by Dan Gibby | May 12, 2024 | Past Weekly Options Letters
Markets churned higher last week deeper into resistance, despite rising consumers’ inflation expectations and bearish sentiment. The University of Michigan’s latest sentiment reading (measuring consumers’ attitudes about the economy) fell to a six-month low. Inflation...
by Dan Gibby | May 5, 2024 | Past Weekly Options Letters
Friday’s jobs report showed a slowing labor market which caused a large bullish gap in all broader markets as it renewed hopes for more rate cuts this year. Thereafter, it was pretty much a go-nowhere day but many look higher over Friday’s high. The markets had wild...
by Dan Gibby | Apr 28, 2024 | Past Weekly Options Letters
All broader markets and S&P sectors rallied last week despite ongoing inflation worries, rising yields, more hawkish Fed speak, and geopolitical uncertainty. We said that a “turn” was imminent based on the extended markets and bullish internals. It was also...
by Dan Gibby | Apr 21, 2024 | Past Weekly Options Letters
All broader markets and S&P sectors (except for energy) were down last week on inflation worries, rising yields, more hawkish Fed speak, and geopolitical uncertainty. We said last week, “The S&P 500 now has a rounding top or a Head & Shoulders Top. ...
by Dan Gibby | Apr 14, 2024 | Past Weekly Options Letters
All broader markets and S&P sectors (except for energy) were down last week on Inflation worries (rising CPI) and geopolitical uncertainty. The S&P 500 now has a rounding top or a Head & Shoulders Top. There’s no reason to think markets won’t...
by Dan Gibby | Apr 7, 2024 | Past Weekly Options Letters
After closing at another all-time high last week (its 22nd record close year to date), the SPY closed with a nasty bearish Wide Range Bar (-WRB) reversal last Thursday on Fed talk. Friday was an inside day as expected, setting up numerous -123 Continuation Breakdown...
