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I know we have been talking a LOT about CPI, but it’s important that we really look into the breakdown of the CPI and look at where the month-over-month inflation rates are accelerating the most. Food and Energy are reaccelerating,
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CPI came in hot this morning. Shanghai has renewed lock downs and will roll out mass testing in seven areas of Shanghai. UNG Natural Gas is in a gamma squeeze to the upside, so energy will remain high with lite
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VIX is still low which means our expected range of movement for the SPX and SPY are still quite narrow between open and close. Going into OpEx with ever swing slightly higher, we’re seeing more selling at the 4150 across
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Good Afternoon Friends. Just a gentle reminder today we kicked off QT, and this morning we saw a lot of weakness in the market, but following the positive ISM data that came out we saw how quickly the market turned.
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Macro Update: Food riots are starting, Sri Lanka is already facing serious unrest, Pakistan and Iran are looking to be next. Instability in Iran would compound the energy supply issues we’re already facing. Commodities deals are bypassing the US Dollar,
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Macro Beardown Breakdown. India (the second largest wheat producer) has put a ban in wheat exports. China has also banned the export of fertilizers; following the sanctions of Belarus and Russia, and this is essentially limiting the global supply of
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Good Morning Friends, Macro Minutes… Friday we saw a bit of a relief rally after VIX started to roll off the 30s into the high 20s, and remember VIX expiration is Wednesday and then we have options monthly expiration this
Read moreGood Morning Friends! Remember how I was telling you back in the Day (probably last week) that as credit spreads widen the greatest pressure will be felt by banks that can not borrow money via bonds? Yesterday seven high grade
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Good Morning! Yesterday we closed below our (Open Interest) Put Wall on both SPY and QQQ, and that has not happened since I can’t even tell you when. We also have gamma squeezes on most of the major tech names,
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This last Week/Weekend was massive and CrayZayZay! (Read with a Comedic Tone…) Russia Oil Embargo what?! (but not Gas, so Germany is spared a total implosion). Shanghai Ports, they still exist, only in our minds’ eye because strictions are getting
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