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Jump back to new highs in rates and USD today. Not ideal for markets.

AAPL puking the market there. 14:38 [AAPL] Reportedly cuts iPhone 14 Plus production - TheInformation - Less than 2 weeks after the debut of the iPhone 14 Plus, supply chain sources say Apple is cutting production, telling at least one manufacturer in China to halt production of components...

On the macro front. Rates holding (overall) flat over 4 trading days and slightly below the peak. We would like these to roll over (if only temporary) to see continued market strength. Crude has broken below a 3 day triple bottom today and back below all significant moving averages. (Good for...

91% adv vs decliners at the open on NYSE.

Canadians not pay any attention to 2008 or what?? https://www.cbc.ca/news/business/marketplace-mortgage-fraud-1.6614132

Doesn't have to be an all or nothing either. Take something off the table and pay yourself, leave some to give a chance to run.

Trade the action that is in front of you and don't try and fight the trend (intraday or otherwise) .

Yields given up 3/4 of their move today. Leaves some room for continued bounce in the markets. VIX still down >4% At some point, people are going to start looking past the bad news and want to participate and get positioned. Today's fomo move proved that in spades.

This sets up a bounce. Got everyone short on CPI, trade moves against them, covers start happening, then all indicies go green, people fomo back into longs thinking they "missed the bottom". VIX down 4.5% and yields retreating (very slightly). All on the back of a very technically oversold...

SPY green on the day.

This is my take on my TQQQ $15 (21OCT exp) that Sanrith called out. I am not at all opposed to owning TQQQ at that price (minus premium collected). I have collected premium twice on this trade. Took 60% profits off the table on the last bounce. Re-entered recently back near original trade entry.

Pay attention. Even with this down move, VIX is still negative on the day. (-1.5% as of writing)

Not to mention simple upgrade cycles. So much covid bucks handed out, work from home, and a few other factors of the PC demand of the last 2 years. So take all of those who have upgraded recently. How many are actually clamoring to go right back out and buy ground-up PC builds again? The usual...

Hot PPI again 08:30 *(US) SEPT PPI FINAL DEMAND M/M: 0.4% V 0.2%E; Y/Y: 8.5% V 8.4%E

Economic slowdown may be one reason, making sub-par and expensive processors is the more relevant reason. AMD have really been showing Intel up for a while now. Like the good old 2000s era, Intel finally has some competition and are caught sandbagging innovation and AMD are reaping the rewards...

We're still in a bad news is good news / good news is bad news market. Headline hit: 11:01 (US) NY Fed Survey of Consumer Expectations: Household spending decline in Sept is largest in series history While poor for earnings / profits, the argument can be made that the Fed's tightening is...

UBER LYFT etc down on: 08:47(US) Dept of Labor releases proposal to force companies to reclassify independent contractors as employees

Market bouncing with volume on: 13:46 (RU) Russia Foreign Ministry Spokesperson: Russia is open for diplomacy - Source TradeTheNews.com Why anyone trusts Russia at this point is beyond me.

That is the big question that every analyst and talking head is pouring over right now. "Expected" earnings... Q4 foward guides are going to make or break those expectations. Semis are a bloodbath because AMD cut theirs. You had FDX warning weeks ago as the canary in the coal mine. What is...

All the MJ names on the move following: 15:01 (US) Biden Admin to ask officials to review how marijuana is scheduled under federal law and urging state governors to do the same - Biden to take executive action to end the current US approach to marijuana and directs US Attorney General to...

Dont worry, we've sold off the entire index pop following the news.

More transcript: - Does not see a hump shape in rates; I see us raising rates and holding them there until we get inflation close to 2% - Sees more rate hikes as necessary; Does not see rate cut in 2023 - Expects inflation to end 2023 closer to 3% than 2%; We have to be prepared for inflation...

TWTR just spiked and halted. TSLA dumping. 12:05 [TWTR] CEO Musk reportedly proposes in letter to Twitter to proceed with deal at $54.20 - press

Key word there being “briefly”. If that is the measure, then pretty much every car that has the windows rolled up is “briefly” a boat!

The more frequent we keep testing these lower levels, the more likely the break. Could also easily just flash lower and get bought back up (overshoot). This scenario to break and reclaim would be a decent buy signal for me. disclaimer: I’m typing this on a beach in Croatia, so detached from the...

Fwiw, I have a script on eSignal to overlay the daily 20ema and 50, 100, 200 sma’s on any timeframe chart. This way I can trade off my 5min, 1min, or 24sec timeframe charts depending on what setups I’m trading and they’re always in clear view. I’m sure there’s equivalents out there for ToS etc...

Wife and I never envisioned buying a house here in the UK, but it seems foolish not to when the currency discount is about 40-60% off historic averages. (I’m American / Brit wife). We’re seriously considering moving some cash over for a future purchase. Move cash over now, then BOE has to hike...

This wont help: 08:39 $AAPL - Foxconn removes iPhone 14 production lines as sales fall short of expectations -Asian Tech Press (sm)

Bond yields coming in a bit here. If this continues, markets can reverse. (Something to keep on radar) Also, Crude coming to the lowest levels since pre-invasion. (Clearly recession pricing happening, but a huge relief off of some inflationary measures)

Being a Friday? It is possible. A lot is going to depend on how we open and price action. That said, we have come a long way quickly. (That rubber band to the 20D I am always going on about)

The fuck? You do realize Trump nominated Jerome “money printer / inflation is only transitory” Powell, right? Fed is currently trying to unfuck their own policy fuck ups from the Covid response / late to the QT cycle. Fed is an independent body. Blaming anyone other than Powell himself and...

I assume you are talking about an EMA, not an SMA?

Nice find. I am in.

Tesla falling through all support today (20D and 200D). Weaker relative to an already weak market.

Powell speech notes: 14:30 (US) Fed Chair Powell: We are strongly committed to bringing inflation to 2% goal; Ongoing hikes will be appropriate - post rate decision statement - Surveys of inflation expectations have improved but that's no grounds for complacency on inflation - Fed is aware...

Fuckin Cramer does it again.

I think June lows by end of week is a huge ask. That is another ~20 points down on SPY. I think 370-373 is more realistic. (The last turn in July before we went higher) Also with you in that making bold bets here is perilous. There will be some digestion of Fed overnight.

That "noise" is a hell of a lot of volume.

Powell just flat out said we need a housing correction. Big red candles immediately after.

They ripped back up when he mentioned they will pause at some point, while acknowledging some inflation metrics are lagging indicators.