Comments on: Technical Analysis & Swing Trade Ideas 5-29-24

By: @GEOTRDR

@GEOTRDR — Thu, 30 May 2024 20:27:47 +0000

AM up move imho…i was 1 day too early…..

By: Imadaytr8r

Imadaytr8r — Thu, 30 May 2024 06:23:01 +0000

In reply to rsotc. NQ just hit T4 … currently (11:20pm PST) down 129 to 18,673 … I’m guessing the VIX will gap up in the morning!

By: Imadaytr8r

Imadaytr8r — Thu, 30 May 2024 06:17:39 +0000

In reply to stockninja. I bought a 1-DTE PUT Butterfly SPX yesterday (Tuesday) with the center strike closing today (Wednesday) at 5265 … the SPX closed at 5266.95! My $65 option closed today $793! Wish I bought 10 of those contracts yesterday! Max loss potential was only $65! That’s 11.2X profit in one day! SPX is already down 35 points overnight (11:15pm PST) so buckle up! Should be fun!

By: rsotc

rsotc — Thu, 30 May 2024 00:03:36 +0000

/NQ took out the downtrend line highlighted earlier today, triggering a counter-trend bounce, as expected, and also providing an objective add-on, re-entry or new short entry on the bounce into the aforementioned 18877 resistance, reversing there followed by another (as expected) thrust down to hit T3 on the 5-minute time frame.

By: fcel

fcel — Wed, 29 May 2024 20:27:48 +0000

Randy: with the hardware companies such as NVDA, SMCI, AVGO, etc, going sky-high, does it look like it’s the PC maker’s turn to go up? As such, could you do a chart analysis on DELL? I’m looking for more upside on DELL.

By: @GEOTRDR

@GEOTRDR — Wed, 29 May 2024 20:16:58 +0000

Looking for an upside am tomorrow imho….

By: Pbathula

Pbathula — Wed, 29 May 2024 19:12:02 +0000

@rsotc, How much you made on NVDA short?

By: rsotc

rsotc — Wed, 29 May 2024 17:38:05 +0000

In reply to KevinK.

Hard to say because crude & nat gas prices are nearly immediately reflected in the CPI whereas other commodities, particularly the agricultural commodities, are not since (I believe) it is only the finished/end products (i.e.- a loaf of bread, not wheat) that is included in the CPI. As such, in that example, wheat can go up in price but General Mills or Kellogg’s may or may not raise the price of a box of Cheerios & Special K, at least not for some time.

However, the broad-based commodity indexes (and the ETFs/ETNs that track them, such as DJP & DBC) happen to have a top-heavy (~50%) weighting on energy (crude & nat gas) so yes… a pretty good way of gauging what inflation (CPI) has done the previous month before the report is released, especially when there has been a clear & big move up or down for the month (start to end).

By: stockninja

stockninja — Wed, 29 May 2024 17:18:28 +0000

I know I mentioned this topic before but it seems like media is not putting it in Top Headlines that China has resumed military drills/activities around Taiwan and “looks like its gathering resources”. Rather than the Trump trial, I would think this has a much larger impact on the world. lol! At these levels, Im comfortable with a longer term short play on the market.

By: KevinK

KevinK — Wed, 29 May 2024 16:09:07 +0000

Randy, DBA and DJP have both risen over 12% in the last 3 months, yet it hasn't been reflected in the CPI. The CPI went down from rising 0.4% in March to 0.3% in April. I realize that there will be a delay in the effect of a rise in commodity prices to prices paid by consumers at the market, but until there is a sizeable increase in the CPI, I think the stock market will ignore or tolerate the rise in commodity prices. A big rise in the CPI would throw the stock market for a loop. Any thoughts on how long it will take for a the significant rise in commodity prices to be reflected in the CPI ?