evening wrap
market vibes
October 16 …)
"When in doubt, go to the library." Harry Potter
SSDD would sum up the NY session. I might have crafted a parallel to Godot but we’re not waiting for anything. We’re out here in the petrified forest with Bogie and Betty (great movie).
For once the stock market and I agree on something. The lowest volume in S&Ps since July 3. Last Friday NDX got tumbleweed honors. Rotation as it were.
XAU/EUR made another elegant ATH, yawn…
Because… you know… the dollar thing.
THe sentinels of Silver were guarding their gamma at 29.50 today. SLV in hourly data. (Chart Below)… don’t you dare even think about it!
Oil is catatonic.
My vibe
These days before the election are so painfully dull. I could be wrong, but I’ve never seen an election so desultory, so empty. Trump is winning bigly, Kamala is frenemies with Joe. The middle east is bleeding. Am I the only person who can’t keep Volodymyr and Voldemort straight? Art and life.
Brent Donnelly posted this chart this morning. Which added to the mega long positioning and sentiment is like a needle in toe tag on the slab.
This note is the fewest words I have ever written on Substack!
Choose your avatar. I’m going going to fish.
The Petrified Forest (original trailer)
Good luck in Asia…
JJ
Please feel free to share selectively with friends and colleagues. Thanks a million for your likes!!
Follow me on X @Alyosha745
Charts and data CQG and Bloomberg
Market vibes is not a registered investment advisor, and comments are for informational use only. Any mention of a particular security, index, derivative, or other instrument is NOT a recommendation to buy, sell, or hold that security, index, derivative, or any other instrument. Market vibes makes no representations as to the accuracy of data or any attributions.
I’m not here for the politics, and I take no issue with whatever seeming to me innocuous comment you occasionally offer, but will reply, with the same shrug I picture you giving; should Americans, in the mean, decide they are in fact “done with the drama” of Trump’s presence in their lives, and that translates to the majority choosing the status quo instead, it’s my hope we don’t read here allusions to a rigged election. Thanks in advance.
I should declare my ambivalence too (especially at this point), by pointing out I’m Canadian.
JJ...any take on uranium? The sector is starting to heat up again.