What a way to send off September and the third quarter.
But it was to be expected.
Expert technical analysis of financial markets by JC Parets
by David
From the Desk of Kimmy Sokoloff
What a way to send off September and the third quarter.
But it was to be expected.
by JC
Who’s left to sell?
That’s the question I find myself asking as we finish up the 3rd Quarter today.
(We’ll discuss it all Monday night 6PM ET during our Live Monthly Charts Strategy Session)
Since the market peaked in February 2021, it’s been a slow grind lower for stocks all over the world.
We’re now approaching 20 months of this ongoing bear market.
It’s no longer a secret that stocks are going down.
You can see it in the Put/Call Ratio hitting levels last seen at the 2018 and 2020 market lows: [Read more…]
by David
From the Desk of Kimmy Sokoloff
As of now, the S&P 500 is still managing to hold onto the 3,600 level, and the $SPY is at 360.
Should we really break below 360, we can see 359, then 354.80. You can always trade long against the SPY 360 level and use 360 as a stop if you like.
by Ian Culley
From the Desk of Ian Culley @Ianculley
Don’t let credit spreads fool you.
High-yield debt hasn’t blown out relative to Treasuries. Regardless, the largest markets in the world are buckling under pressure.
You have to look outside the US and beyond high-yield corporate bonds to see the stress. Here are three cautionary data points to consider: European sovereign spreads, US bond market volatility, and the steep decline in investment-grade bonds.
When you weigh the evidence, it’s clear risks are rising for US markets.
Let’s look at the charts!
by David
From the Desk of Kimmy Sokoloff
Yesterday is seeming more like a one-hit wonder, as the indices dropped hard today.
The $QQQ finally played catch-up to the $SPY and hit a new low.
by JC
You see what just a little bit of Dollar weakness does to this market?
I’m telling you. I’m not making this up.
Now here’s the thing. Let’s remember that extreme volatility IN BOTH DIRECTIONS is commonly found near turning points.
Last time the US Dollar Index had a single day GAIN as large as Friday’s was 3/19/20.
Last time the US Dollar Index had a single day LOSS as large as Wednesday’s was 3/26/20.
The Dollar Index peaked on 3/20/20. Stocks bottomed the very next trading day on 3/23/20.
Here’s a look: [Read more…]
by David
From the Desk of Kimmy Sokoloff
Futures are lower this morning.
Hopefully, we’re digesting yesterday’s big move in the indices.
by JC
For this week’s trade, we’re Selling the BRKB November 260 Puts Naked
Get the full details, risk management procedures and targets for this trade here: