sp'weekly6
Summary
*an example of the flash-crash prints seen at the open...
Ford (F)
Home Depot (HD)
Those downside prints are viable targets for end today.. or later this week.
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*special note.. market looks set to be halted at some point today... with sp'1832.
The Oct' lows are easily within range... after that... 1725/00.
*in the low 1700s.. I would be 100% long. For now... I watch.
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A stock I have been highlighting since May... INTC.. which has played out very well.
First target zone hit... H/S scenario offers 22s.. within the immediate term.
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As at 9.57am.. STILL no VIX print...
but.. TVIX/UVXY +48% (I saw them +70%)
VXX +23%
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TRADING note.. option spreads were insane at the open... 20% wide... now down to 8% on more liquid stocks.
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10.04am.. We have a VIX PRINT !!
So far.. 51s were hit
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10.12am... micro cycle offering a rally into the 2pm hour.. as is often the case...
sp15min
A short this afternoon at 2pm? Hmmmm.
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10.20am.. not surprisingly.. some are coming out calling a floor.
As things are.... sp'1867 makes little sense as a floor.
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10.37am.. the wild swings continue... back to sp -52pts @ 1918.
Traders are going to need to get used to seeing the sp' regularly flip 20/30pts... this could last for some days.