Gold is higher, with some dollar weakness and yields essentially flat with the 10 year sitting at 4.22%.
We get some Fed speak this week kicking off today. Markets are closed on Friday for Good Friday. We get the Fed's preferred inflation gauge out on Friday with the market closed, with core PCE coming out when the market will actually be closed.
Boeing CEO is finally out of his job, and that stock is getting a small pop this morning. I'm surprised it actually took this long for a change of leadership considering the constant barrage of bad news with that company.
AMD and INTC are trading lower on news that China will try to restrict foreign chips, which should be no surprise. NVDA is flat.
AAPL is lower by more than $1 this morning as its slide to lower prices continues.
There is a lot of pressure on this market with prices at such lofty levels, and the Fed still maintaining 3 cuts sometime this year.
Disney is trading higher this morning even among market weakness.
We will see how this market trades to start the week ahead of a very important data point on Friday when exchanges will be closed.
Stay tuned for updates!
Disclaimer: Trading in securities such as stocks, options, indexes, currencies, and futures involve risk and should not be undertaken without due diligence and serious independent study. Options, stocks, currencies, and futures trading involve substantial risk. Subscribers may carry out their trading based on what they learn from “Rocket Equities & Options” however all risks of potential financial losses are the customer’s responsibility. TFNN, Corp. will be in no way liable for financial losses resulting from trading decisions based on this newsletter. Past performance is no guarantee of future results. Reproduction in whole, or in part, is not permitted without prior written consent. Copyright 2024 all rights reserved.
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NVDA had their keynote speech last night, where their CEO delivered their newest chip that has 208 billion resistors.
The Bank of Japan raised rates today for the first time since 2007, but the Yen actually weakened on that news as the BOJ sounded a bit dovish with no further plans to hike as of now. The USD/Yen is back pushing recent highs above 150.
The market now looks towards tomorrow as we hear from Fed Chairman Jerome Powell with their announcement at 2pm ET, and a press conference to follow at 2:30pm ET.
It's basically a guarantee that they will leave rates unchanged at 5.25% - 5.50%, but the market will look for any clues as to what the rest of the year will look like. The Fed will update their 'dot plots', where they give us some indication of what rates the members anticipate we will be at as the year progresses.
As of now, the market is pricing in a cut in June, with three 1/4 points cuts total throughout the end of this year. We will see if Powell and the Fed change any of those expectations tomorrow afternoon.
Gold has pulled back from the recent highs but has held up relatively well considering the Dollar strength and Yen weakness.
Disney continues to trade higher with strength, pushing recent highs today.
The VIX continues to make a series of higher highs and higher lows, alluding to something in this market that may be running out of steam at these lofty levels.
I will have an update out Thursday once we make it past the Fed and we see where the dust settles. Stay tuned for updates!
Disclaimer: Trading in securities such as stocks, options, indexes, currencies, and futures involve risk and should not be undertaken without due diligence and serious independent study. Options, stocks, currencies, and futures trading involve substantial risk. Subscribers may carry out their trading based on what they learn from “Rocket Equities & Options” however all risks of potential financial losses are the customer’s responsibility. TFNN, Corp. will be in no way liable for financial losses resulting from trading decisions based on this newsletter. Past performance is no guarantee of future results. Reproduction in whole, or in part, is not permitted without prior written consent. Copyright 2024 all rights reserved.
]]>ORCL is trading right near all time highs. This market will have some volatility this morning digesting a hot CPI number.
Place an order to close out or option trade at $1. We will need a move back to about the $124 range to get executed but sometimes equities rip one way or the other when markets open and we find out where supply equals demand. Get your order in just if the equity rips lower on the open.
We got the CPI numbers for February at 8:30am and it was a bit hot, meaning when we get the new dot plot next week we could see the Fed possibly trim how many cuts they are looking for this year. Equities are actually trading higher on a hot inflation number, as it seems like it is no longer the case that good news is bad news.
