More leeway for the Fed to finish the job with continuous 25 bps hikes over the year just as Powell declared this week
But careful since unemployment is a lagging indicator so even if the Fed did overtighten (I don't think this to be the case) it wouldn't be visible in the job market until 6 months later maybe.
Either way, overtightening is way better than undertightening and sitting on the edge
More leeway for the Fed to finish the job with continuous 25 bps hikes over the year just as Powell said this week
But careful since unemployment is a lagging indicator so even if the Fed did overtighten (I don't think this to be the case) it wouldn't be visible in the job market until 6 months later maybe.
Either way, overtightening is way better than undertightening and sitting on the edge
It's true, but this number is probably much hotter than J Pow was expecting. If we get another geopolitical event or something else that spikes inflation again, I could see some thinking they will tighten even more.
/ES down a point and a quarter now. That wall at 4200 was a good shorting opportunity, glad I took some SPY puts there. If we don't close around or above there I think we're going down again IMO.
Massive le resistance at 4200. Might be pretty risky, but AAPL puts for next week and even two weeks out are pretty cheap. If SPY has a bad week and retraces some, I like the looks of that gap at 145 on AAPL. But again, things have been to the moon, so I'm not throwing paychecks at this.
This is one fucking annoying market, holy shit. Had to close my puts for a loss earlier in the week and then now we nuke. At least NET did well, but this is just schizo stuff right now.
Re-entered some SPY puts today. If we don't recover overnight I wouldn't be surprised to see us trade 4000 on /ES, looking weak. But I've been wrong before on the short side so it'll probably hold 4080 somehow.