Hi everyone,
Nice day for the portfolio. Software names are getting bid, and XBI 0.00%↑ ARKG 0.00%↑ as well as SBIO 0.00%↑ the medical breakthrough ETF we posted yesterday also had a very strong day. We got stopped out of VOYG 0.00%↑ with a 1R loss at $39.50. AMGN 0.00%↑ we took yesterday was also up nicely.
SPX sold off on hawkish FOMC Minutes, mainly pulled down by semi-conductor weakness. As you know, we’re staying away from those names until further notice. Parabolic rallies need time to digest, and if these names chop around for months with erratic moves in both directions, they tend to wear you out or scare you out. We will play them once the trend and momentum is back on.
Our data remains very accurate, but when the market turns choppy and news-driven—with constant noise and manipulation—short-term moves become harder to predict. That’s exactly when our GEX by Expiry and longer-term GEX by Strike become most useful. They help us filter out the short-term noise and focus on longer-term positioning.
The reason, why we stayed in ARKG and XBI, because positioning on both looked very constructive on the TMAD app, and we’re now enjoying the results of our patience.
For example, XBI has a GEX call wall at $200 and this can be pin for the price into Fall. We see strong positive flow into September on our GEX by Expiry chart.
Now, let’s talk about the bonds and FOMC Minutes, as well as look at the market for the rest of the week.