Disclaimer: Trading in securities such as stocks, options, indexes, currencies, and futures involve risk and should not be undertaken without due diligence and serious independent study. Options, stocks, currencies, and futures trading involve substantial risk. Subscribers may carry out their trading based on what they learn from “Rocket Equities & Options” however all risks of potential financial losses are the customer’s responsibility. TFNN, Corp. will be in no way liable for financial losses resulting from trading decisions based on this newsletter. Past performance is no guarantee of future results. Reproduction in whole, or in part, is not permitted without prior written consent. Copyright 2024 all rights reserved.
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If you look at the ES on a weekly basis all the way back to when the market made highs at the start of 2022, we are now on the verge of a 1 to 1.618 expansion, which would bring the market to around the 5,615 price point. This price area is right above the 1 to 2.618 expansion area that correlates to the move on a daily basis dating back to the highs in the market in July of 2023, to the run that began in October of last year. If the market does make it up to the 5,400 to 5,600 price area, then look for this to be a large area of resistance.
I think we have already begun to roll over for a slight pullback and consolidation around this price level.
The VIX has been making a series of higher highs and higher lows all the way back to December 12th when it made a low of 11.81.
Inflation has gotten sticky, just as many had expected earlier on, but that does not mean that the Fed must stay at 5.25 - 5.50% range, they probably have room to begin cutting in the next few months and they will still be able to make the reasonable case that they are still in a restrictive policy and still have work to do. We get CPI numbers tomorrow at 8:30am ET for the month of February. We also get PPI and retail sales on Thursday, as well as Consumer sentiment on Friday.
Chart from Bloomberg
Options Trades: New Bearish Trade in ORCL for earnings out Monday night.
We are going short ORCL with an options trade around earnings tonight, and we are going bearish. This market looks jittery with the VIX showing signs of participants paying up for insurance premium. We are selling a credit call spread above the market, looking for ORCL to trade flat to lower after earnings tonight.
The market is pricing in almost a $10 move in either direction around earnings tonight.
We are selling a March 15th ORCL Credit call spread from $123 to $125. ORCL is currently trading at about $114.
Sell the March 15th ORCL $123 Call
Buy the March 15th ORCL $125 Call
This should result in a credit of about $0.40 right now with ORCL trading just above $114. Don't take less than $0.35 for this trade.
This is a bearish trade and we are risking $160 to make a maximum profit of the $40 we collect upon initiating the trade. We are risking $4 for every $1 in potential profit. This is a high-risk trade.
Equity Trades:
Long 1/2 position in DIS at $98.75. Disney is trading at $111.79. DIS is trading higher in a negative market day, continuing to show strength to the upside.
We have Dick's sporting goods (DKS) out with their numbers later this week, along with the Dollar stores, ADBE, and many others. Stay tuned for updates!
Disclaimer: Trading in securities such as stocks, options, indexes, currencies, and futures involve risk and should not be undertaken without due diligence and serious independent study. Options, stocks, currencies, and futures trading involve substantial risk. Subscribers may carry out their trading based on what they learn from “Rocket Equities & Options” however all risks of potential financial losses are the customer’s responsibility. TFNN, Corp. will be in no way liable for financial losses resulting from trading decisions based on this newsletter. Past performance is no guarantee of future results. Reproduction in whole, or in part, is not permitted without prior written consent. Copyright 2024 all rights reserved.
]]>Even with NVDA up 6% today, the NQ is still in the red, and the ES is positive by about 7 points.
We get a ton of economic data this week. Powell speaks in front of the House on Wednesday, and then the Senate on Thursday. ADP private payrolls Wednesday. State of the Union Thursday night. Non-farm payrolls Friday morning (wages and jobs etc etc). And a possible govt shut down looming at the end of the week as well.
Gold is continuing to push higher. This move looks to be real and it still may be early in the Gold run. You should have some exposure to Gold in your portfolio here. We will look to possibly add some gold exposure going forward.
