roll of american dollar banknotes tightened with band

US debt limit increase

Last night Reuters had another update on the TOPIC. I want to stress its relevance because the market had to change its tone from being quite pessimistic to overly optimistic pushing the Nasdaq and SP500 much higher than what my models were anticipating. Stocks prices are moving on certain news and the article below talks

Bears in control – Today – We will see Asia overnight

AFacebook Inc FB.O, down 3.92%, was the biggest drag on the S&P 500 and Nasdaq, after the company warned that Apple Inc’s AAPL.O new privacy changes would weigh on its digital business. Shares of the social media company closed below its 200-day moving average for the first time since March 8, a technical support level
  • Published in SPX

Closing shorts – SPX Update

Short-term shorts were closed today by computers and I lowered the hedges for some of my key models. I am not sure if the weakness will remain tomorrow but this week’s low can act as psychological support for me. I have spent a long time looking at this picture today. For some reason, the PE
  • Published in SPX

KEY EFTs are forcing me to stop the shorts

Here is a good chart to explain why the SPX is not trading lower. I was short but today I got long https://twitter.com/user/status/1441079413165080586
  • Published in SPX

SPX Update

The changes that I was noticing on the price action were confirmed during the last few days. The SPY has been making lower lows for the last 6 trading days. However, the drop has been less than 4% which is not enough to say that the bulls are suffering nor that the bears are happy.
  • Published in SPX

Price Confirmation – Bulls were not as strong

Today price action confirmed the message I sent yesterday. You can review the chart with key ETFs on Twitter