Buying in the morning then selling in the afternoon and ending at breakeven….been going on all week. Maybe the jobless claims can shake it up on Thursday.
I just don’t understand these economic reports at times. Like today’s Inventories report: they revised December inventories from -0.8% to -1.0% and then report that January’s inventories are up +0.2%. What the $%@&*! It must be about government reporting that someone came up with, “Don’t be a dick for a tick!”
Today was newsworthy in the S&P futures as it has posted 9 consecutive higher closes. That’s a long stretch. Now I’m looking to see what is the longest stretch….but this evening’s futures tell me that we may not have to worry about it as they are already down 5 points.
The VIX has been up for 3 consecutive days after being down for 8 days. Thursday is shaping up to be exciting. Maybe it will be the day to cash my VIX calls and TZA positions.
Here’s an hourly chart of the SPY. Notice the unfilled gap from last Friday. Sure looks like a target to me….and Thursday may be the day we go for it!


so either the S&P gets repelled by the double top or confirms a break thru to new highs. We’ll see on Tuesday how that works out. Lookout for “Turnaraound Tuesday” though. 




