sp'60min
sp'daily5
Summary
So... all the Friday upset is now a distant memory, and indeed as I thought at the time, it was just another tease by Mr Market to the bears.
Before next chance of a sig' down wave, we're headed up to at least sp'2000, if not the 2050/70 zone next week.
Its hard to call what the Fed might do What is clear though, are the daily MACD cycles, which remain extremely low, and due to be reset to a large extent.. and that will take the better part of TWO weeks.
I certainly can't be short (whether light or heavy) until the tail end of next week.
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early movers
AAPL +2.7% in the $112.10s
DIS +1.3% in the $102.20s
NFLX +3.6% .. 102.40s
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Overnight China action: Weakness across the morning, then a magical (and consistent) climb into the close, settling +2.9% @ 3170. It looks like the PBOC (or their agents) were hitting the BUY button.
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*I am holding a micro AAPL-long position. The option month is Sept', and at the very least I should roll out to Oct'. So, I'll look for an early exit... and will consider buying back Oct'.. this afternoon, or tomorrow.
Have a good Tuesday.
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8.00am
meanwhile.. another posting from some maniac...
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sp' +35pts.. 1956.. a straight run to the 1970s looks due today/tomorrow.. makes little difference.
time to shop... back soon.
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8.44am.. a few of the ETF movers...
TVIX -10%, VXX -5%
YANG (3x bearish China) -20.0%, YINN +20.0%
SSO (2x sp'500) +3.7% in the $57.80s.
ERX (3x long energy) +3.9%... which considering oil (-0.6%) is rather good.
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9.00am Kooky print on the SPY.. 190.23... equiv' to sp'1900 Algo-bots gone wild?
.. back to sp +36pts.. . 1957.
AAPL +1.9% in the $111.30s. Hmm
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9.33am.. EXITED AAPL-long from $111.70s.
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9.40am.. VIX -10%... already in the 24s. 20 looks an easy target...maybe mid teens by Fed day (Sept 17th)