Looks like there's a high probability that the market bulls are going to be robbed again, as most Options are bound to expire worthless, but that could all change; if the $VIX is once again hammered back down, as we have been seeing on a routine basis, over the past several weeks.
The cartel waits until the final hour of trading to try to shake some weak hands 🙄 $SPX #NASDAQ
— Veteran Market Timer (@3Xtraders) February 16, 2023
I'll be watching $VIX 20, SPX 4100, $NDX 12k (levels), as well as the 50 day moving average on the Dow, going into next week, but today it looks like James Bullard is going to remain short! lol
Seriously, this looks scripted, by the banksters, and helped by the - bought and paid for - financial fake news. This is the new normal.
Volmageddon 2.0
It was kind of amazing to see JP Morgan sound the warning yesterday, after I had already voiced the same concerns (over the options market risk) in yesterday's blog. I even mentioned daily options...
JPMorgan’s Kolanovic Warns of ‘Volmageddon 2.0’ Risk in Options bloomberg
SPX 15 min. view
$SPX continues to sell off pic.twitter.com/54IyhmMtxh
— Veteran Market Timer (@3Xtraders) February 16, 2023
Don't be fooled by $VIX 20 pic.twitter.com/m0uaRc3wVN
— Veteran Market Timer (@3Xtraders) February 16, 2023
Looking at the market action
The more I study this market, the more I see it trading according to moving averages, and in a sideways range, and at some point, that becomes monotonous.
Seems like we've been trading sideways for more than a month, but that's all it's been.
$IYF - Financials, as I tweeted out after yesterday's close.
And last but not least - Financials pull back to support.
— Veteran Market Timer (@3Xtraders) February 16, 2023
Banksters helping banksters pic.twitter.com/NLMyfOoGfb
I got several trades already lined up, whether or not they work, is yet to be seen.
GUSH (3X Oil and Gas producers) continues to trend higher
Note: Gush is probably the riskiest thing I'm throwing out there, but if tech is going to sell-off, then the trend has been to pile into energy.
$IWM ($RUT Russell 2000 ETF) - found this pattern super interesting!
The #Russell2000 retest the highs. Could be a wave "A" triangle. Could be trading in this range all year...! $IWM pic.twitter.com/iHTGi952df
— Veteran Market Timer (@3Xtraders) February 16, 2023
I don't have time to explain what that means; it's up to you to know how to trade chart patterns.
$VIX manipulation continues
$VIX - I usually don't reveal my $VIX charts, but just to show that the trend remains intact....
The cartel didn't drive stocks into Feb. in order to sell OPEX Friday. pic.twitter.com/bZRUIQpYwn
— Veteran Market Timer (@3Xtraders) February 16, 2023
Of course I'll be watching that, at the open!
$VXN - Just look at how they have hammered the NASDAQ 100 $VIX over the past several months
Seeing more #WallStreet fuckery on my screen pic.twitter.com/QIdA66IT6G
— Veteran Market Timer (@3Xtraders) February 16, 2023
$FTSE - Here's another chart, that got some attention, yesterday
$FTSE Trades into the top of the range #Trading #TradingView #Crypto #Stocks #StockCharts pic.twitter.com/PCiFpf2PuU
— Veteran Market Timer (@3Xtraders) February 16, 2023
I have several more sectors I could delve into, and several headlines I'm looking at, but I'm outta time.
Take Care, and have a great weekend!
AA
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