I agree the ES is also in an attractive position. However, I was talking about the CoT data for VX.

Love this trade ….bought a 300 put yesterday..::: absolute loss 21.55
only bought one (just a little guy)
But unfortunately, I can only hold this thing 15 days then I gotta get out because the decay will start to eat alive the value of PUT … unless she starts smashing with a dagger I will hold onto her and take it day by day

2 week of upside or sideways movement and the PUTS and CALLS both sides or 3 weeks absolutely the most… The way I see the chart

According to this chart ….sure there is alittle upside left but……how much milk do you want

I was just catching up on comments & about to sign off, but glad to whip up a quick market wrap. Should be posted shortly before 6pm EST.

Sure. The CVNA short is about flat from the original entry with the next sell signal & objective short entry or add-on to come on a break below this minor uptrend line & intersecting 50-day MA (support). Daily chart below.

The commercials won’t be able to reposition fast enough if the markets are about to get hit with what will probably be a Grey Swan Event, although from the looks of the charts, we could see a Black Swan Event soon as well.

Regardless, the $SPX COT mirrors that leading up to the March 20, 2024 meeting, which was followed by a 71% rally in the $VIX, starting shortly afterwards.

…and the thing about that is, I can make a much stronger (bullish) technical case on the $VIX than I could back then.