Market On A Mission
The VIX initially gave the appearance that we would finally see a pullback, but the decline was suspended and we ended up with yet another boring day amongst a series of boring days. How much more “boring” will the market give us?
Nearing An Inflection Point
We are rapidly approaching upside targets, and QQQ vindicated our call for “catch-up” to the S&P with today’s relative strength. An inflection point may be nearing, potentially within days (or sooner).
Too Bearish, Too Soon?
While the AAII survey shows that investors are not very bullish, they may be surprised by the continued grind higher. We look closely at a few reasons to support this notion.
Tech May Be Down..But Is It Out?
While the semis decline may be a warning sign for the intermediate to longer term, we may be approaching an area where SMH and its representative holdings may stage a rebound attempt. Let’s look at NVDA and QQQ in today’s short holiday edition of our newsletter.
Slow Grind Higher
The slow grind continues as non-tech indices lead us higher. With the VIX back in an area that was resistance-turned-support, will the grind higher continue or will we see a pullback first?
Exaggerated Rumors Of The VIX’s Death…
Well, there it is, or rather, there they are. We saw the VIX drop to 14.5 and SPX hit 6000, with a reversal immediately occurring thereafter. Let’s look ahead at the short week and talk a little about positioning into December.
Resistance Breached..But Not Tech!
Intraday action has been tricky lately, but the highest probability still points toward higher, even if briefly. What do we see looking at this upcoming shortened Thanksgiving week?
RIght On Track…
We’re right on track for our highest probability outcome to come to fruition, including today’s rally to the Hull Moving Average on QQQ, SPY, and SPX. Tonight, let’s look at the next scenarios more closely.
6000 Or Bust
The VIX continued its climb, making yet another recent high, yet we see a potential reason for bulls to be optimistic heading into the end of the week.
Change is Imminent
The VIX made a higher high today, reaching the 18-area that we’ve mentioned as the zero GEX level. We are still within the range that we’ve expected until we are beyond VIX monthly option expiration in the morning. What’s next?
VIX Expiration & NVDA Ahead
We saw a dramatic positive reversal in GEX for indices today, while price action was positive, though not overwhelmingly so. Looks like the next move will boil down to the resolution of VIX expiration Wednesday and NVDA earnings thereafter. What clues do we have at the moment?
There It Is….
The VIX spike arrived just in time as we were warning our readers last week. We can’t spend too much time taking victory laps, we still need to make money tomorrow and the next several days and weeks ahead. What’s next?
Already Dropping, Nothing From The VIX?
The negative divergences and signals we’ve been noting have seen some follow-through, and we might not be done just yet.
Building Negative Divergences
Negative divergences are starting to build up, though previously mentioned AAPL and MSFT have kept indices composed, for the most part..At least for now. Is the VIX getting ready to spike?
Markets Meet CPI: VIX Crush Or Push?
Indices are struggling to push higher this week, though downside has been very limited as of yet. Tomorrow morning we will see the CPI report premarket. Will this shake the market out of its slumber?
Is QQQ Trying To Leave The Party Early?
Negative divergences emerged this morning as QQQ had a sharp intraday drop, only to be “saved” for a relatively flat close. Welcome to OpEx! But can CPI and PPI as well as Powell perhaps make this week a little more interesting than some?
Overbought Heading Into OpEx?
Broader indices are showing signs of needing a breather, but heavyweights AAPL and MSFT point to the possibility of yet another push higher which may yet extend our wait for a deeper pullback.
Change Is In The Air…
QQQ hit our 515 target and SPX is a stones throw away from 6000. The VIX has reached 15. This is where it gets tricky..
Approaching Resistance
We saw GEX’s “predictions” play out nicely with the aftermath of the US Presidential elections, but we’re quickly approaching short-term resistance. Will we blast through or is it time for a pause? FOMC tomorrow may have a part to play in the outcome.
Bullish Expectations Remain..For Now
Markets rebounded today, possibly signaling some degree of confidence that we will have a winner announced in short order. We also noticed bullish realignment of SPX GEX, with higher strikes reflecting shorter term expiries than before. Will we see 6000 sooner than expected?