9/19 Recap

The market is in a bit of a lull before Powell speaks tomorrow, rates are up again, as is oil. We teeter on the edge of a breakdown in the SPY again, lots of things could go wrong here, if you’re a bull you’re hoping for a bounce here, if it doesn’t come we will be in for a period of weakness. Remember every big sell off as I’ve noted in the past begins with a break of the uptrend. Look back at 2018, the covid sell off in 2020, and last years dump, all started with a trend break. I don’t want to bore people by posting that again since I have a few times in the past, but that is just reality. Selloffs don’t just occur, you typically see that breakdown first. So pay extra attention this week. That white line is all your focus should be in, if you’re a bull you want to see a close above it on Friday, a dip below and recover is fine.

Trends

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2 Week

1 Month

Today’s Unusual Options Activity

You will see the PINS trades in there, I noted a few this morning before Investor Day and the CEO just spoke and guided to mid to high teens revenue growth and EBITDA margin improvement in the 30% range in the coming years and the stock took off.