S&P 500 Jun 23 to Jun 27 Outlook

By News Robot

Lawrence’s Comment

Recap
Consolidation during first half of the week was followed by explosive short squeeze from FOMC announcement. ES pushed to new high for the year. Closed the week above Y+1 and near week high.

Outlook
Consolidation at 50% range likely. A drop to B-0 / Y-0 also likely.

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Comments
  • smilingsynic June 22, 2014 at 11:08 pm

    On Friday we tagged the Jan-Jun upside target based on Jan 1-15 OR (I mentioned this s few weeks ago).

    • Lawrence Chan June 23, 2014 at 12:32 am

      I expect volty to pick up significantly this week.

      A violent take down to 37-40 is in order.

      • MidKnight June 23, 2014 at 7:12 am

        HSI had an extremely wild and wide range day. I think you may be onto something, sir.

      • Lawrence Chan June 24, 2014 at 3:48 pm

        Down to 40 with a 20 points directional drop. XD

  • smilingsynic June 22, 2014 at 11:10 pm

    SPX target 1965. I tried posting a chart to illustrate. No can do.

    Did you hear about IB’s new daily insurance charges that are being implemented tomorrow? If not, I’ll send you a copy of the email I received.

    Seems IB is targeting short gamma positoins (I have none myself) and is charging a premium daily.

    • Lawrence Chan June 23, 2014 at 12:31 am

      IB made the announcement last month and it seems like it wants to transfer the holding risk, which normal margin + brokerage insurance should have taken care of, to the clients. A form of carry cost (negative interest) like what many Swiss banks do.

  • smilingsynic June 23, 2014 at 9:59 pm

    Do Swiss banks do this same form of double dipping?

    I am usually out of my positions eod, but sometimes keep some overnight. This will not affect me all that much, but it does seem somewhat rapacious to me.

    Would you be interested if I wrote some book reviews for your site pro bono? Let me know if you are interested.

    • Lawrence Chan June 23, 2014 at 11:49 pm

      They have a charge on every freaking item … many of them are overlapping charges, so definitely some form of double dipping.

      It feels like China before modern times where banks are essentially security firms hired to safe keep your stuff with a price tag on everything =P

      If you have time doing book reviews it would be great. Send them over and I will take care of the rest (formatting etc.).

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