4/10 Recap

SPY

We continue to trend higher, and for the second straight session we bounced off the 8 ema and still remain over all the moving averages, technically bullish. While we do remain above the all important uptrend that we have been in for the last 6.5 months, if you look below the MACD has a bearish divergence forming. The weakness below the surface is beginning to show. We have alot of big data again this week and bank earnings Friday, it’s hard say much other than we are bullish but still teetering on the edge for the time being.

Trends

There hasn’t been much change in the past week here, TLT is emerging with some bullish action along with Gold and Silver, that isn’t too good of a sign for equities. SCHW had been building here for a couple weeks and finally played out up 4% as type this. On the bearish side of things ALLY has taken over on all timeframes, interesting financial that Warren Buffett owns a piece of.

1 Week

2 Week

1 Month

Today’s Unusual Options Activity & What Stood Out

Today was a somewhat slow day usually by the time I start writing the recap I’ve gone through much more, but today it was just a hair over 70 trades, I guess alot of caution until this week passes. There were alot of really interesting quality small cap bullish trades put on in tech land that I think are very interesting.