Quick observations (audio message included for TTG members + Slack trading room) - Breadth very strong - Bonds ~ flat - US Dollar +0.3% - VIX -6% 20 - Crude +2.8% Nat Gas flat Bottom Line: Nice rebound where price needed to turn (S&P bottom of value & 1hr VPOC) on strong breadth. IWM Small Caps leading a bit this week (see chart below vs QQQ). Bonds are quiet today but I continue to see puts on the tape... for example, there are now 211k open interest on the Mar 95s puts. I continue to focus on short term duration trades while price action remains whippy.
Market Observations & Charts 12-21-22
Market Observations & Charts 12-21-22
Market Observations & Charts 12-21-22
Quick observations (audio message included for TTG members + Slack trading room) - Breadth very strong - Bonds ~ flat - US Dollar +0.3% - VIX -6% 20 - Crude +2.8% Nat Gas flat Bottom Line: Nice rebound where price needed to turn (S&P bottom of value & 1hr VPOC) on strong breadth. IWM Small Caps leading a bit this week (see chart below vs QQQ). Bonds are quiet today but I continue to see puts on the tape... for example, there are now 211k open interest on the Mar 95s puts. I continue to focus on short term duration trades while price action remains whippy.