Amazon has broken it's up channel from the 22 lows, it also peaked above the 21 high for less than 2 weeks, potential bull trap. Jeff Bezos has been selling, he was selling in 2021 also. Consumer discretionary is now down for the year, while the leading sector is utilities up 18%. With all the hype about the magnificent 7, is this contrary indicator now in play?
Equity options volume is generated mostly by nasdaq stocks, tesla and nvidia have been volume leaders for quite some time. When the macd signal line goes up through zero it generates a sell, this doesn't always work, so you must use this in conjunction with other indicators.
What is unusual now is that with a nasdaq drawdown is much deeper than the april...
Bonds are breaking out of a big base on volume. We had 5 waves down to the October 23 low, now forming a breakout of an inverse head & shoulders base. Now that people have capitulated on hard landing that was popular consensus during 22 and early 23 (contrary indicator) and the consensus is soft landing and AI is going to save us all, is a recession now back on...
I went back and looked the monthly bollinger bands on spx only a few occasions got to this width or higher-
Bollinger has said trends go to die in widening bands
55 bull market
74 bear market
1983 bull market
1998 very close to this level
2008 bear
could we say 2021
is an initiation like
1955 (post wwII/korean war)
1983 (post 70's inflation washout -...
Inflation is the hot topic, deflationists have been told to leave, don't let the door hit you on the way out.
Anytime the weekly RSI on TLT has gotten this oversold we have been at or near a bottom.
Maybe Inflation Nation is getting too crowded and GOLD which follows TLT closely is sniffing this out.
The "Big Short" is buying call options on 3X levered Short...
Potential ending diagonal for commodities.
Overbought weekly RSI with divergence into an area of resistance.
Bond market has been telling us that the inflation hysteria was overdone and the crowd was all on one side of the boat.
Energy held strong while most other commodities have rolled over. Energy may join now.
Even if you believe that we have started a...
SMH just made new ATH, bonds have stabilized. Big inflows lately into Finance & Energy - outflows in tech. Looks like we are breaking this channel.
is the worm turning?
as always this is for entertainment purposes only.
this tape will self destruct in 30 seconds,
and the secretary will disavow any knowledge of your actions.
I just posted a bearish chart, here is one for the bulls
Everybody has noticed tech is getting a bid now that cyclicals are pulling back. While there have been recent massive flows into cyclicals, especially Financials & Energy, there have been outflows in Tech and Cathie Wood who back in December was considered god-like has taken her lumps
Adobe and Nvidia...
Trips to overbought RSI have produced consolidations to change of trend, however all that have touched the upper channel have caused change of trend.
Overwhelming consensus has been long stocks - short bonds. Are we seeing an inflection point?
XOI oil index vs Nasdaq. Most hated vs Most loved (seems tide is turning for both)
Weekly RSI on this ratio unheard of 9 in April 2020.
I will always remember the great Kennedy Gammage of the Richland Report
talk about the cyclical shift between paper assets and hard assets.
That was in the 1998-2000 time frame when Gas was a $ at the pump and gold was selling...
UVXY back at demand line, spike in Equity calls over the last couple of sessions, many narrow range days, if I squint I could call the SPX rally a rising bearish wedge into resistance. Oh ya, meme stocks are back. chop chop, we still in a trading range?
If this count is correct, we should have another leg up in bitcoin. Big volume, spread, big tail on candle, RSI oversold, Margin calls aplenty. Correction to the wave 4 bottom of previous impulse.
Declining 200dma and upper channel resistance, some caution may be warranted here if your long, If your bearish this might be an area to watch for short entry.
Until we've made it out of this channel,
Plenty of talk of Mints raising febrication costs, shortages, premiums. Most of the WSB "squeeze" trapped buyers have probably exited during this correction.
May be time for a squeeze that is lasting.
