Consumer sentiment is the only news on the economic calendar for Friday, so the stock market will be on its own if DaBoyz are intent on stirring up some craziness to end the week. Thursday’s rally was strong but hardly insane, and the moderate selloff in the final 30 minutes should help dry up selling overnight. Accordingly, we’ll be looking to fade moderate weakness on the opening, so check the chat room for a possible ‘jackpot bet’ if you want to try leveraging a possible reversal on-the-cheap. _______ UPDATE (April 13, 1:15 p.m. EDT): In retrospect it is moderate strength we need have faded, but this will always be a coin-toss bet. Next time, we can be prepared with two such bets, one in either direction. A bid for Apr 13 1635 puts would have produced a winning outcome today, since the option traded down to 1.04 in the first 15 minutes before climbing above 4.00 shortly thereafter.
Here’s the Plan for a Boring Friday
- April 13, 2018, 12:25 pm
As, GC and SI moves towards breakout levels and new all time highs over the days and weeks ahead. CL, as in the latter part of 2007/08 will move towards testing levels of overhead supply in the low 80’s. These market will in turn cause beginning ‘currency dislocation’s’, keying the DXY 88.254 level as a death trap lower.
Markets above along with timing will place ‘back breaking troubles’ for the new bear market in place to move lower over the days and weeks ahead, One leg lower at a time.
Continue trigger events will continue to be observe as Trump does what Obama, Bush, Clinton and Bush etc. etc. did before.
Have a great weekend Rick.