Just as I feared, futures are making new highs without our (at least my) involvement.
I'm looking at ES and biting my elbows wishing I could trade futures
lol me neither..neither does a break to new highs by 3 points in AH on lite volume really mean its concrete. Still reverted to below 1405
Wanted to say also with the Japan report yday with slower growth in 2nd quarter wouldn't surprise me to see the market take a breathe.
Might just be laggy on pricing that in since its options exp week..
It doesn't necessarily imply anything, but could be because if ECB is doing better it may need less money printing, which typically drives up gold. Gold speculators might get spooked by good economic data.
Here are the lines I'm watching at the moment. I built myself a small program for modeling SPY but haven't used it with a real portfolio yet so I'm still in cash (in regards to SPY). Right now we're right at the upper resist but not breaking it yet (or if) - so I'm waiting for that first.
Was personally really surprised we managed to grind higher without a pullback though - was hoping for an entry by now as I was out for the summer. :(
Good info By Steve Place about TVIX - UVXY
This is going to be my last comment for a while on this whole $TVIX debacle.
I don't get it.
I really don't.
I have so many traders that come to me and say "I am going to stay away from options because they confuse me."
But all of a sudden you have a bunch of volatility etfs that track a derivative of SPX options implied volatility and all of a sudden it's a good idea to trade-- or, FSM forbid, "invest."
Because now, it's just "a stock that goes up or down."
You may have never traded an option in your life, but by golly these etfs are awesome when the market crashes.
Because the top is just around the corner, right?
I'm going to make this crystal clear.
If you know: