Page menu

Tuesday, June 16, 2026

Best Trade of The Year, plus Iran Looking Like More of the SOS

SpaceX was up another +18% on Monday and continues to rally straight into the target I called Friday morning — ahead of the IPO. I picked that target based on a number of factors that have absolutely nothing to do with valuation and everything to do with investors and algos (alike) being drawn to key psychological targets (and highly disciplined, programmed momentum algos driving momentum... (topic for another day).     

$DJUSAS Aerospace Target Was Taken Out As well 

tweet screenshot


Yesterday's Big Headline was the announcement of an Iran "Deal" (over the weekend). But read the fine print and it’s the same recycled hope we’ve been pricing in since April. Yep, More of the Same Old Shit. 

What really sent market's rocketing higher on Monday? Some say it's, "window dressing", as we near the end of the second quarter, and that fits the cyclical pattern. Everything that rallied in the 2nd quarter rallied back to retest the recent highs in yesterday's session - AI (+3%), Small Caps, and Mag7 stocks (now flying under a new banner "hyperscalers) $NDX (+3%)  Read: HYPERSCALERS HUSTLE: The definitive CRASH COURSE 

Semiconductors were up +5.67% (led by Asia as usual) - including new highs in $AMD. Top performers on the $SPX: Western Digital, Micron, Seagate, $ON Semiconductor → all the usual suspects. $NDX Nasdaq 100 leaders included $ARM, $LAM, Microchip Technology ($MCHP) and finally Cramer/ Jensen Huang fav. Marvell, of course.  

Of course I saw this snapback rally in semis coming from several thousand miles away - last week. 

Upside Gap Fill Target Alerted to 11 hrs. Ago 

  Speaking of South Korea: 

Best Trade of The Year 3X South Korea Bull $KORU +600% (6X) 

Up 4000% over the past 14 months. Reminder: I wrote the book on "Max Gains" (compound gains) in leveraged ETF's, over decade ago [link] and today you see them running my playbook. If you think you know where the next momentum trade can be found, let me know. 



Back to Highly Bifurcated US Markets     

Bullish Names Flying Under Most Investor's Radar (covered on May 19th), $CAT, CMI, $TT (Train), Corning (+5%) all higher - all datacenter plays. 

NOT, the relief rally I expected.   

What didn't rally on the news that the war is over? - US Treasuries (barely up). Crickets from the msm on that front. I've sidelined the entire 401k, because when all I see the msm reporting is bs, I get nervous wondering what the real story is.   

US Treasuries — the market that actually prices real risk — said we aren't buying this story. 

Of course oil sold off to 3 month lows, but whether that can continue, remains to be seen.  

I'm looking at yesterday as just more of the SOS being mostly driven in Asia (no wonder China a is cracking down on off shore trading), and just another excuse to squeeze some more juice out of AI trade. 

Take Care,

AA 

P.S. Still believe AI is the next Industrial Revolution? Read: AI: The Marketing Genius Wall Street Swallowed Whole

    


Posted by at No comments:

Monday, June 15, 2026

Space Junk, Dead Airlines, and America's Lost Decade

$SPCX closed its first trading day right where it opened — around $160. The 1-minute chart shows a downturned megaphone. Classic consolidation. Watch for a pop Monday morning — new all-time highs, or a head-fake? You already know what I think. ðŸ‘‡     

$DJUSAS Dow Jones Aerospace actually closed lower (-61%) after touching a slightly higher intra-day high. I still think it can go higher. [Link to Friday's chart] 

$DFEN Direxion Daily 3X Leveraged Aerospace & Defense Bull - if the Iran deal falls through, watch for defense names to help lift this one into the stratosphere! Probability seems high; given Trump's record. You may want to set stops when trading leveraged ETF, and review my warnings & guidelines "Word to the Wise: Leveraged ETFs Are Not for the Casual Investor". 

$RKLB Rocket Lab - 1 of the 4 space stocks  - being added to the Nasdaq -  in the article I headlined on Friday [link] pulls back to the 50 day SMA. New highs in the cards. 

Space: The Final Frontier... or Flavor of the Month?

Let's be honest. Space is just the latest in a long line of heavily pumped — and eventually dumped — narratives Wall Street uses to separate retail from their money. We've seen this movie before, cast of characters highlighted in the latest blog (in the P.S. section) — starting with China. 

Dumpster Fire Roll Call Starring 

$ASTS AST SpaceMobile - Starlink competitor, pumped and dumped, right on schedule! Heavy selling volume hit on SpaceX IPO day. Funny how that works.

Chart

After lighting the match on $SMCI Super Micro Friday, I found more candidates to add to the pile. 

The list of stocks making lower lows keeps growing. Is it any wonder the broader market can't hold onto real gains?

Priced In Since April. Now What?

Airlines (another dead sector) are higher on this morning's news, but this is part of the same pricing-in we've seen over the past 2 months. How many times can Wall Street price in the same deal? I'm afraid investors in airline stocks are about to find out the hard way!  

The $NYSE - Same Range Since February   

$NYSE looks poised to finally make a new closing high — its 7th retest in two months. Unimpressive, when you realize it can only pierce a new high on the 47th Iran FOMO news report. 

The pattern mirrors the upturned triangle I flagged on the Dow Aerospace chart. Until the breakout is confirmed — sell the rips.

America's Lost Decade In Full View   

This is what a bear market looks like when nobody's allowed to call it one.

$NYHL — NYSE new all-time highs vs. new all-time lows. Dismal. Market breadth continues to wither. Only a handful of sub-sectors and a handful of stocks can stage short-lived rallies — and only during earnings season. Traders have already figured it out. They've pivoted to South Korea, India, and Europe — all still outperforming US markets.


The Fed's hands are tied. Goldman raised their year-end $SPX target to 6000 on May 20th. Right on cue.

Trump's Iran deal feels rushed — conveniently timed for the G7 and Kevin Warsh's debut at the Federal Reserve. Short covering into the 4th of July could prop things up. Or the market gets dumped squarely in Warsh's lap on day one.

Either Way - Risk Off 

P.S. For context on the lousy relative (broader market) gains — Looking at The $SPY Forest Through The AI Trees — nearly a month ago, and still relevant.


Posted by at No comments:

Friday, June 12, 2026

SpaceX Aerospace Pop, Software, Semis Drop - Rinse & Repeat

Rocket Lab and these four stocks are joining the Nasdaq 100, with SpaceX waiting in the wings (marketwatch) 

 Today is the big day: SpaceX is ready for take off, and the enthusiasm is already carrying over into the aerospace category.

Pump, dump, rinse, repeat. That's been the whole story for the past few years, and the word on the street is today's SpaceX's IPO looks like another coat of paint on the same megillah. In a word: Overpriced

Last time I covered Aerospace I was telling folks to ring the register. "Aerospace Trade Finally Pays.. [Link]" Today the chart is still trying to break out again, and I think we can see a little throw-over out of the triangle pattern it's trading in — but watch it like a hawk, because we could see a reversal once price throws over the top (depending on which type of triangle this is). See the annotations — new highs followed by a reversal, don't say I didn't warn you. New highs are catnip to the algos.    

$DJUSAS (Dow Jones Aerospace) - The chart is conflicted: I can't say with any certainty, whether it's a bearish upturned wedge, or bullish continuation pattern?  SpaceX - Aerospace Breakout or Fake Out? I think the latter.      

Should you chase it? I think SpaceX pops above $200... go for it, but too much sugar may be setting up for a Monday morning hangover. Watch for updates @3xtraders: I'll be charting it live on a 1 min. chart.

Combine SpaceX with the momentum carrying over in the US and Europe after yesterday's Trump statement — a short-covering rally on news that Iran and the US are ready to sign a deal, perhaps at the G7 next week. True or not.

Trump's latest flip-flop was enough to drive the Nasdaq +2.5% and crude back below $90. What that actually does is give Trump more time to stall. The Iranians are stalling too, and I expect the stalemate to continue indefinitely.

The $COMPQ Nasdaq Composite chart speaks volumes. 


 Go back and look at the chart: Trump's pivot from warmonger to peacenik came precisely at the 50 day SMA. Remember that bear trap I warned you about?  

What else is fueling the rally besides short covering? Cash. The cash raises pulling the rug on the semiconductor space. Mike Wilson (Morgan Stanley) basically just said the quiet part out loud. Watch the videoclip for yourself:

I was under the impression money managers were raising cash ahead of the 3 biggest IPOs to ever hit the tape — and they are — but there's something else going on here:

  1. In hindsight, they drove Semis, including the entire South Korean market, into a parabolic flash surge to do a cash raise. Earnings were the fuel, but the moves were accentuated. We've covered this many times — now you're watching the trash get taken to the curb.
  2. AI led the charge too, alongside Software. Same narrative, same basket, same exit — when AI stocks got bid as "the future," software rode shotgun on the same story, and now they're getting dumped together.

I saw CNBC finally mention the 8-day losing streak over yesterday's lunch hour, but otherwise the MSM seems asleep at the switch. Software-mageddon continues for 8 days straight.

The Poster Child For The Latest White Knuckle Moment For AI $SMCI Super Micro ▼

Taking Out The AI Trash

What this all tells me is that AI is just another sector in the rotation. Pump, dump, rinse, and repeat. The never ending list of stocks that don't perform just keeps growing. Now space IPOs? I'll have to sleep on that.  

P.S. I recently covered the entire rotation starting with China (when we were told China was being driven like a meme trade, because they were leading the manufacturing recovery after covid.
And guess who upgraded China near the top? Morgan. 
Posted by at No comments:

Tuesday, June 9, 2026

While They're Setting Another Bear Trap — Here's the Bullish Rotation They Don't Want You to See

I don't normally lead with the MSM — but when CNBC and Bloomberg Surveillance are reading from the exact same script, word for word, you have to ask: who's actually feeding the teleprompters? It's summer. Time to roast some weenies.
Savita Subramanian (frequent CNBC guest)

This isn't the first time we've seen Jim Cramer and the Big Banks join arms in an attempt to cut a rally short. Less than two months ago [link], Goldman and Cramer simultaneously sounded the warning on semiconductor stocks — ahead of a monster rally that drove $SOX clear into June, well above where they told people to ring the bell. How many people lost Mad Money money on that call?

Right now Jim Cramer and Bank of America's   Savita Subramanian (a frequent guest on CNBC)   both, simultaneously, are sounding the warning to "take profits". My question is:

In yet another tweet, Cramer warns that "key pillars of the bull market are beginning to crumble" — the very same day they sell the news on Mag7 stock Apple. My take:

The term "pillars," of course, refers to the short list of market movers they just pumped and dumped.  Apple (sold on yesterday's news). Broadcom $AVGO — another Cramer favorite with a direct connection to Apple. No coincidence. 

Breaking: Bloomberg Surveillance just read their opener from the same piece of paper — even name-dropping BofA's very own Savita Subramanian. You can't make this shit up.

Time to Flip the Script

Assume for a minute that another bear trap is being laid, right on schedule, ahead of another summer break. This is prime time for manipulation — and the next FOMC announcement is right around the corner. Kevin Warsh raising rates? The MSM seems to think so. I give that zero chance. I've already put my money where my mouth is, buying up Treasuries. 

If you like that angle, you're going to like what's next even more.

Laying Out the Next Real Sector Rotation

While Cramer was busy pointing at semiconductors, one sector has been quietly consolidating for nearly nine months — flying completely under the radar. That sector is Communication Services 

Enter $XLC (State Street Communication Services Select Sector SPDR ETF). The chart speaks for itself. #1 Holding $META. #2 & #3 Holdings Google/Alphabet. You should be seeing a pattern: a rotation out of $AAPL, into one or more of the other Mag7 market drivers. Pro-tips: Sideways patterns like this are notorious for plenty of head-fakes, so don't bet the farm all at once. If it drops to 107 add. I'm not going to babysit this position; you're on your own. 

While the teleprompter producers were writing the next script, I was scoping out $META - quietly consolidating in a range.     

I'll let you chart the rest of the top holdings yourself [yahoo finance link]

#4 holding: $TTWO Take Two - number 4 holding. Clear buy signal. 
 


Same time of year, same script, same bear bait, all the usual suspects - will it be different this time? Spoiler, NO. The only thing that changes is the sector/stocks they're trying to shake you out of. 

 Last Fall they all claimed that the AI bubble was busting. The time before they claimed that Trump tariffs were going to cause a recession. This time... "take profits"?

 Laughable.

P.S. MSM believability just hit a historic low (8%). This is what that looks like in real time — CNBC reported that Trump got booed at the Knicks game. No doubt the talking heads would've loved a seat in that section. Or maybe they're just living vicariously through the 30% of loud mouthed New Yorkers doing the booing. 

Posted by at No comments:

Monday, June 8, 2026

History Rhymes: Who Pulled the $USD/$YEN Again?

First read Sundays wrap-up: Friday's Bloodbath Reads Like a Crime Scene [link] More Clues Still Being Uncovered:

The most obvious one I forgot to mention on Sunday:  while retail was getting their pockets picked on Friday, the powers that be were preparing a big surprise for the short sellers. 

CNBC Jim Cramer/ Jensen Huang fav Marvel $MRVL is being added to the $SPX. Reported immediately after Friday's close (many sources). You can't make this shit up.    

 BREAKING: 

2 Millionaire-Maker AI Stocks to Hold for the Next Decade (spoiler Marvel is one of them 😂) (motley fool.com)

The Currency Market Upset You May Have Missed - We've Seen This Movie Before 

  • $USD/$JPY driven into a breakout
  • YEN Carry Trade ghosts spook markets
  • USD/JPY breaking 160  is the tripwire, because that's the level that triggered BOJ intervention in 2024. Algos know that. 

Was this a perfectly timed currency reset; with the next FOMC announcement right around the corner? Sounds conspiratorial. You decide! 

Even GROK/AI sees the pattern — if you know how to ask.

When prompted correctly, Grok confirmed what seasoned FX veterans already know: a sudden USD/JPY spike is one of the cleanest ways to simultaneously spook equities and hammer Treasuries. No news required. Algos do the rest — amplifying the move, triggering stops, draining liquidity. 
The yen carry trade gets margin-called on volatility alone. Same movie, different Friday 
Retail never sees the setup. They just feel the fear. 

Oil Sells off with Bond Markets 

This is highly unusual, because higher oil equates to more inflation, and higher interest rates. My take is that the hedge funds wanted to shake retail out of the energy space, before running it up into the next rotation. 

This morning we're seeing Marvell $MRVL up over 7% in pre-market, and $SOXL up 10%. $NDX Nasdaq 100 up 1.4% Not a bad morning, if I do say so, myself! 

$SOXL Yahoo Financial Pre-market Screenshot

   




Posted by at No comments:

Sunday, June 7, 2026

Friday's Bloodbath Reads Like a Crime Scene

Friday's bloodbath in tech stocks was a textbook setup, but the tape reads a bit like a Hitchcock novel. 

This was the biggest one day rout that we've seen since April, but what made Friday's move truly historic was the highest ever options volume in history. I always say,"it's all about the options", and the proof is in the pudding. Friday rug pull on a 10 week win streak, was actually triggered by a correction in the options market. . 

  • 1st clue was the Broadcom setup I alerted to just ahead of earnings, and confirmed in Friday's blog, ahead of the opening bell. [link] 
  • The second clue was the breakout on the $VIX. One of the most obvious setups ever. 

I not only alerted to the $VIX breakout. I confirmed it (on Wed.) 

Who else spotted the $VIX breaking out? None other than my old friend Dale Pinkert, over at Forex Analytix

You can tell by the number of likes on that tweet that there's a decent amount of short interest, and that sets the bear trap ahead of another 4th of July pump job (typical). That's right, they aren't finished juicing the market, just yet. Not by a long shot! The show ain't over until the fat lady sings. 

The final breakout on the $VIX was above the 18 level, and that becomes the level to watch - not 20. Another critical level is the 50 day - where we saw the $VIX briefly pause on Friday, before the bears spiked the ball - going into the close. 

$VIX alert triggered

Now Here's Where Things Get Really Strange 

Some of the hardest hit sectors were some of the worst sectors and stocks in the index- what I call junk/trash (crypto, miners, speculative AI tech, Strategy $MSTR?).  

Crypto (not even considered a sector. Gold miners, a part of the materials space (not a true sector). Solar. The Semis (another micro-sector) got whacked, of course. That was no surprise, because tech is the only game in town, and semis lead tech. Tech sold off hard, and the Dow didn't offer safe harbor this time. Small caps? (risk off, sure). 

I always say if you want to make the sell-off convincing you gotta sell Apple, and Google/ Alphabet (still trading above the 50 day SMA), and Berkshire, not pick and choose - selling Tesla because you don't like Elon's attitude. The other one they hate, $META was lower. Meta management took advantage of the situation by dropping some bad news on the tape, thinking nobody would notice their stock down another 5%, with all the blood in the streets? 

Watching CNBC try to do damage control after the closing bell was peak comedy. Tim Seymour (producer), and eternal pumper of everything from pot stocks, to gold miners, to China - have you seen Tencent lately? 😂🤣 

Tim Seymour pick $TME Tencent

Spin included assurances that the economy is still broadening (blatant lie), and consumer staples (toilet paper, toothpaste), was up... and "that must be good, right"? I'm not making any of this up. 

What wasn't covered on Fast Money?  

1. $VIX +20 (the elephant in the room). 

2. Tim Seymour pot stocks popped +7%.  2X weed ETF $MSOX (MSOS) ended the session up +14.49%. Conspicuous as hell dead silence. 

3. $OIH Oil service stocks - (recommended by Seymour several times in May) down another (-5.5%).   

4. Fast money favorite, gold (& copper) miners have given back all the gains of the year. Crickets   



Makes you think the show is all smoke and mirrors right? Case solved!  

I think we could see a little more fallout on Monday. Buying a 1 day pullback used to be a rookie mistake, but today it's the new normal. EVERYBODY PILE IN!   

Seriously: I was lucky enough to see Friday's bond rout coming, as well as the $VIX breakout, and the rest of it, but trading it is never easy. In fact today's market environment is harder than it's ever been.

Same sector - only sector - that can lead is the same sector that's led the entire bull market. Big Tech - disguised as something new AI. #BuyTheDip   

$BOTZ Global X Robotics & Artificial Intelligence Thematic ETF  - Bullish af 


P.S. Edit Monday 6/8/2026: 




Posted by at No comments:

Friday, June 5, 2026

Hairline Cracks Continue to Form in the Hyperscaler Facade

Add Broadcom to the list of hyperscalers, that highlight the hairline cracks forming in the AI facade. $AMZN, $NVDA, $GOOGL, and now Broadcom $AVGO - down -14% dragging S. Korea down with it. Is this a bearish reversal? Not likely - not in June. Investors don't, "sell May, and go away", and they sure as hell don't sell in June either - especially when IPO fever is being hyped. 

The bubble continues to grow. All we're seeing is the same rotation we've seen over the past few years. This is in part what I coined as the New Market - not long after Covid was used as an excuse to juice the global economy - GDP = Valuations. Crisis driven economics. War economy 2.0. 

Tech sells off? No problem, because today we're going to drive big energy ($EOM), or the big banks ($GS) higher, for no particular reason (just go back and look at Thursday's action, and then watch Fast Money hosts try to cover it with a straight face) 😂.  

Last time I covered Broadcom it was back in Sept. '25, around the time where it peaked out.

A quick refresher directly from that blog [linked]: Comparing $AVGO to NVIDIA: Reads like today's headlines.   

"The stakes are arguably just as high for fellow chip giant, Broadcom (AVGO +9.18%). Broadcom has become such a massive company that it has surpassed Tesla in market cap -- paving the way for a new group of market-leading growth stocks known as the "Ten Titans."

CNBC Fast Money's, fast talkin', Tim Seymour was seen calling this development "Fantastic, and exciting!" Why? Because Wall Street has been looking for new leadership in the AI space, and they believe they've found (engineered) it. That's right, Wall Street insiders have been planning this for some time." [link] : 

As Far as the Broadcom Chart Technicals

I alerted to several likely/ possible outcomes on this earnings report on Wed., saying "the chart is sketchy" - while at the same time, offering some FREE options strategy, and if you sold calls don't forget to pay the lady at the door.

What else is still seen trading near the top of a range? The broader market. That's right, when the social media trolls all chime in with the cable news talking heads, trying to tell you that the market just came off a 9 day win streak? NEWSFLASH: There was no bearish capitulation either in Bonds, or Equities. What they're actually reporting is fluff - designed to soothe investors as trillion dollar IPOs come into focus.

$NYA New York Stock Exchange - Still trading in a range. Not winning any trophies.

$NYSE DCS Chart

The Truth is the $SPX rallied over the Memorial Day holiday, but as soon as the adults returned to their trading desk, the low volume, retail FOMO party, came to an abrupt end. In fact if you look at the $SPY there was no win streak.

$SPY DCS Chart not winning any performance trophies 

Giving the talking heads the benefit of the doubt, perhaps they got bored (over Memorial Day/week) reporting on stalled Iran talks, and Trump's ballroom renovations. 🤣

Trading The Bubble Living The Dream 

I've always secretly wished that I could trade into a bubble similar to what we saw in 2000 and this one surpassed anything I could have imagined. But this market environment is growing more treacherous with every day, and now perpetual futures helping to drive trillion dollar valuations... 