Disney is trading higher, up by almost 1.8% at $113.96.
We closed our SPY options trade on Friday for a tiny profit. We will look to make more of these trades as I expect we could get a bit of a choppy market after quite a run and we are looking for opportunities to absorb premium in the options market, even with a VIX relatively low.
Stay tuned for updates!
Disclaimer: Trading in securities such as stocks, options, indexes, currencies, and futures involve risk and should not be undertaken without due diligence and serious independent study. Options, stocks, currencies, and futures trading involve substantial risk. Subscribers may carry out their trading based on what they learn from “Rocket Equities & Options” however all risks of potential financial losses are the customer’s responsibility. TFNN, Corp. will be in no way liable for financial losses resulting from trading decisions based on this newsletter. Past performance is no guarantee of future results. Reproduction in whole, or in part, is not permitted without prior written consent. Copyright 2024 all rights reserved.
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"US consumer sentiment fell in February for the first time in three months as current and expected views of the economy deteriorated. The sentiment index declined to 76.9 from 79 in January, according to the final February reading from the University of Michigan. The figure was lower than all estimates in a Bloomberg survey of economists." - Bloomberg
If the SPY hits $511 then close our SPY credit call spread that expires today. The SPY is currently trading at about $510, and our option trade is currently at about $0.45; we want it to go to $0. We are not going to risk a full loss in this trade, if the SPY hits $511 then just close it. Otherwise let it run into the close.
The market likes this weak economic data. Yields have pulled back with the 10-Year hitting 4.2%, down from almost 4.3% at just prior to 10am this morning. The Dollar is falling, and Gold is spiking higher.
We will look for the SPY to stay below the $511 price point or we close our trade.
Disclaimer: Trading in securities such as stocks, options, indexes, currencies, and futures involve risk and should not be undertaken without due diligence and serious independent study. Options, stocks, currencies, and futures trading involve substantial risk. Subscribers may carry out their trading based on what they learn from “Rocket Equities & Options” however all risks of potential financial losses are the customer’s responsibility. TFNN, Corp. will be in no way liable for financial losses resulting from trading decisions based on this newsletter. Past performance is no guarantee of future results. Reproduction in whole, or in part, is not permitted without prior written consent. Copyright 2024 all rights reserved.
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Week of Volume in SPY:
1/1/24 397M shares
1/8/24 344M shares
1/15/24 357M shares
1/22/24 357M shares
1/29/24 437M shares
2/5/24 318M shares
2/12/24 375M shares
2/19/24 269M shares (336M shares if 5 days)
We get PCE, the Fed's preferred inflation gauge, on Thursday morning. Expectations are for a hot number with the M/M projections for headline and core to come in at 0.4% higher for January, vs 0.2% higher for the prior month.
Our SPY options trade has a lot of time left. The SPY is currently up slightly on the session at $508.10. We are looking for the SPY to close Friday below $511 for a maximum profit. Our max loss is if the SPY closes above $514. Our breakeven is about $511.90. We are risking $2.10 for $0.90 of profit with this trade.
This morning that option trade is currently at about an $0.85 credit, just below where we placed it. There will remain some volatility premium in this trade ahead of Thursday's inflation data. We also get 4th quarter GDP on Wednesday, along with some Fed speak this week.
We still have equities out with their numbers this week including Macy's on Tuesday, PARA and CRM out Wednesday, along with many others.
I imagine the bar is going to be pretty high for this market to find a way to spike higher, yet a consolidation is not out of the question.
The 10 year looks to have bounced off the lows of Friday. The 10 year yield currently sits at 4.28%. The Yen looks like it is bumping up against resistance near the 151 area, as the Dollar looks to have rolled over to lower prices yet again.
The VIX looks to be making a series of higher highs and higher lows, even as the market has pushed new highs almost on a weekly basis.
