Put wall was breached earlier last week we dropped hard and fast. The call wall today is not generating much follow through and...
ES 06-24 (60 Minute) 2024_04_26 (7_56_10 AM).png Early weekend post. IF Nvidia delivers yet another 100 point jolt it only gets us to the top of the range for a retracement. Starting to see this showing up on X as in "great opportunity to short if you missed the last one". People who publ...
Last week everybody and their dog was predicting a dead kitty bounce to around 5150 because earnings would be great for Mag 7. So far those who are paying cash back to shareholders are rewarded and those who are buying tons of Nvidia chips are punished. But everyone still calling for Nvidia to push ...
Mr. Market treated GDP like a normal news event. Took a long time but it climbed back. Everything hanghs on the big earnings reports tonight. Then what ever happens the focus will be on the Fed and Nvidia .
ES 06-24 (2000 Tick) 2024_04_25 (9_06_43 AM).png Like Bull Bear said, good day to do chores as we wait for earnings. As a wit on X said yesterday Zucker burg didn't get it. You are supposed to talk about AI not spend serious money on it. So we see if Mr Softy and Goog got the message. When the only...