We had a solid midday rebound in the works, but sellers regained control into the close, erasing most of the gains.
Some data of interest:
The U.S. total Put Option Volume hit a record high. To put that in context, it is higher now than during COVID-19 and the great financial crisis.
Obama 1.0 vs Trump 2.0
Source: Bespoke
Trump 1.0 vs Trump 2.0
Source: Bespoke
U.S. Stock Returns After Declining 10% or More.
The key here is the return of the market, the S&P 500, not a random individual common stock.
Time is your friend.
Here’s what I’m watching in the short term that could spark a bounce.
• Breadth > 5-day ma. ❌ We are close but not quite there.
• 30-min chart, moving averages flattening out, price above. ❌
• A spike in one-month lows. ✔
• Lower low in SPY-COMPQ with fewer 1-month lows.✅
• Capitulation‼❓ Sentiment is pretty washed out, but very little signs of panic.
• Oversold via T2106, T2108 ❌. Close but no cigar.
$SPY 10-day ATR below its 5-day moving average ❌
Tomorrow’s Key Events 📋
📊 Economic Data:
-
CPI Report (8:30 AM ET)
-
Canada Rate Decision (9:45 AM)
-
Bank of Canada Press Conference (10:30 AM)
-
EIA Energy Inventories (10:30 AM)
💰 Pre-Market Earnings:
$EH, $IRBT, $MOMO, $ZIM, $VRA, $DTC
🌙 After-Hours Earnings:
$ADBE, $S, $PATH, $LOGC, $AEO,
GET IN TOUCH:
Book a call, Calendly.
ZorTrades_Alpha actionable trade ideas.
On X ZorTrades
YouTube (tons of educational videos, many detailing my favorite scans).
