Nice reversal in SPX spotted early on. I was able to get a put trade with it and that was most of my action for the day. The ideas of noticing they key factors that are moving the market and using those as a guide in addition to some basic support and resistance is working well. The VIX is moving freely now which is telling me that the conflict “perma-bid” for vix isn’t there, its more about earnings and bond yields for the moment.
META dropped 15% after hours on earnings. Earnings were good but guidance was a bit weaker and capital expenditures are coming in a bit higher and people may have some PTSD from when META was doing a lot of cap-ex for the metaverse. Will it be the same story for AI? Probably not, but it has the market concerned.
I’ll be watching IWM with rates for an inverse correlation there tomorrow.
Not a lot on watch tonight, I want to see what the tone of the market is tomorrow and I’ll try to find something in the morning and then I have to travel later on.
Thank you!