US equities are vainly trying to bounce. VIX is churning the 16s. WTIC has climbed to $90.98.
sp’60min
VIX’60min
Summary
All bounces will be restrained, as daily and weekly momentum is negative.
S/t bearish unless the daily 10MA (4448) is broken and held above.
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*Yours truly has picked up what I will call… Block’2.
An outright ‘crash’ position.
50x Oct’3rd SPY $400 PUTS.
It is a ‘HOLD until Monday Oct’2nd’ position.
Either it works out… or it doesn’t.
I can live with the latter.
What I can’t live with is the threat of a market spiral, and having nothing on the short side.
I also plan to pick up Block’1, that will likely be Oct’20th, probably the $430s or so.
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notable bond yield proxy: TNX, 60min
At most, we might come back to test old resistance of 4.36%.
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notable weakness: OXY
Mostly just lower with the main market.
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notable strength: AAPL
Apple catching some s/t speculative buyers.
I can’t expect it to be sustained.
Time to cook, although I’m also trying to pick up block’1.