This may be the start of lower rates and a weaker dollar coming back at us. We will see if we get further consolidation or if things begin to heat up. Thursday's inflation data could provide some fuel in either direction.
Stay tuned for updates!
Equity trades:
Long 1/2 position in DIS at $98.75. Disney is trading at $108.46. We will look to add to this position in the future.
Options Trades:
We sold a $511 - $514 SPY March 1st credit call spread for $0.90. It is currently trading at $0.85. We want this to go to $0 for a maximum profit, as we already collected the premium and want it to expire worthless. This trade expires Friday.
Disclaimer: Trading in securities such as stocks, options, indexes, currencies, and futures involve risk and should not be undertaken without due diligence and serious independent study. Options, stocks, currencies, and futures trading involve substantial risk. Subscribers may carry out their trading based on what they learn from “Rocket Equities & Options” however all risks of potential financial losses are the customer’s responsibility. TFNN, Corp. will be in no way liable for financial losses resulting from trading decisions based on this newsletter. Past performance is no guarantee of future results. Reproduction in whole, or in part, is not permitted without prior written consent. Copyright 2024 all rights reserved.
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The VIX is sitting above 14 even when this market can only go up. We may just consolidate a bit or look for a slight pullback after an incredible run higher since October. The NQ still looks like it has some room to go if it is to complete its AB = CD, yet it has rolled over a bit today and is in the red as of 11am ET.
NVDA is still in the positive but just traded down $35 from its high of $823.94 made this morning and is now trading at $788.
We are going short this market with a bearish options trade. We are selling an SPY credit call spread above the market and will look to profit from a stall or any pull back by absorbing premium.
Selling a SPY March 1st $511 - $514 credit call spread
Sell the SPY March 1st $511 call.
Buy the SPY March 1st $514 call.
This will result in a net credit of about $0.90 right now. Our max profit is the $0.90, or $90 per contract pair, that we collect upon placing this trade. Our max loss is $2.10 or $210 per contract pair if the SPY closes above $514 as of next Friday's close.
This is a high risk trade so keep your position size in check, as any bearish trade in this market is obviously highly speculative. Don't get less than $0.85 for this trade, as the market has pulled back a bit as I've been writing this update, and this option is now at about $0.90 as of publishing.
Stay tuned for updates!
Disclaimer: Trading in securities such as stocks, options, indexes, currencies, and futures involve risk and should not be undertaken without due diligence and serious independent study. Options, stocks, currencies, and futures trading involve substantial risk. Subscribers may carry out their trading based on what they learn from “Rocket Equities & Options” however all risks of potential financial losses are the customer’s responsibility. TFNN, Corp. will be in no way liable for financial losses resulting from trading decisions based on this newsletter. Past performance is no guarantee of future results. Reproduction in whole, or in part, is not permitted without prior written consent. Copyright 2024 all rights reserved.
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The NQ is up 403 points right now or 2.3% for a gigantic move to the upside. I see the markets completing the AB=CD formations that are everywhere, and then we will see how we hand that price area, which is at about 5,122 in the ES, and 19,400 in the NQ. NVDA's AB = CD completes at about $800, and it's trading at $779 right now. I've included a chart from Bloomberg this morning illustrading how even as NVDA's share price has risen, their P/E has actually gone done as they continue to beat on revenue and earnings.
Jobless claims came in at 201K this morning as this economy moves along nicely. The 10 Year Yield as sitting at 4.32% as yields continue to creep higher. There is no urgency to cut as this market continues ot run hot, and the inflation picture is not as clear as the Fed would like it before they start with their cuts. If we weren't so low for so long, I don't think everyone would be as adamant that we need to cut dramatically anytime soon.
Volatility premium has dropped as we have made it on the other side of NVDA day, with the VIX sitting at 14.24 down from a high of 16.12 just yesterday. We will be patient for now and see how this market handles the lofty levels we are approaching. Stay tuned for updates!
