Risks Are Rising
TSLA missed badly as expected.
NFLX spiked 18% after selling off for months 485 to 345. I expected a bounce although I admit that was stronger than expected!Chases were plentiful today - to the downside.
Today I had these price targets given to clients in my live trading room near the open to chase short for today. ALL WORKED!!!!!$LLY $582.26
$LRCX $600
$TSLA $217.50
$QQQ $360.66
$SPX $4268.50 (A BUCK SHY)Gold and yields continued sharply higher.
At some point this will HURT the USD.The 10Y is firmly above my 4.9% line-in-the-sand where I warned equity selling should pick up. It has.JGBs continue to percolate higher: "If 80 then 100" as USDCAD + USDTWD also bid. BOJ tonight with CPI which is expected to be hot.
Bonds sharply lower into my Swing Short PT for TLT of $80.50 - $81.23 monthly support. Then I hope they hold!
I ask myself what is more bearish: If they don't hold... or if the reason they are bid is on geopolitical panic.Powell talked only of optionality today, while admitting they may not be at restrictive rate.
Volatility waited to move until after Powell spoke.
And then VIX took out my line-in-sand $20.44 tagging wkly PT of 21.33.
SVXY broke down decisively after toying with $83 support for 3 wks to tag $80.
That's 5 red wkly closes for SVXY.Given 6 of the 7 Mag7 Generals has been shot (TSLA), it will make for a suspenseful earnings season for mega cap tech!
And given real generals and admirals are sitting on US aircraft carriers off the Israeli coast, it is making for a suspenseful geopolitical backdrop for headline risk.Pls don't be complacent!!
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