7/22/20 MARKET CLOSE Update - Consolidated Analysis

Updated: Jul 23

This is my singular thread that encompasses all areas of review for the day in the Hunger Markets.

PRIMARY MARKET REGIME CURRENTLY IN PLACE:


EQUITY NIRVANA

What this means: Dealers buy the dip and sell the rip.


When could this technically flip regimes: Flip is now 3200-3210 and below.

TODAY'S ACTION:


VIX and VXX meh...closed -2.09% and VXX -1.12%

  • UUP was sold today -0.27%

  • TLT was bought today +0.30%

  • SPY was bought today +0.57%

  • QQQ was sold today +0.35%

  • IWM was bought today +0.05%

  • SMH was sold today +0.73%

  • FAANGs Mixed

  • HYG was bought today +0.20%

  • XLF was really bought today +0.00%


J-ROME AND THE MANUCH AT THE CLOSE ZOOM CAM:


Another stimulus coming??...partisan arguing at the moment...but meanwhile Mainstreet loans are starting to turn over for large corporations (over $10m is the lowest value lendable)...large numbers of these already being approved...turnaround on one of them is 48 hours and FED buys 95% of the loan FYI...no risk for the bank...

Ok, so where are we today based on the macro trends we are tracking:

  • COVID19 cases - another day and another record breaking COVID death day...endemic

  • US/China relations - dumpster fire...the quiet nature of this lately was just a fake out...Chinese consulate in Houston being forced closed and 72 hour evacuation notice given is what you do before you head to much more escalated things...

  • $USD - Red

  • Bonds (TLT) - Meh

  • VOLS (especially 60+ days out) - Meh

  • GEX levels - Meh


Silver. Ha. Nothing else to say. That is where all the action is at the moment. Rest of the markets keep leaking green upwards on auto-pilot. Volatility is experiencing the lowest period in over a decade...all is well. Sure it is...


PPE looking good here...tech is starting to lag a little...S&P will get a TSLA too now after they 'posted' a profit just now...fitting because its on auto-pilot already. Remember, stay on your toes when riding the liquidity waves...but 'ride them you must' says the FEDi.

WINNERS:

Takeaways: Silver and silver associated things are green...as is most everything else.


LOSERS:

Takeaways: Energy - seriously...just apply for one of those mainstreet loan things and just buy your stock back...are you guys really this stupid???? No red allowed.

VOLATILITY:


VIX: Chart with Detailed Levels

Market Structure: Neutral

Momentum: Bearish

Internals: N/A

Block Volume: N/A


VXX: Chart with Detailed Levels

Market Structure: Neutral

Momentum: Bearish

Internals: Neutral

Block Volume: Neutral

GEX: Negative

VIX/VXX Summary: $30 is the barrier for VXX. Above it will force some repositioning.

INTERNALS


TRIN:

Takeaway: 2 bulls and 2 bears.


ADVANCERS/DECLINERS:

Takeaway: All green.


200 DMA:

Takeaway: Meh.


NYSE ADVANCERS/DECLINERS:

Takeaway: Meh.


CUMULATIVE VOLUME:

Takeaway: Breakout already...


ABSOLUTE BREADTH:

Takeaway: Backing off a little...


MCCLELLAN OSCILLATOR:

Takeaway: Still meh but should leak to the sell level.


INTERNALS Summary: Meh. Nothing definitive. This is all gorpy low volume price action...which we know how that ends when it does terminate...wherever higher price that ends up at...


INDEXES:


SPY: Chart with Detailed Levels

Market Structure: Bullish

Momentum: Bullish

Internals: Positive

Block Volume: Positive

GEX: Positive

Put/Call Ratio: Neutral

Volatility Metrics: SPY VOL Term Structure


SPY Summary: Just fill the FVG upside already...god bless we ain't got all day bro...

QQQ: Chart with Detailed Levels

Market Structure: Bullish

Momentum: Bearish

Internals: Positive

Block Volume: Positive

GEX: Negative

Put/Call Ratio: Neutral

Volatility Metrics: QQQ Volatility Term Structure

QQQ Summary: VOLS rolling off now on the short term...makes sense. But this is still really wonky action going on here. Feels like it is broken. Volume up here is abysmal.

SMH: Chart with Detailed Levels

Market Structure: Bullish

Momentum: Bullish

Internals: Positive

Block Volume: Positive

GEX: Positive

SMH Summary: Still just hanging out here at these high levels...on low/no volume.

DIA: Chart with Detailed Levels

Market Structure: Neutral

Momentum: Bullish

Internals: Neutral

Block Volume: Negative

GEX: Positive

Put/Call Ratio: Neutral (wild action)

Volatility Metrics: DIA Volatility Term Structure

DIA Summary: Probably going to migrate higher to the open FVG at this point unless there is more to the schematic this week with VPOC below price.

IWM: Chart with Detailed Levels

Market Structure: Neutral

Momentum: Bullish

Internals: Neutral

Block Volume: Negative

GEX: Positive

Put/Call Ratio: Neutral

Volatility Metrics: IWM Volatility Term Structure

IWM Summary: VOLs creeping up today - otherwise nothing.

BANKS & HIGH YIELD CREDIT:


XLF: Chart with Detailed Levels

Market Structure: Bearish

Momentum: Bullish

Internals: Negative

Block Volume: Negative

GEX: Positive

XLF Summary: Positive GEX cut in half...will keep monitoring.

HYG: Chart with Detailed Levels

Market Structure: Neutral

Momentum: Bullish

Internals: Positive

Block Volume: Positive

GEX: Negative

HYG Summary: Nothing to report here at the Boomer Social Security Fund.


TREASURIES, $USD, and PRECIOUS METALS


TLT: Chart with Detailed Levels

Market Structure: Bullish

Momentum: Bullish

Internals: Positive

Block Volume: Negative

GEX: Positive

TLT Summary: Bullish if it doesn't break down here at all.

UUP: Chart with Detailed Levels

Market Structure: Neutral

Momentum: Bearish

Internals: Negative

Block Volume: Negative

GEX: Positive

UUP Summary: Still nothing...we keep waiting. All I here is how the EURUSD is going higher now.

GLD: Chart with Detailed Levels

Market Structure: Bullish

Momentum: Bullish

Internals: Bullish

Block Volume: Positive

GEX: Positive

GLD Summary: Mainstream still not on board yet with this...makes you wonder how high this will go in the future.

SLV: Chart with Detailed Levels

Market Structure: Bullish

Momentum: Bullish

Internals: Positive

Block Volume: Positive

GEX: Positive

SLV Summary: Hold my beer TSLA. This is in no man's land now with no FVGs until $27. Can just eat lunch. Would not be shocked with WILD SWINGS down that are scooped up FAST from here on out now.

GDX: Chart with Detailed Levels

Market Structure: Bullish

Momentum: Bullish

Internals: Positive

Block Volume: Positive

GEX: Positive

GDX Summary: Demand is high with this and negative GEX is just evaporating. Printing gains. New VPOC is $32. Price shouldn't go below there on any pull backs if they happen.

THE END

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