Saw big positive flow in ITM SPX options I trade around 1:30 that gave heads up to end of day move. Lets see if it follows thru into tomorrow or beyond. Always interesting to see the footprints before moves happen.

I would also add that since its low float it has moved proportional to how often its mentioned on BPT.  Not saying its being pumped but volume has increased dramatically.

Matt - Could you post SPX cycles charts during this last hr when you have time? Thx

Steve (I assume) - Thx for adding 60min rising wedge. Wasnt on my radar.

Big SPX volume today on narrow range up candle + positive market indicators ST = typ bullish; options gamma keeping SPX pinned but could be explosive over breakline when contracts roll off tomorrow.  

Like the TICK extremes, I like seeing Matt/Steve's potential wave labels as it gives me a guide of market position for strategizing orders. Understood its dynamic and not always accurate.  Its another indicator you cant obsess over, but overall its helpful when comparing to my counts. Thanks for sharing guys.

TDA shows 68.34 and higher previous highs that Stockcharts doesnt, wild.  Ive also been monitoring that channel but will watch closer now. Thanks.

Interesting TradingView shows that pre-covid high and Stockcharts shows couple pts lower w/ all previous highs surpassed...even PnF shows a triple top bullish breakout.  BMY is a LT holding of mine and charts look good. Its typ a slow and steady mover.

KOlooks like a buy (57.5ish pre-covid high target); also weekly and monthly charts look great: https://schrts.co/PFmKyxKI 

Be cautious shorting pullbacks this late in the cycle, unless your nimble. Still gas in the tank to take market higher; the time will come to be negative but not there yet. Plenty of positive signs in the technicals, aided by short covering rallys. Fundamentals are another story you cant trade off. 

Investors still have one foot out door...should lead to higher indexes. 

Be cautious Tafter that dilutive deal; dividend cut. Sold all shares last week after it reached a measured move to resistance.  Poor Monthly and Weekly charts made that advance prone to failure at major resistance around 32.5.  It also had an open gap on way up that was filled today.  Huge volume yesterday on deal.

Learn futures. Best instrument for commodities. 

Basic call / put options works well for most; complexity = headache. Really comes down to timing. One needs to anticipate turning pts to get in/out slightly early to the algos. For example, had SPX ATM calls that lost 50% in value this wk and wiped out my profit w/in 2 days...that's fast.  Was not paying attention to market position like I should have. Options move quick so timing is everything; best to keep a relatively short term mindset w/ them for this reason. 

Unless you have a good algo doing your trading Options take a while of consistently analyzing to time entries well. Its safe to assume the other side of an options trade is an algo. 

While I don’t disagree w/ the poor tech action I would caution jumping to conclusions it’s game over. A lot of shorting can produce another leg higher at any time. I don’t really have tech positions anymore but I’m reading articles claiming HF’s have high sector shorts. 

Steve - Is the content presented at these types of conferences worth the attendance...Would you suggest for investors?

One foot out the door. LT indicators and flows look fine. Maybe market pulls back more to support levels ST but this is doubtfully the end. 

Thanks Matt. These are helpful. I often coordinate these levels for adding to SPX positions. 

Took some profits near highs AH @3650. Might move higher; reload as it comes down some. 

On a side note, I salvaged large electric feeder cables from a building I redeveloped many yrs ago and have been storing a couple tons of copper in a warehouse until prices got high enough to sell. Not sure when I'll pull the trigger.