Fantastic addition to the service, Matt! 

I took a hedge again on remaining LABU shares. Have about 1/2 of what I did when I bought in the $4s dip now. Using LABD (3xetf here) for the hedge. 

Thanks everyone for the replies, I appreciate you all. My wife and I agreed divorce is too expensive. So we are staying the course like George W. used to say   

How do you manage your trading account when on vacation? 

I have an upcoming cruise for my wife and I's 14th wedding anniversary. I'm thinking to just go all cash in my trading account and enjoy the week off no worries. Markets will always be here when I come back. 

Curious on what you guys do in managing your accounts in similar situations? Or during times when you want to completely shut off and focus on your life otherwise. 

SPX The reality is the only real long term fix is a responsible Federal budget plan. You know like the ones we adhere to for our own households where you can't spend more than you earn ,you save, and invest wisely. 

Anything but that is temporary and the long term picture gets worse not better. 

There will always be another virus, war, etc. Can't fund everything and care for the whole world, just not possible. Hard decisions though necessary for system wide stability. Any President should demand this as non negotiable on day 1. No changes until this changes. Managing accordingly one day at a time. Risk/reward

Looks like a h&s pattern. A symmetry break takes us into the 3,845 gap eventually because I said so haha

I think that 3,845 gap comes into play again and noted the 3,830 support you mentioned Steve. Makes sense to me here. Not seeing how that gap holds up longer term frankly. Will continue to play what's in front of me. Taking a pause. Grass cutting therapy then see how the morning gap down plays out, if sustained or filled as well. Alerts are set. 

Always love a good Steve newsletter! Keeps me grounded. Protect, monitor, and adjust. Good lessons and disciplines bear repeating on a regular basis. Also like the daily supports/resistances you post Steve, super helpful. I appreciate you!

Oppenheimer cuts S&P target:

Strategist John Stoltzfus on Thursday cut his Street-high S&P 500 target to 4,800 from 5,330. That would be a gain of about 24% from where it trades this morning. 

SPX I was just thinking about the Fed minutes yesterday. Nothing new to learn as Powell had spoken prior already. Overkill with this stuff. The market calendar for economic data/releases needs to be revised. 

XBI LABU The big money is speaking loudly, Pfizer, AstraZeneca..and now more M&A talk in play. Merck this time: https://www.wsj.com/articles/merck-is-in-advanced-talks-to-buy-seagen-11657160827

This is the type of activity that is seen when a sector or market has bottomed or is in a bottoming process. It is no coincidence that there have been multiple acquisitions and more on the table to come. 

Fed sees ‘more restrictive’ policy as likely if inflation fails to come down, minutes say

https://www.cnbc.com/2022/07/06/fed-minutes-june-2022.html

AGG Bond ETF I started a 10% position here when markets made recent lows in my wife's retirement account. There is an "F fund" there that is similar that I used. I can make a case here with the yield that these are conservative equities at a discount and rates have been priced a good bit into the future relatively speaking. There is never been a chance to enter down 10-11% or so ytd. 

I appreciate others sharing what they are up with with looking out longer than the next year or two. This is on our investment side, not a trade. 

Because it does not earn or produce anything. A non productive asset. A trading instrument at best. I think Buffett has it right calling it a "shiny cube". 

XBI More M&A today, Pfizer made a huge purchase prior and now AstraZeneca:

https://www.reuters.com/markets/deals/astrazeneca-buy-oncology-firm-teneotwo-up-127-bln-2022-07-05/

As I posted prior before this massive rally from $62 to $81 so far, 25% of the biotech companies were trading below cash and I'm sure it increased a bit more before the recent double bottom. That's when the huge volume came in, XBI was strong and green and SPX was still struggling. 

This area is one of the new leaders now and for the future. Still long LABU and have trimmed a bit into this ramp and trailing. I did hedge a bit on the close as I'm not sure if market volatility is over yet. Also, XBI is now at a long term 65 rsi so possibly vulnerable for some consolidation. Ready either way and would love more upside sooner than later. 

FOMC minutes tomorrow at 2pm. "Protect, monitor, and adjust". Steve has made my office whiteboard. The other statement on the white board is "Be flexible when markets change" 

The land of Oz, whoever runs this show, and makes it trade how it does. It is not by accident. Very illiquid and is purposefully moved for profit. I don't argue, just take what is given. 

Filled the 3,825 gap on SPX. They stole from both sides today if people were firm in their numbers. Nice fakeout to 3,740s acting like they wanted 3,675 gap, then run it. Hilarious. I wasn't involved, just holding LABU up 14% today again. Trimmed some again on this blast. Keeping my allocation dollars firm, taking some profits as it moves, and adjusting. Getting close to hedge time again with a 64 RSI there. Nice to see it hit $80 on XBI

Fed doesn't show signs of reducing the balance sheet that I'm seeing at all. In fact assets are increasing:

https://www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

S&P 500

Credit Suisse cuts target to 4,300 down from 4,900. 

Oppenheimer still at 5,330 for year end. 

source: Seeking Alpha