Wednesday was a good day to take off. Concert was jolly good fun. Members smashed it on the Poppers without me.
SPX swings still bullish and paying out. RUT has flipped bear off the NATH.
Crude filled the gap. Only the $65 target remains. Swings cashed out, waiting for the next entry.
NFP Thursday could be the catalyst. Dow and RUT printed double tops. I’m leaning bear.
VIX bidding back in three sleeps before payrolls is a small number with a load-bearing direction. Today’s Macro Edge sits with what the hedge bucket is quietly admitting, and whether the front end will corroborate.
...Payrolls and Tesla deliveries share the 8:30 ET clock this Thursday, the market shuts Friday, and the only instrument that admitted a view overnight was the VIX, ticking back in three sleeps early.
...Tuesday closed out June with a corker. Shortened week ahead, NFP Thursday, 4-day weekend incoming.
SPX riding the upper Bollinger Band. MACD-v in bullish extreme, skip bearish Tag ‘n Turn setups.
RUT still in the BB pinch. Wait for the breakout, or watch the 10-min 1-DTE play.
Premium Popper banked it: SPX DOUBLE (+4) at 2x, RUT PLUS (+3) at 1.5x. Easy day.
The S&P closed the best Q2 since 2020. Bitcoin hit a seven-month low on the same screen. VIX took the day’s biggest move at minus 6.80%, three sleeps before NFP. Should it?
...S&P 500 closed its best second quarter since 2020. Bitcoin printed a fresh seven-month low. VIX printed 16.46 the day before ADP, ISM and NFP. One of those readings priced the next forty-eight hours wrong.
...Markets ripped Monday, momentum carries into Tuesday with smaller overnight moves on top.
SPX trending out of consolidation, %R at bullish extreme, 7,600 target zone in sight.
RUT EA flags SKIP on the cash. The Bollinger Band pinch on 10m offers a 1-DTE alternative.
Premium Popper split today: SPX HALF (-2, reduce or skip), RUT NORMAL (+2, clean pop and drop).
Gold, Crude, and BTC all grinding sideways. Bears hibernating on BTC, 50K spelunk likely next.
Three assets read the same Fed-independence ruling three different ways on Monday. Equities heard a gift, the 2-year heard nothing new, and the largest corporate Bitcoin holder heard “ration the receipts”. This is the question that puzzles me most this week.
...The Supreme Court preserved Fed independence on Monday and stocks took it as a gift. Strategy’s board took it as a cue to authorise $1.25 billion of Bitcoin sales. Bitcoin took both and stayed under $60K.
...Bullish overnight push across the indexes. Enough to be exciting, not enough to be abnormal.
New Tag ‘n Turn Expert Advisor calls Friday’s SPX setup a PLUS, with size at 1.5x. Add-in confirms above ~7,400.
Crude meandering at the upper end of the 27 Feb gap. Juice or squeeze? The flip from calls to puts is coming.
BTC probing below 58.5k, no fresh sellers yet. Bear bias still in force. 67k is still a way off.