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Misc Stock Market

Tech looks radioactive. $284 was big resistance and it couldn't hold and rejected again this morning.

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Compare with DIA...it looks fine, flagging.

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KyloG said:
If 7% happens the economy will be crippled, millions will lose there jobs/homes. If it happens they should all be locked for that. Think about....because cereal and rent is higher let's destroy the avg american's life.
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Powell's remarks to Warren are interesting...

 
TSLA $150 will likely be a great place to add fresh longs...for other Nasdaq names and the Nasdaq itself.

It's comical how well this stock pushes it around. Apple I understand, Tesla I don't understand.

It had me ticked off the day before CPI earlier this month since it lost a key spot (I was also frustrated about the Bitcoin situation), and it looks like CPI surprising pretty much everyone just temporarily pushed off TSLA leading the Nasdaq down the drain.

$150's likely just a temporary stopping point unfortunately, so I'll get to continue to be mad at TSLA for a while I bet.
 
KyloG said:
SPY has a nice flag. This market doesn't like to trade sideways for long...I expect $390 to be tested tomorrow or a march towards $400.

I am long $QQQ $383 calls and $NVDA at close. Gap down tomorrow won't feel good.

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I'd certainly lean towards bull flag as long as SPX is at/above 3900, but man, I just don't feel good at all. I'm leaning towards distribution like that period in June.

Resolution probably comes on Wednesday with the minutes and the thing that I will say there is that some folks are remembering Powell's words over the statement. I can't imagine there's a surprise in those minutes.

But I can imagine that Powell might yell at the market for 8 minutes on the 30th.

Thing that I'd love to see would be for the Fed to double down on jawboning and for core CPI to come in at .2-.3 MoM in a few weeks to jerk everything around again. I'd be deceased from laughter if so...but even if that were the case, my guess is we'd still see 1 more hike and done.
 
META has a nice looking chart, nice bull flag building. Took shares at $110.

It looks quiet, I don't see any +divergence going yet so will be patient.

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I did add some Tesla shares yesterday at $169. Not a fan of Tesla but it's hard to ignore this should be fairly big support. The overhang from Twitter is going to last for some time...Elon has to sell more Tesla shares for the loans he has. Some are saying it won't come until Q1.

I think it gets to $176 soon and if it can get through that than maybe it see $180, which would be gap fill.

TSLA-23_Nov_2022_07_55.png
 
Seems like we still have another drop ahead. I got out of everything right before the midday drop to lock in some gains. Several people I talked to in the industry felt like we were due for a little false bottom, and then one more drop before true recovery starts taking place. Guess we'll see but I didn't want to carry anything into the holiday weekend in my short term accounts.
 
$AAPL getting really tight...below $147 things get bad....above $152 things get good.

AAPL-23_Nov_2022_14_18.png
 
Q's needs to close over $289...another rejection wouldn't be good....although thats more from impatience. $284 is a line in the sand, for me...below that would worry me.

QQQ-23_Nov_2022_14_21.png
 
SPY looks really good...if it can get into the gap then gap fill to $411.

I added some $AMZN $95 calls for next week on the morning dip that are up nicely. Plan on holding these for next week in case it wants to wake up.

SPY-25_Nov_2022_11_11.png
 
KyloG said:
Lot of dark pool activity in low $394's for SPY earlier. I have a feeling they don't want to pay out $400 calls and $394 is probably the LOD. Today is a huge opex.
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SPY $394 dark pool activity last week indicated that was good support. Today, on a very light volume day, several billion in dark pool at $402. Gap fill to $411 would be nice.
 
Yikes!

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Now is the time for the DOE to complete the greatest energy trade maybe ever in size. Start buying to refill the SPR at $73 when they sold a good bit closer to $100.
 
KyloG said:
SPY $394 dark pool activity last week indicated that was good support. Today, on a very light volume day, several billion in dark pool at $402. Gap fill to $411 would be nice.
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Dark pools at $402 must been resistance. ?‍♂️
 
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