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Well... big miss on that CPI data... Look out below.

https://www.wsj.com/articles/fidelity-weighs-bitcoin-trading-on-brokerage-platform-11663008698?page=1

AAPL doing a lot of heavy lifting on the indexes today. +4.2%

Markets have been openly pricing in a 75bp move. That would shock absolutely no one.

For reference, we are basically back to pre-Ukraine invasion prices. This should also have a noticeable influence on CPI / PPI readings.

T+2 business days. If you sent Fri and Mon was a holiday, you’re likely cleared overnight tonight

Another false break and reclaim of the SPY 390 level. (This is why technical analysis pays). I had been talking about strength using this level to buy off of, vs some random buying above this. Not to say we can't ultimately fail this, but the continued strength holding up here is a good thing.

ISM print this morning reports that the Business Activity Index was the strongest reading of the year. Volume selling hit all indexes on that print. Thinking it is being digested as the Fed needs to be more aggressive. Still not doing enough to quash demand / inflation.

Re-added more TQQQ and AMZN at the lows before the close.

15:17 [SIE.DE] Spokesperson: As a manufacturer of Nord Stream 1 turbines, we can only state that such a finding of 'oil leak' does not constitute a technical reason for stopping operations - It is a routine procedure to seal such leaks on site; It is a routine procedure within the scope of...

I think you are talking about the planned halt from Aug 31st-Sept 2nd for maintenance (this isnt the first). It has been speculated for Russia to not resume gas flow as a political bargaining chip. Germany / Europe have been expecting the pipeline cutoff for months and taking measures. Yesterday...

12:22 [GAZP.RU] Transport of gas to the Nord Stream pipeline has been completely halted after oil leakage was detected during routine maintenance works; No timeframe for restart of gas supply through the pipeline - Gazprom statement - During routine maintenance works oil leakage was detected...

My take was, SPY 401.50 is a solid pivot. Would have been surprised to break through that today. Once it failed that, would have been pulling back anyway, but market was blindsided by the news of Russia's gas pipepline being kept offline. It was off for maintenance and was told yesterday it...

This is a pretty hefty pull back. 5 solid days of red and a 41 point SPY drop from the 200D rejection. Not at all saying this is a bottom, but when we move so much so quickly, we are bound to get a relief bounce and this SPY 390 is a fairly significant level. More than worth the punt and...

Shopping list today was SPY 390.5 (for IRA), AMZN 124.20 and TQQQ 26.30 for swing account.

10:47 (US) Market Trading Hours Summary: Ominous investment landscape confronts markets heading into September Summary: Risk appetite remained suppressed by a host of factors coming into today’s session. Rates continued to rise globally despite signs of economic weakness, while US stocks look...

NVDA nearly hitting SSR level. Impressive.

Got some SPY re-buy orders out there for the ~390 level. (Sold off a good chunk at the 431 level (200DMA:emoji_nose:. Of course leaving plenty of firepower for adds lower. Wouldn't be surprised at all to get some revisions down ahead of earnings as recession risk starts setting in.

Keep in mind, this is a new ADP calculation method. (Don't like the numbers? Change the way its calculated!) Haven't bothered reading the detail of changes. Just FYI.

SNAP laying off 20% of its workforce. Recession bells are ringing.

Europe is getting annihilated in energy costs. Over-reliance on Russian supplied gas supply into Germany. UK is raising residential price caps on household energy (set to double by Jan). UK businesses arent protected by energy price caps, so they are facing monster energy bills too and its all...

Memes are dead again. AMC down 32% premarket

That is one hell of an after hours dump on BBBY

14:00 *(US) FOMC JULY MEETING MINUTES: OFFICIALS SAW ONGOING RATE HIKES AS APPROPRIATE; SAW RISK IF PUBLIC QUESTIONS FED'S INFLATION RESOLVE - Moving to restrictive stance is required - Participants 'concurred' future rate hikes would depend on incoming information, judged that 'at some point'...

Reminder that FOMC minutes from last meeting come at 2pm. Likely to see some chop today until then.

Nice homerun trade. 60%+ Really only need one of these a month.

"Analysts" :rolleyes:

Likely interest rate increases put the loan affordability out of reach.

Up 10% on those puts already. :cool: **edit** ~20% **edit** 30% **edit** 40%

Also took some QQQ 26AUG 328P position as SPY tapped the 200D.

Just lightened my positions by a fair bit. We are so very well extended in a very short period of time. Expecting a pullback of some sort in the coming days/weeks. Look at your charts and keep an eye how far away the SPY / QQQ gets extended (either direction) from the 20D EMA. Whenever we get...

SPY just tested the 200D SMA.

08:16 Redfin report: ~63K US home-purchase agreements fell through in July (16.1% of homes that went under contract that month, highest rate in more than two years) - Represents the highest percentage on record with the exception of March and April 2020, when the onset of the coronavirus...

10 Aug 16:10 [MTTR] Reports Q2 -$0.12 v -$0.14e, Rev $28.5M v $29.4Me - Guides Q3 -$0.13 to -$0.15 v -$0.13e, Rev $35-37M v $33Me - Raises FY22 -$0.46 to -$0.50 v -$0.49e, Rev $132-138M v $126Me (prior: -$0.47 to -$0.52, Rev $125-135M)

The old forum darling MTTR up 22% overnight. (Still only $6.xx)

Just noticed NCLH (Norwegian Cruise Lines) posted worse than expected Q2 and issued Q3 guide below estimates. Occupancy in the 80% range. So much for all of that "pent-up demand" and "unprecedented bookings" that the CEO was talking about for the last year. Stock is down more than 10%. **Our...

Sentiment changed a bit recently where any negative news is just looked past with the hopes that peak inflation is behind us and the Fed becomes more accommodative. The CPI print will mean a lot on that sentiment tomorrow, however there are still quite a few external factors to get beyond...

My honest guess is chop day while waiting for CPI print tomorrow.

I don’t care what political affiliation any president is, but the accusation of taking classified documents from the WH should have the same result. Who else is going to knock on the door and search? Hillary server was just as ridiculous and should have had further repercussions as well. ps...

Keep an eye on XBI (oversold biotech ETF). Or LABU if youre feeling frisky (3x levered). XBI has shown strength on recent market pullbacks. Markets will eventually remember biotech stocks aren't just about Covid. Definitely seeing some strength and inflows back into the sector.