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Sanrith Descartes

Sanrith Descartes

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SPY 100-DMA has now turned downward. the 20, 50 and now 100 are all going the wrong direction.

edit: With this happening I am reassessing my positions. Unless something happens to turn the market movement back skyward, I am most likely going to be cutting holdings who have been more speculative.

Cut MMM for a fractional loss.
 
Last edited:
Aldarion

Aldarion

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"wrong" direction?
1698241307251.png
 
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Sanrith Descartes

Sanrith Descartes

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Sanrith Descartes said:
SPY 100-DMA has now turned downward. the 20, 50 and now 100 are all going the wrong direction.

edit: With this happening I am reassessing my positions. Unless something happens to turn the market movement back skyward, I am most likely going to be cutting holdings who have been more speculative.

Cut MMM for a fractional loss.
Click to expand...
There is some intermediate term support at $412 and then failing that a strong zone of support in the $406-$410 range and of course options support at $400. Short of some event giving us a reason to rally here and reclaim the 200, my guess is we drift down through the $412 line and into that support area from April/May.

Or, I am totally wrong.

edit: AAPL 200-DMA is $170.17, keep an eye on this also. I can see it propping up the market until AAPL reports next week. An AAPL earnings miss and we are on the express elevator down.

1698242469042.png
 
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Sanrith Descartes

Sanrith Descartes

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Interesting factoid that may mean nothing. TLT and the S&P began a pretty solid correlation around Aug 1st (maybe even mid July). Prior to that they appeared to be generally disconnected. Until we get clarity on wtf the Fed is planning long-term with interest rates, whither bonds so goes stonks.

1698244019932.png
 
Jysin

Jysin

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JPY USD hit 150. VIX moving up, 10Y yield moving back to highs, Netanyahu beating the war drums.

SPY and QQQ sitting on some critical support before an abyss below. QQQ nearly at -2.5% on the day

Trying not to be cute and contrarian and loading up too much. Blazin Blazin ?

its happening the office GIF
 
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Sanrith Descartes

Sanrith Descartes

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Jysin said:
JPY USD hit 150. VIX moving up, 10Y yield moving back to highs, Netanyahu beating the war drums.

SPY and QQQ sitting on some critical support before an abyss below. QQQ nearly at -2.5% on the day

Trying not to be cute and contrarian and loading up too much. Blazin Blazin ?

its happening the office GIF
Click to expand...
I grabbed some more SPLG at $49.10 and continue adding to my core S&P 500 position

Edit: for reference this is equivalent to SPY $417-ish.
 
Mist

Mist

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NASDONKED. I just bought 5k worth of 20-year bonds. Am I part of the problem?
 
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Blazin

Blazin

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Jysin said:
JPY USD hit 150. VIX moving up, 10Y yield moving back to highs, Netanyahu beating the war drums.

SPY and QQQ sitting on some critical support before an abyss below. QQQ nearly at -2.5% on the day

Trying not to be cute and contrarian and loading up too much. Blazin Blazin ?

its happening the office GIF
Click to expand...
I’m the mountains still so I can’t be as helpful . I bought 300 shares of spy and that’s all I’m willing to play at this lvl .

doesn’t look good
 
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Mist

Mist

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AMZN earnings tomorrow... possibly a great opportunity for a trade, or a great opportunity for a blowout.

As an AWS certified solutions architect working for a third party, my opinion is that things are looking good for cloud sales across their offerings... but who really fucking knows.
 
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Kiroy

Kiroy

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Mist said:
AMZN earnings tomorrow... possibly a great opportunity for a trade, or a great opportunity for a blowout.

As an AWS certified solutions architect working for a third party, my opinion is that things are looking good for cloud sales across their offerings... but who really fucking knows.
Click to expand...

ya isn't this the problem, you can msft or goog
 
Mist

Mist

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Kiroy said:
ya isn't this the problem, you can msft or goog
Click to expand...
Google really doesn't have a lot of 'productized' cloud offerings, which is likely why they're having trouble. MSFT and AMZN have amazing offerings and entire apparatus for helping companies uplift or refactor.
 
Jysin

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MSFT stated growing Cloud revs in earnings yesterday, so there's speculation that has come at the expense of AMZN.
 
Jysin

Jysin

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For context. Japanese intervention is at high risk at 150+. TLDR version is US yields spike massively. Yields spiking is a very real threat to stability right now.

www.reuters.com

Explainer: What would Japanese intervention to boost the weak yen look like?

Japanese authorities are facing renewed pressure to combat a sustained depreciation in the yen, as investors eye prospects of higher-for-longer U.S. interest rates while the Bank of Japan remains wedded to its super low interest rate policy.
www.reuters.com www.reuters.com
 
Sanrith Descartes

Sanrith Descartes

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<Aristocrat╭ರ_•́>
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Jysin said:
For context. Japanese intervention is at high risk at 150+. TLDR version is US yields spike massively. Yields spiking is a very real threat to stability right now.

www.reuters.com

Explainer: What would Japanese intervention to boost the weak yen look like?

Japanese authorities are facing renewed pressure to combat a sustained depreciation in the yen, as investors eye prospects of higher-for-longer U.S. interest rates while the Bank of Japan remains wedded to its super low interest rate policy.
www.reuters.com www.reuters.com
Click to expand...
At least I no longer have 25% of my portfolio covering those S&P 500 puts. Bring on 4000.
 
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