We had one winning option trade and one losing trade, that's how it goes sometimes. We still have a nice entry for a half of a position in the equity DIS at $98.75. DIS is currently trading at $108.15.
Options Trades:
We sold an AMAT $187.50 - $190 credit call spread for $0.60 and lose $1.90 as it traded higher on earnings.
We sold a DASH $122 - $127 credit call spread for $1.50 and collected the $1.50 for a maximum profit as it traded lower on earnings.
Equity trades:
Long 1/2 position in DIS at $98.75. We will look to add to this position in the future.
Disclaimer: Trading in securities such as stocks, options, indexes, currencies, and futures involve risk and should not be undertaken without due diligence and serious independent study. Options, stocks, currencies, and futures trading involve substantial risk. Subscribers may carry out their trading based on what they learn from “Rocket Equities & Options” however all risks of potential financial losses are the customer’s responsibility. TFNN, Corp. will be in no way liable for financial losses resulting from trading decisions based on this newsletter. Past performance is no guarantee of future results. Reproduction in whole, or in part, is not permitted without prior written consent. Copyright 2024 all rights reserved.
]]>DASH is trading at $124.44.
We have a DASH $122 - $127 Feb 16th credit call spread that we initiated for about a $1.50 credit. Our max loss is about $3.50 if DASH closes above $127 as of Friday's close. Our max profit is the $150 we collected when placing the trade if DASH closes below $122 as of Friday's close. Our breakeven is about $123.50. Our call spread is currently trading at $2.37. If you wanted to close the position you would have to buy it back at the higher price, since we sold the credit call spread to begin with. We want it to go to $0. We are holding through earnings after the bell.
AMAT is trading at $188.75.
We have an AMAT $187.50 - $190 Feb 16th credit call spread that we initiated for about a $0.60 credit. Our max loss is about $190 if AMAT closes above $190 as of Friday's close. Our max profit is the $60 we collected when placing the trade, if AMAT closes below $187.50 as of Friday's close. Our breakeven is about $188.10. Our call spread is currently trading at $1.10. If you wanted to close the position you would have to buy it back at the higher price, since we sold the credit call spread to begin with. We want it to go to $0. We are holding through earnings after the bell.
We are holding these positions for now, stay tuned for updates!
Disclaimer: Trading in securities such as stocks, options, indexes, currencies, and futures involve risk and should not be undertaken without due diligence and serious independent study. Options, stocks, currencies, and futures trading involve substantial risk. Subscribers may carry out their trading based on what they learn from “Rocket Equities & Options” however all risks of potential financial losses are the customer’s responsibility. TFNN, Corp. will be in no way liable for financial losses resulting from trading decisions based on this newsletter. Past performance is no guarantee of future results. Reproduction in whole, or in part, is not permitted without prior written consent. Copyright 2024 all rights reserved.
]]>The 10-year yield is up to 4.28%. The DXY hit a low of 100.617 on 12/28/23, and is now pushing almost 105 this morning.
Eventually it will be time for the Fed to cut, but this data is not pointing to now as that time. The market has gotten ahead of itself again when it comes to rate cuts.
One particular aspect of today's report that was hot was housing up 0.6% on a M/M basis. Housing is a much larger component of CPI than PCE. We get 3 more readings of the PCE, the Fed's preferred inflation gauge, prior to the May meeting, so the data will decide where we go, but this report was hot on many fronts.
We had a nice execution in Disney last week for our equity position, and the options trade worked out well.
We have trades for DASH, and AMAT - both out with their number on Thursday after the bell. We are placing bearish options trades on both of them, by selling some premium.
DASH has about a 10% moved priced in for volatility in either direction with an implied move by Friday's expiration of $11.83. DASH is trading at $117.38.
AMAT has about a 6% move priced in for volatility in either direction with an implied move by Friday's expiration of $10.67. AMAT is trading at $181.72.
We are selling a credit call spread above the market in both equities.
