It is a lazy Sun afternoon and boy oh boy did the SPY rally on last Fri. It hit the 390 Resistance. At this point, it will be a tough fight. GDP - good or bad ? came in 2.6 above estimate. If you look at the breakdown, it wasnt good. Apple - Good or Bad ? Main biz iPhone wasnt good alth other device biz was doing ok. The rest of the FAANG - 💩  Will the rally continue to end of the year? This will depend on coming FOMC ie Milder tone or tougher tone from JPowell. Next year ? I think next 2 Q will be bad. Sales will drop and btw the INT hike will come into play for US/EU company earning next year. Thats why many analysts say another leg lower as long as Fed dont U turn. Current Fed rate target 5% early next yr. However it is not the drop we shld be worrying. The concern is how hig

Learn something new here [Grin] . I give my humble pie [LOL] ATR ATR , basically give you the average delta up or down price movement . Help you to set a target to take profit or cut loss. Parameters The parameters (1 -3) is your tolerance range. It gives you some idea when to cut loss or take profit. Set at 1 is probably no good bec you end up cut losses too often. Set at 2 also mean you giving yourself roughly 2 days of leeway. Pro /Cons pro - simple . work better if the trend persist.  Con - 1. it doesnt tell you when is a good entry. 2. dont work for stocks that are volatile 3. skewed average for stocks that had recently big up or down over a period. 4. you should set the high at the resistance level instead

The WJ news derailed the chart movement. Is this good news, bad news or No news ? My take. Basically No news because most already know next yr 75bps (per hike) is unlikely. Further big hike like this will cause the treasury market to crack more. If treasury market collapse,  God Save the Queen (ops sorry she is gone) So WJ news is just for them to earn Option money. Next week what to expect?  Monday may continue to rally but dont think it will pass over 383. Tues to Fri , big tech earnings. Market will move according to their earnings. Personally I dont think they will do well [lovely] [Speechless] Final word. The more it rally next week, the more Fed will be hawkish on 2nd Nov FOMC [Mybad] (Jpowell will slap everyone [LOL]) [Comfort] [OMG]