10/10 Recap

The market rallied hard this morning as yields, oil, and the vix fell simultaneously. We had Paul Tudor Jones who I respect as one of the best traders of our time saying we likely enter a recession in Q1 this morning as well. Overall this just looks like a continuation from yesterday and we’re nearing that 440 level I discussed in yesterday’s recap with the 100 day, the white line, right above us. Momentum is now positive with macd crossover and this just looks like a normal run up into earnings season that happens almost ever quarter. Still we have PPI data, we have Amazon Prime Day sales data, and bank earnings on Friday, so we’re not out of the woods yet but we are up 4% in 3 sessions.

The market is selling off slightly just now on the news out of Netflix that ad sales are half the projections for their new ad tier. Decent intraday selloff in Netflix.

Trends

a few of these short term trending names really took off today like META,ABNB, and AMZN. BAC remains heavily bearish into earnings, there have been lots of rumors that they may suffer heavily from high rates being so levered.

1 Week

2 Week

1 Month

Today’s Unusual Options Activity

A couple of these recent ones I had noted really worked out. The AMZN weekly 128 calls in yesterdays recap went from $1 to $3.50 today. The EA calls I noted on Friday exploded today with the stock now up 3.5% today at $128.50 on a big upgrade

and the ABNB $129 weekly calls from the Friday recap also soared today as the name is at $132.xx right now