Monday, May 18, 2015

May 18 - Early stages of breaking out

SPY / DIA followed through today and it is looking the intermediate trend is moving beyond the range bound zone.  The fact the sell signals from 30 min frames to 2 hr frames were negated is very bullish.  We are seeing again sell signals on short term but it remains to be seen whether they trigger.  Even if they do, I am inclined to think this is more of a buying opportunity than a major selling one.

Courtesy of Rob Hanna's Quantifiable Edges, potential bearishness towards end of this week.

Many invalidated sell signals from SPY to VIX today.

VIX is still in the zone we have seen falls in equities in the past, indicating high level of absence of fear in the market.

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July 21 - Still massively long banks, took short term longs in NVDA, BABA, HAL, OAS

Probably 2/3 of the options account is in banks.  Maybe 1/2 regionals and 1/2 XLF, C, BAC.  Expecting another run up in equities into Augus...