Thanks to the FOMC meeting this week, S&P 500 started declining again. One interesting fact to point out is the VIX is not spiking and VIX9D is slowly but surely dropping, even though the VIX/VIX9D ratio is still very high. VIX Related Indices VIX9D was elevated going into the FOMC meeting on Wednesday. It is […]
The market started moving sideways this week, penetrating the secondary downtrend line to the upside rather than following the trendline lower. It seems the market wants to rally but likely will remain in a range between 38.2% and 50% Fibonacci Retracement lines. VIX and VIX9D seem to indicate that people don’t believe the Friday rally […]
CPI data released on Thursday caused a huge swing down then up in the market. Even though the CPI data was higher than expected, the market initially tanked then made a 180-degree turn and ended the day with green (image below). The 100% Fibonacci Retracement line drawn with the June low has been penetrated multiple […]
The market ended lower just like last Friday indeed makes it feels like deja vu. VIX9D is yet again lower than VIX just like last Friday also. The better-than-expected Job data on Friday was the main cause of the market decline. Core CPI data for September will come out next week so market volatility is […]
In case you missed it last month, this is the second monthly report of the “Can you make a living with a 50K trading account?” challenge. The idea is to see if it is possible to earn enough income by trading options with a 50K account. There will be withdrawals from the account every month to […]
The market consolidated near the June low for a few days then on Friday SPX and NDX penetrated the 100% Fibonacci Retracement line (1st and 2nd graphs below). RUT touched the 100% retracement line earlier in the week but not on Friday (3rd image below). While penetrating the 100% Fibonacci Retracement line is very bearish, […]
The FOMC meeting on Wednesday sent the market tumbling. It kept dropping and almost hit the June low on Friday. The market seems oversold and multiple gaps were formed as it went down. Technically speaking, we will likely see some kind of bounce soon. VIX Related Indices The Percentile Rank (PR) of “VIX / VIX […]
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CPI data released this week caused a massive drop in the stock market. On top of that, FedEx’s CEO commented about the upcoming recession, which again lowered the market. From technical analysis speaking, the market is so volatile that it is extremely difficult to read it. The fact that a short-term uptrend line and a […]
I decided to start the monthly report again as a part of the “Can you make a living with a 50K trading account?” challenge. The idea is to see if it is possible to earn enough income by trading options with a 50K account. There will be withdrawals from the account every month to supplement […]
The market this week made no sense from a fundamental standpoint. Federal Reserve Chairman Jerome Powell spoke on Thursday and re-confirmed that the Fed will continue to raise the interest rate and tighten the market, yet unlike last time, the market went up. VIX Related Indices The Percentile Rank (PR) of “VIX / VIX Related […]
The market continued its decline and paused in late Thursday and early Friday morning, then continued its decline on Friday afternoon. One thing I learned is to use the 130 Moving Average (average of 5 days of market data) on a 15-minute chart to see if the breakout was likely to last or not. It […]