The BOFF BOOM move might reach Mars before Elon does. But the VIX is staying elevated and pumping a little higher on the same days SPX is printing new highs, and that is not how it is supposed to go. Bull trap, blow off top thingy, or just a stubborn tape? Plus a simpler transformer that landed both profit tents.
...The July FOMC moved September hike pricing three points. A Treasury Secretary’s unsigned remark moved it ten. ADP prints this morning and payrolls land Friday.
...September hike pricing fell ten points on one unsigned sentence about a waterway. The S&P booked a record. Then two companies beat everything and lost eight percent each.
...Yesterday I said gap higher, trade lower. The setups said go bullish. Guess which one got traded, and guess which one paid. Plus ES prints an overnight NATH, crude reacts off the same zone again, and ETH/BTC has a bigger bear move on offer below 0.0287.
...An attack was cancelled, so crude gave up five percent and the Dow booked a record. Thirty hours later crude is buying it back and equities are not. Both cannot be pricing the same thing.
...Crude gave up five percent because a strike was cancelled, then bought a third of it back overnight because a projectile hit a cargo ship. Equities kept the lot and added more.
...Crude fell off a cliff over the weekend because a bomb wasn’t dropped. I kid ye not. Stock index futures are gapping up small to none depending on the index, SPX is heading straight into the longer term range highs, and RUT is shrugging the whole thing off. Plus a Wall of Wins full to the brim to close out July.
...Crude gave back 5.46% because a strike was called off, not because a barrel moved. Iran’s ministry says the talks now underway do not cover whether Hormuz opens at all.
...Crude gave back 5.46% because an attack was called off, not because a barrel moved. Iran’s own ministry says the talks in progress do not cover whether Hormuz opens.
...Just when you think the bulls are locked up and the bears are loose, everything flips over and SPX lands right back inside the same tight range it was in before FOMC. A lite one today. The TnT setup can wait, the month paid anyway, and my bags are already in the car.
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