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Friday, February 17, 2023

Market Update 2/17/23 - Friday, Feb. 17th, 2023 - OPEX (Options Expiration)

 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.

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 

...but, I actually see less risk of a Volamageddon 2.0, now that the warning has been put out. 

SPX 15 min. view 

Yet, the action basically remains in a sideways range 

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. 

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!  

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.... 

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 

$FTSE - Here's another chart, that got some attention, yesterday  

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! 



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