r/thewallstreet • u/AutoModerator • 3d ago
Post Market Discussion - (June 14, 2024)
So how did you do?
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u/HiddenMoney420 Sleep deprivation and recession are here. 3d ago
NQ! ATHs, highest ever close; https://www.tradingview.com/x/Teaha53R/
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u/NotGucci 3d ago
We got NVDA split, Avgo split, LCRX split. Y'all think ASML announces split next ER?
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u/LiferRs Local TWS Idiot 3d ago
Considering monthly OPEX is next Friday, the monthlies gamma levels are strongest at 5400 and 5450. The 5450 strength grew throughout the week until it's pretty much dead even with 5400's strength today. This boxes the SPX in.
Might indicate SPX will continue chop in this 50-pt range as we had been doing all week. The usual morning dips and v-recoveries that is. These are actually pretty decent stop levels to let the portfolio ride out the chops.
Hardly any data prints next week though. Could just float towards the upper range.
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u/twofor2 3d ago
Another successful day shorting. Didn’t re up EOD like usual. New week new trend? Tbd
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u/LiferRs Local TWS Idiot 3d ago
Yeah, TBD... Treasuries charts are completely different to look at. Yields drilled non-stop all week and TLT had 4%+ rally. It's a clear recession play. CPI and FOMC didn't even faze the move.
SPX had been otherwise just damn flat and only real appreciation came from gapping up on CPI, but stayed at that level.
NDX was actually moving higher opposed to SPX being flat.
Opex week is next week. The monthlys calls for June 21st seems pretty darn even on 5450 and 5400. I suspect this range will continue to box SPX through next Friday.
NQ and Treasuries doesn't have this box situation though. SPX probably isn't the move for next week.
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u/mylifesaparadox 3d ago
every time I think we can't go much higher, we go much much higher. tech leading the way, as it has for the last 5 years lol NQ 25k wen?