We are selling a call above the market, and then to cap our losses we will buy back a call at a higher price. This will result in a credit that we will take in.
Both of these options are high risk and could result in a 100% loss so don't over do it on position sizes here and be willing to lose anything you put at risk in this options trades around earnings.
DASH
SELL $122 Feb 16th DASH CALL
BUY $127 Feb 16th DASH CALL
This results in a credit of about $1.50 or $150 per contract, which is our max profit. Our max loss is the $500 we risk, minus the $150 we took in, so $350.
AMAT
SELL $187.50 FEB 16TH AMAT CALL
BUY $190 FEB 16TH AMAT CALL
This results in a credit of about $0.60 or $60 per contract pair. Our max profit is the $60 we take in, and our max loss is te $250 we risk minus the $60 we take in, so $190.
Disclaimer: Trading in securities such as stocks, options, indexes, currencies, and futures involve risk and should not be undertaken without due diligence and serious independent study. Options, stocks, currencies, and futures trading involve substantial risk. Subscribers may carry out their trading based on what they learn from “Rocket Equities & Options” however all risks of potential financial losses are the customer’s responsibility. TFNN, Corp. will be in no way liable for financial losses resulting from trading decisions based on this newsletter. Past performance is no guarantee of future results. Reproduction in whole, or in part, is not permitted without prior written consent. Copyright 2024 all rights reserved.
]]>Equity Trade
Buy half a position in Disney. It is currently trading at $98.75. We will set a stop after we see how earnings trade, and once we enter the 2nd half of our position in the future.
Options Trade
Buying a Debit Call Spread from $99 - $103 in Disney for about $1.40. Risking $140 to make $260 per contract. Breakeven is at $100.40. Disney is trading at $98.75.
This should result in a net debit (cost) of about $1.40. Your max risk is the $1.40 or $140 per contract pair. Your max profit is about $2.60 or $260 per contract pair. This is a high-risk trade which expires on Friday. We are looking for Disney to pop higher on earnings tonight after the bell. Don't pay more than $1.50 if the market moves higher before you get a chance to enter this trade.
The market is pricing in about a $5.65 move in either direction in DIS by Friday's close. Disney is currently trading at $98.75
You can buy the equity, or the option trade, or both, whatever fits you best.
Disney has been chopping around at its .618 on a monthly basis since June of 2022, almost 2 years. Their next big slate of movies is not until 2025-2026, but things could start lining up with them ahead of that, and the news last night on the new deal with Fox and WBD for a streaming partnership built on sports will probably be advantageous going forward, and we may even get more details on that tonight. We just traded above a B point on a daily basis with volume.
Disclaimer: Trading in securities such as stocks, options, indexes, currencies, and futures involve risk and should not be undertaken without due diligence and serious independent study. Options, stocks, currencies, and futures trading involve substantial risk. Subscribers may carry out their trading based on what they learn from “Rocket Equities & Options” however all risks of potential financial losses are the customer’s responsibility. TFNN, Corp. will be in no way liable for financial losses resulting from trading decisions based on this newsletter. Past performance is no guarantee of future results. Reproduction in whole, or in part, is not permitted without prior written consent. Copyright 2023 all rights reserved.
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We have the Fed meeting next Wednesday, and it will be interesting to see what they have to say about a possible March cut. I do not see March as the meeting they will begin cutting, as they can probably hold out for 1-2 more meetings beyond March before they start the cuts. Markets are pricing in about a 40-50% chance we get a cut in March, which I think is way too high of a percentage at this time. The cuts are coming this year but probably more likely to start at the meeting on May 1st or June 12th.
I am seeing ABC's everywhere in this market, especially with the large Tech stocks. It looks like the Magnificent 7 have at least one more push to the upside.
The DXY has bounced to about a .382 retracement, and looks to move lower from here, which could add fuel to the Gold contract trading higher.
