Higher

#Market #SPXcampaign This recent click higher and corresponding dip in the VIX signals to me this market is going up. Still not close to confirmation on the VIXIndicator but I’m going to start reversing some positions in SPX.

Boom

#Market One thing about corrections is they can also include face-ripping rallies. This is a huge gap up… the market did what it does best on Friday… shook me out of put spreads which would be doing excellently today had I not ditched them. VIX not dropping too sharply yet, but I’ll be watching what it does during market hours. I have a couple of call spreads in trouble… not sure yet if I should forward roll or reverse roll.

#1, #augen

We’re in the upside down

#Market #SPXcampaign For the last few months we have seen unending rallies, defying gravity. Many mornings we would open with a nice little pullback, getting enough traders worried the happy days were ending so they would sell, then the market turns around and notches another all-time high.

This morning’s “rally” was the reverse of that… Gap-down open, only to perk into positive territory, head faking enough to cover their shorts before we rip down to new lows.

It’s the upside down of last month.

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SPX wavering

#Market Intraday we just made a lower high and a lower low. The groundhog sees more volatility ahead.

Upside Warning in effect

#VIXIndicator #Market An Upside Warning went into effect, meaning the risk is to upside: higher prices on the indices. I was hoping for some relaxation or minor pullback to start us off, but we are over 8 points higher again on $SPX. No use fighting it.

Jobs report in 20 minutes.

VIX lows

#VIXIndicator #Market

The VIX is trading under 9.00 for the sixth time ever.

#Market $SPX down 10.82 and…

#Market
$SPX down 10.82 and $UVXY just doesn’t care