Poised to pop *again*......SPX edition.

[tommcginnis]

I'm gonna be ill.
Here's the TRIN bearishly ticking upwards past 0.90, and the market still doing the popping thing regardless. (Up 10.5pts at 10:25ET)
Topside getting squ-weeeeeezed.
Gotta go.

 

[punisher]

stops on all 4 indices tripped, that should stop the rally for today

 

[kashirin]

Exactly.
But your first post implied rampant, un-reasoned printing of money. The steady performance (on the Monetary Policy side) of the economy connotes a precise and well-executed 'printing of money.'

from what I see exactly rampant and totally uncontrolled money printing happening in Japan now

still no inflation

 

[beerntrading]

Think this continues the drive upwards next week? From my vantage point, this looks like a bullish day with an (expected) tech correction. Consumer defensive and utilities lagged while the broader market moved up and tech dragged down the indices.

 

[tommcginnis]

stops on all 4 indices tripped, that should stop the rally for today

Damn, man! You timed the turn *perfectly*.
Hope you made out okay.

 

[tommcginnis]

from what I see exactly rampant and totally uncontrolled money printing happening in Japan now

still no inflation

Actually, the opposite in Japan -- and again, no rampant or totally uncontrolled printing of money. I wonder where it is that you think you're going with this...

 

[tommcginnis]

Think this continues the drive upwards next week? From my vantage point, this looks like a bullish day with an (expected) tech correction. Consumer defensive and utilities lagged while the broader market moved up and tech dragged down the indices.

That low(-ish) to balanced TRIN implied *lots* of turnover, as non-tech was bought. Were this not a Fed week coming up, I would think things would be as you surmise: a drive "continuance" upwards. But with the Fed, I think that not only quantity, but sector-wide buying lists are being held back, to see what the Fed will be up to (via the verbage and the press conference afterwards). Once more facts are known, buy what you can on Wednesday, and then let the ponies loose on Thursday.

SO, I CALL TODAY A FAIL for my call, because I noted we might "fart around here" at ±10pts. I DID NOT expect a vaunt higher first thing, NOR an hour-long swoon 30pts in the other direction -- only to close basically flat. That's a *lot* more cash than I thought would be at play.

(Which, in my mind, means a lot more cash raring to go on Wednesday.......)

Hoo boy.

"Pop"? Yeah. Sure. "Fart around"? Nope. Missed the pogo-stick market entirely.

HAVE A GREAT WEEKEND, ALL.

 

[beerntrading]

That low(-ish) to balanced TRIN implied *lots* of turnover, as non-tech was bought. Were this not a Fed week coming up, I would think things would be as you surmise: a drive "continuance" upwards. But with the Fed, I think that not only quantity, but sector-wide buying lists are being held back, to see what the Fed will be up to (via the verbage and the press conference afterwards). Once more facts are known, buy what you can on Wednesday, and then let the ponies loose on Thursday.

SO, I CALL TODAY A FAIL for my call, because I noted we might "fart around here" at ±10pts. I DID NOT expect a vaunt higher first thing, NOR an hour-long swoon 30pts in the other direction -- only to close basically flat. That's a *lot* more cash than I thought would be at play.

(Which, in my mind, means a lot more cash raring to go on Wednesday.......)

Hoo boy.

"Pop"? Yeah. Sure. "Fart around"? Nope. Missed the pogo-stick market entirely.

HAVE A GREAT WEEKEND, ALL.

Oh, forgot FOMC...hopefully I'd catch that in the high premiums (history is not on my side). Hopefully I remember when it's time to start opening positions on Monday.

Don't feel so bad, I dumped a put debit spread over 2420-2430 while s S&P was 2432 today (the first time). Though I did catch the tech dump in time to profit from it...even if I missed the forest through the trees, the moss on the trees led me in the right direction...which is to say I dumped my bulls, and held my bears yesterday. And that in spite of being tipped off to the impending tech correction a few days back.

 

[i960]

"Blah blah blah, inflation and growth not as strong as expected, continue to monitor changes, etc." SPX++ from there.

It'd be even more awesome if they didn't actually hike, completely throwing everything off expectation wise.

 

[kashirin]

Actually, the opposite in Japan -- and again, no rampant or totally uncontrolled printing of money. I wonder where it is that you think you're going with this...

yeah, yeah, printing 25% of GDP per year is controlled and responsible