Gold has been in a consolidation for many years and looks like it is ready to break out to the upside once the DXY pulls back a bit from this 103 level.
Tech earnings look to power this earnings season, with the Magnifiect 7 expecting earnings growth of almost 47% this quarter, which dwarfs almost every other industry.
This will be an important week as we come into a Fed meeting next Wednesday, and tech earnings front and center - stay tuned for updates!
Disclaimer: Trading in securities such as stocks, options, indexes, currencies, and futures involve risk and should not be undertaken without due diligence and serious independent study. Options, stocks, currencies, and futures trading involve substantial risk. Subscribers may carry out their trading based on what they learn from “Rocket Equities & Options” however all risks of potential financial losses are the customer’s responsibility. TFNN, Corp. will be in no way liable for financial losses resulting from trading decisions based on this newsletter. Past performance is no guarantee of future results. Reproduction in whole, or in part, is not permitted without prior written consent. Copyright 2023 all rights reserved.
]]>Rocket Equities & Options Report 11-27-23
November 27th, 2023
by Tommy O’Brien
The market has now roared higher with the ES trading from 4,122.25 on October 27th to a recent high of 4,580.50, that’s 458.25 ES points, or a 11.12% rise in about 1 month. The NQ just went from 14,140.25 to 16,173.50, a rise of 2,033.25 points or 14.38% in one month. This has all occurred with yields dropping dramatically. Yields on the 10 Year Treasury have dropped from above 5% to 4.43% as of today. The market has reacted accordingly.
I’m including a chart from Bloomberg this morning looking at market expectations for cuts in the coming year from the Fed. There is now a 60% chance that they cut by 0.25% by May of next year, that’s up from about a 29% chance as of the end of October. So, since the market has priced in Fed cuts that likely start in May and continue, the market has popped 11-15%. Expectations are now priced in, and we will see if the market still has room to run or if it struggles with the new lofty valuations even with rates and inflation still elevated.
We get the PCE on Thursday, the Fed’s preferred inflation gauge. And then we get non-farm payrolls next Friday, December 8th. The Fed meets again Wednesday, December 13th, which is just 2 weeks from this Wednesday.
We get some Fed speak this week with many governors making planned remarks, and will hear from Chairman Powell himself on Friday December 1st.
The market looks to test the recent highs of 4,634 from July of this year. 4,607 would also be a 1 to 1.618 expansion of its recent pull back and trade to higher price.
Bitcoin is having quite a moment, and with both FTX and Binance now ‘taken care of’, it seems like the industry may be ready for the next leg higher.
The NQ is pushing all time highs
Crude looks like it is on its way back to the $70 range
Gold has been consolidating in the $1800 - $2000 range for more than 3 years. If yields are going down, and that will bring weakness into the DXY, then we could see Gold push higher here and breakthrough this consolidation area to the upside.
The 30-year Bond may look cheap, but it is important to realize that prior to 2008 it actually traded below this price level for most of that time.
The 10 Year looks cheap on a longer term monthly chart, but that data only goes back to 2003.
This ES chart keeps me on my toes as there would be nothing wrong with a pull-back here at some level in the next few years, almost a regression to the mean.
This VIX is back to $12.85 and is trading like we are pre-pandemic.
Stay tuned for updates as volatility is cheap right now and there may be some opportunities this week, especially ahead of the PCE on Thursday morning.
Disclaimer: Trading in securities such as stocks, options, indexes, currencies, and futures involve risk and should not be undertaken without due diligence and serious independent study. Options, stocks, currencies, and futures trading involve substantial risk. Subscribers may carry out their trading based on what they learn from “Rocket Equities & Options” however all risks of potential financial losses are the customer’s responsibility. TFNN, Corp. will be in no way liable for financial losses resulting from trading decisions based on this newsletter. Past performance is no guarantee of future results. Reproduction in whole, or in part, is not permitted without prior written consent. Copyright 2023 all rights reserved.