Pro Tips: Trade the bubble you have. Chase the rotations. Buy the dips, sell the rips, rinse and repeat. And when the music stops — try not to be one of those helpful souls rearranging deck chairs on the Titanic.      
Posted by at No comments:

Tuesday, June 2, 2026

When Pigs Fly: How the Trillion Dollar Club Became a Value Trap for Investors

Jensen Huang: "Trust me bro" image (screen capture) from an unreputable source (WSJ)


























The Trillion Dollar Club Isn't Exclusive Anymore - In fact the list of companies reaching a $1 trillion valuation is growing exponentially. Just this morning, I heard that Jim Cramer's friend, Jensen Huang (not a stock picker/ CEO of NVIDIA 😂) said (wait for it) "Marvell should/could/may/might be the next Trillion Dollar Company", (many sources) and the stock is already up another 20% in pre-market. This kind of sentiment scares me, and this is a club nobody should want to be a part of.  

© 2026 Veteran Market Timer / 3Xtraders.com — Created with help from Grok (xAI

Next in Line for the Crown JP Morgan $JPM - of Course 
Watch for $JPM to break the $1t ceiling before year end (Chart reserved for members).

They Booted Walmart (from the $Trillion Pig Trap), when they determined that the recovery was K shaped, yet the fact that it made the grade (chosen) helps explain why Walmart was driven to such a sky-high valuation in the first place. Also explains why 1 trillion dollar market caps is so conspicuously telegraphed by the live cable news networks. These are the obvious whisper number targets... I should've realized this was a trend, way back when Microsoft hit the $1t number. Today Microsoft trades at a 3t market cap. Stocks being purposely driven to sky-high valuations? uh...yeah

How'd we get here? When the geniuses in Washington DC decided that the best way to deal with a flu pandemic was to print $9T dollars, that money was immediately put to work in where else? - BIG TECH. 

All the names on the list were already well capitalized, so when the Fed finally let its foot off the gas, momentum continued to carry it. Apple,  Google, Amazon, they don't care about money orienting to cure the flu, and they don't need to borrow.... Today there's a massive ecosystem of strategic partnerships fueling a massive multi-billion-dollar investments in which multi-billion-dollar investments where major tech companies, hardware manufacturers, and model developers fund each other. The feedback loop fuels the bubble 

  • Nvidia & OpenAI: Nvidia—the leading supplier of AI chips—is heavily invested in AI model developers.
  • AMD, Meta & OpenAI: Hardware competitor AMD struck a landmark deal valued at over $100 billion,with Meta, where Meta will buy 6 gigawatts of AI computing power from AMD. In return, Meta receives stock warrants for up to 10% of AMD’s equity.
  • Amazon, Google & Anthropic: Alphabet (Google) and Amazon both made massive multi-billion-dollar investments into OpenAI rival Anthropic. In exchange, Anthropic committed to using Amazon Web Services (AWS) for AI training and Google's custom chips and cloud infrastructure.
  • Nvidia & CoreWeave: Nvidia has heavily invested in private and public companies within its supply chain and customer network, including pumping billions into AI data center provider CoreWeave. 

I remember - not so long ago when Microsoft hit a $1 trillion market cap on April 25, 2019. It was the third U.S. company to do so (after Apple in 2018 and Amazon shortly after). Fueled by earnings; It closed the day a bit below but crossed it again later.

The 3rd Winning Pig in the series was immediately hyped by - you got it - CNBC [link to article] 

Microsoft hits $1 trillion market cap for the first time as stock jumps on earnings beat

The AI related rotation continues: The screen-shot below shows which names drove markets higher into last weeks close. Today, $HPE, & $MRVL... ( Somebody is making out like a bandit, on this rotation schedule, and it ain't me, I can assure you.
All The Usual Suspects 

Sentiment Indicators Pinned in the Red: 

This is the most extreme bullish sentiment - as expressed by the CBOE options Total Put/Call Ratio (the $CPC) that we've seen since 2021.   


The $VXX & $VIXY ($VIX short term futures) have also traded to new record lows. The market is either pricing in a very dull summer, or investors are ridiculously complacent. Another glaring example of $VIX indices (supposed to be risk indicators) being heavily shorted as usual.  

Read: Technically They Can't Short the VIX. Here's How They Do It Anyway

A Deep Dive into the Most Manipulated Indicator on Wall Street — and the Proof Is Right There in the Charts [link] 


Next up: More cracks forming in the Mag7 floor. Stay tuned.

Take care,
AA



Posted by at No comments:
Subscribe to: Posts (Atom)