11am update - minor wave lower

Not surprisingly, the market volatility continues, with a retrace of the powerful opening gains underway. There will no doubt be further down swings in the days ahead.. but broadly.. .we're likely headed to the big sp'2000 threshold. Mr Market will want to grind those shorts OUT into the FOMC, before next opportunity of a down wave.


sp'15min

Summary

No doubt a fair few bears are already screaming 'see!.. we're already fading away'.

Thing is, those same people were touting the end of the world last week, instead, we've merely put in yet another higher low.

notable weakness: NFLX -3% in the $95s..... ugly!

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I've eyes on DIS... and will almost certainly be leaving AAPL alone (long side) for some weeks.

DIS, 15min

DIS looks a viable short term long into FOMC week. First target is the 105/106 zone.. and considering we were in the 103s already today.. that looks an easy target.

All things considered, things are looking on track.
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*notable stomach churning warning...

Ms. Quick with Buffett.. 11.30am EST.. clown finance TV.. channel'1.
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11.42am... sp'15min

Best guess... 1945/40 zone or so... then back UP

10am update - opening gains

US equities open significantly higher, with the sp' +38pts @ 1959. Regardless of any retrace into the afternoon/early tomorrow, the market should comfortably break above the psy' level of 2K. From there, it is merely a case of getting stuck somewhere in the 2010s, or even the 2050/70 zone.


sp'60min

VIX'60min

Summary

There is a lot to cover.. but there is a long day ahead.

Suffice to note.. market now has three key lows.. 1867, 1903, and 1911. I sure don't think we'll be trading under there for some weeks.

Daily MACD cycles are in the process of achieving some important bullish crosses.. but more on that later.


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*I EXITED AAPL-long from the $111.70s.... a moderate gain, since my entry was not so great (late Thursday, 110.10s).

Right now, I'd be much more inclined to go long DIS... via Oct' calls, but for now, I ain't doing anything until the 2pm hour.
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time to cook.   back soon


10.07am.. Eyes on DIS

I'd like something in the low $102....  probably this afternoon.
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10.17am.. notable weakness: NFLX -1.9% ... back in the $96s... really struggling.

DIS is cooling,  $102.70s

Pre-Market Brief

Good morning. Equity futures are powerfully higher, sp +41pts, we're set to open around 1962. First key target is the psy' level of 2000, with best bull case of the 2050/70 zone in FOMC week.


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)