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Misc Stock Market

Storm5 said:
So is anyone worried about QT ? It's the biggest liquidity drain the market has ever seen . For this reason I think there is no way the bottom is in yet


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Yep…definitely.

This market is either straight up or straight down. It’s turned into such a freak show.
 
Ok team . Futures ripped face today . Is it setting up for a huge dump tomorrow ? Or do we continue higher heading into the Fed QT on Wednesday


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Storm5 said:
Ok team . Futures ripped face today . Is it setting up for a huge dump tomorrow ? Or do we continue higher heading into the Fed QT on Wednesday


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Inflation numbers past couple of days have been bad, both German/Eurozone were higher than expected. Oil pushing higher. Macro news has been fairly bad...will be very intesting to see how bonds respond on Wednesday.
 
S&P futs got a ugly candle building, rejected the 50dema.....bulls need to hold $4100.

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For $NQ would like to see $12550-$12600 area hold today.

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Oil looks really bullish...which can't be bullish for most equities....or are we in the mode where macro doesn't matter.

Old rule of thumb is that channel break has Oil heading to $140.

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These central banks are an absolute joke...they care more about the markets than inflation.

 
Storm5 said:
Don't forget QT starts June 1st so no telling how the market reacts to that . I think we pump Tuesday and Wednesday and then see a lot of selling Thursday Friday


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The Derivative markets need QT in a bad way. There is a massive shortage of collateral right now (Look at reverse Repo of 2+ trillion). No body trust one another in the derivative markets so they require more collateral to back it up. If you had the cash and collateral, you could make an absolute fortune in the interest rate forwards market. It is either pricing in the end of the world or just no one can enter that market bc of collateral constraints. Of course the end of the world only happens once so I like our odds in the words of Art Cashin.
 
Many tech names working on day 4 or 5 up in a row. AMZN/TESLA/GOOGL/AMD/FB.

The weakness was bought hard today, which was expected, you had a huge multi-day move, many took profits and were looking to buy a dip or people that missed out on this run looking to buy any dip. If Q's gets through $309.4 it could create a wave into the close.

Personally hoping for SPY/Q's to close below Friday's high but above the morning low and then tomorrow look for dips to aggressively buy. That would make for some "easy" swing trades. I haven't done much today.
 
Tesla is the biggest meme stock of all....dropped 6% at open then retail came pouring in and ran it back up 5%.

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Haven't traded a bio in a long time but I just added XBI for a swing here...if it can get through $71.50 it could see $76-$78 over next couple of weeks.

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Apple pushed through $150. Market had every reason to close red today and its looks like tech won't give in.

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Let’s see how it closes but this is day 6 out 7 green days in a row. Lot of bad macro news come out in the past week but market is shrugging it off. ?‍♂️

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They are fighting hard to keep tech going. Refusing to close red.

Going to get a 8/20dema cross tomorrow potentially. Would be so nice to get a down open tomorrow like today. ?

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People are blaming the close on sell imbalances...this isn't a pretty daily. But, maybe a down open would be a nice dip buy, 2 days of rest.

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Monthly chart of NQ through May...it bottomed right where other large corrections bottomed...at the 40-50m ema.

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What a cold blooded bull trap...or is this a bear trap. Crazy...been a good day, scalped longs from pre-market and then flipped to Q's short when $310 broke.

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SPY chart isn't that bad...4hr chart. Got that little channel building, held $409. ?‍♂️


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Man sure feels like a huge rug is coming . Hope we get a nice bounce into close though


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AMZN would be getting ripped to shreds here...if it wasn't for the split next week. Day 6 up in a row.

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based on options, the SPX right now is 4181 to the high side and 3811 to the bottom. Pretty strong pressure to head lower. Also Volume is horrible. Almost as bad as March of 2020
 
No snow for you said:
based on options, the SPX right now is 4181 to the high side and 3811 to the bottom. Pretty strong pressure to head lower. Also Volume is horrible. Almost as bad as March of 2020
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Always love rising prices on very low volume in the midst of a broader decline.
 
No snow for you said:
based on options, the SPX right now is 4181 to the high side and 3811 to the bottom. Pretty strong pressure to head lower. Also Volume is horrible. Almost as bad as March of 2020
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Good point . But the sell pressure today was still on lighter volume vs averages . At least for QQQs and SPY


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