Now a 12 rsi and down 14% just today. Still no interest for me. 

The business leaders will let us know through their actions when things are getting better long term by buying company stock with their own money. Jamie Dimon is my signal. I am watching for things like that, m&a, bankruptcies, higher employment, etc. The money gets made putting everyone back to work. Trading environment until then for me. 

If they happen to run this up into the 4,200s or better, I'll be glad to consider selling them all my 3,000s inventory in long term accounts. 

Like Shakira says, the puts don't lie. I'm on today. 11% on my labd size, now peel some off and ride the rest. Scooped some labu in case they want to rally it some. Risk/reward. Same instruments everyday, just change allocation %

Either a tuck in or bankrupt if markets go to new lows. Who are they really advertising to? Hilarious 

Arkk bleeding over 5%, xbi 2.59%, iwm over 1%, no Bueno for marketo

XBI ARKK and IWM say the markets want lower. Three amigos lead in both directions. They bottom first and they top first.

Closed my US dollar puts into that woosh. Heck of a trade. Took stones, though risk reward was with me. 

WMT, I've been riding since $120, will be selling half here at a 69 RSI near $133 and tightly trailing the rest. Good call by my wife. 

Twitter posts surprise $270 million loss in First Earnings report Since Elon Musk terminated $44 billion takeover deal. 

Stock would be hammered if the lawsuit wasn't pending imo. 

SPX Fantastic S&P500 bull market analog chart. All 3 bull markets since 1998 are overlapped here. The yellow line is the tech boom bust of 1998-2001. The blue line is the housing boom bust of 2005-2008. The white line is our current boom bust from 2019-2022. If the bottom is not in yet then a major low in Oct would be a great opportunity to buy.

Second attachment shows a committed trader set up at Whole Foods   

SPX QQQ To keep some context on what's going on earnings wise, here are some reactions after earnings as of last evening: 

CRSR down 11% SAM down 9% ISRG down 12% TTD down 6% SIVB down 8% STX down 9% SNAP down 26%

Caution is warranted given how overbought things are here and the economic backdrop. Also, the more we rally into the FOMC, the more pressure the Fed will have to be more aggressive. Normally the market would drop into the FOMC to pressure the Fed to be more dovish. I think there "could" be some more gas in the tank once a pullback comes and this settles a bit. I'd like to see how the market reacts after a 100 point SPX runoff and getting below 3,900. That 3,860 or even 3,830 gap look reasonable. 

ISRG hit after their report too, down 13% Intuitive Surgical

XBI Seeing about 2 million dollars today trading in $80 strike puts for August 19th near the ask. I remember that $78 area being a prior major support, so $80 target seems reasonable if a pullback materializes. A 62 RSI here now and came off a high yesterday of 86. Looks to need a rest. For this reason my allocation % is leaning to LABD over LABU on a relative basis. I like LABU for another push up, though I think it needs rest here for a bit as well as the market. 

Agree with anywhere here to the gap 4,017 area is where the pullback will begin. Starting to wonder if they leave the gap open here and start the pullback now because it is expected to be a certainty that it fills now. And maybe it does, but maybe it needs to pullback first before pushing again. Probabilities. Fool the most is how the market playbook has been all year. 

I'd like to thank traders and the plunge protection team for the gains to our long term accounts today. Thank you for your service haha

Boring day trading, just back and forth on LABU/LABD but limited range. No complaints. Off for a 3 day weekend to Alabama tomorrow. 

Looking forward to Steve's newsletter. 

Getting ready to crap imo

Let's see how optimistic things are if we hit 3830 gap

SPX conditions are certainly ripe for a reversion to mean type pullback. The 9/13 ma were at 3,860 or so when I checked charts, congruent with the 3,870 fib highlighted on Matt's one chart. Also a gap below at 3,830 if things really get going and which won't survive long term. Earnings aren't great and job losses are just beginning. I'm weighted more short than long right now in my trading mix. 55/45 and cash otherwise. 

Long term in our other accounts I'd love the rally to continue as I would sell all the 3,000s inventory at 4,220 or better. There can be miracles when you believe the song says lol. Any forward progress is a bonus here over the next year to me. 

If I'm China, I'd be trying something with Biden in office and the U.S. fighting inflation and a shaky economy. Maybe Taiwan situation heats up. In October a guess or sooner. Biden meeting with Xi in 10 days or so.

Was lower risk given the conference call isn't until 530. Thanks for calling out the resistance area! Guidance gonna be interesting. He already sandbagged expectations a bit saying he was very concerned about things and plants were money burners. Margins down to 26.2 after inflation. Still pretty good given this economy. He definitely has a fan club.

Still don't see how it's good going forward. Report was that he may not even be on the call. Does he normally not show? 

Crypto near flat, a precursor to next market down day after Tesla earnings on the back of those well timed put buys? 

Thank you!

Ugly candle for markets today unless they somehow reverse it.