$SPDR S&P 500 ETF Trust(SPY)$ Best possible scenario for markets right now. General uncertainty is gone since the election is over, and the market likes that. The win was large enough that contested elections become meaningless, which the market loves. Without a 2/3 majority, democrats can't do much, so the ultra wealthy still have nearly unlimited access to the WH, veto power, executive orders, and every federal agency. The market is ecstatic over that.
$Intel(INTC)$ Buying opportunities. Foundry will be a trillion market cap by 2030. Fab 52, Fab 62, and the Ohio fab in full volume. Intel will be in the $200 range.
$Intel(INTC)$ This just shows the "monkey see, monkey do" mentality has reached Wall Street. Computers are driving the buy and sell moves. Intel beat earnings and the outlook is bright, but a building fire shouldn't trigger a sell-off of this magnitude. I got in at 24.20, so I'm holding, but it really shows how many people can't think for themselves.
$Intel(INTC)$ INTC is setting up with bullish asymmetry, but I am waiting for confirmation before doing anything with it. Negative GEX favors expansion here. Call wall and max gamma are both at $70, put wall at $65, and pin tendency looks low. The levels I am watching are $66.21, $68.76, and $70 on the upside, with $65, $64.12, and $63.99 below. Expected move is $62.31 to $69.21. The most likely outcome is bullish expansion if $66.21 breaks and holds, with the gamma flip still below spot. The risk side is that realized volatility is running above implied volatility, and the daily trend is still weak. DDR is balanced and stale, so it is not giving much of a signal either way. The idea would be long $66.14 to $66.56 after a breakout and retest,
$SPDR S&P 500 ETF Trust(SPY)$ As October wraps up, attention shifts to November and the year-end stretch. There's a chart showing the next three months have historically been far and away the strongest stretch for the stock market. With stocks having sold off into what's been a strong earnings season, this setup looks like it could line up nicely again. Chart via Stock Traders Almanac.
The letter from yesterday noted that as long as key supports held on any FOMC-driven spikes lower, the plan was to keep looking for areas to go long, and a push through the 7736 SPX level was flagged as bullish with a target at 7753. That setup played out. The 7702 entry never even needed to be tested. The session opened with a drop to a low of 7718.37, which pointed to strong buying interest. From there, price pushed through the 7736 level, consolidated, and then ran to a high of 7758.43, just above the 7753 target. It closed with a 0.3% move higher amid FOMC volatility, and after hours it is sitting right on the key 7724 support level. $Eversource(ES)$ _F Whether $SPDR S&P 500 ETF Trust(SPY)$