VIX drops to another 30 day low

Option Pit Stop [fstp, logo, header] May 12, 2024 [volman, vol man, vol,] VIX drops to another 30 day low Hey OP Crew, This week's edition of [VOL MAN]( has been posted to the website! Hop on over to see what I think you need to be aware of heading into this trading week. [Click the vol man below to head on over.]( [vol, vol man, ag]( - VOL MAN  [logo, pit profits] Want to find YOUR winning fit? Give our Customer Care Team a call at [1-888-872-3301](tel:/1-888-872-3301) Monday-Friday from 9 a.m. - 5 p.m. EST. Or email them anytime at [support@optionpit.com](mailto:/support@optionpit.com)  [logo, fvix, header,] Quiz Bowl and CPI Hey Traders, In today’s video: - we’ll do quick rundown on what I think is happening with CPI - Quiz Bowl [ded]( [Click here to watch the full video!]( - Mark  [frep] Chart of the Week: Alcoa Corp (Ticker: AA) Hey Traders! Happy Mothers Day to all the moms out there! Our readers have been reaching out to us requesting more chart break downs with Licia. So, we have a new series that we're kicking off this week with Licia's "Chart of the Week" This week's chart is [Alcoa Corp (Ticker: AA)]( [yt]( [Let's dive in here.]( - Mark  [fpri] Why Powell is NOT Fighting Inflation Hey Income Hunters, Last week Powell had a chance to shut down inflation quickly … When US Bank regulators seized Republic First the FDIC reported that the failure would cost the FDIC’s insurance fund $667 million … All Powell had to do was say Republic was sold but there will not be any more bailouts to backstop investor withdrawals of deposits.  That announcement would have started a bank run on deposits as depositors realize their deposits may no longer be “safe” if banks are not bailout. This in turn would cause banks to sell over $4 trillion in USTs and MBS they hold likely at losses, cutting back on lending and slowing down economic activity and with it inflation … Why did Powell admit inflation will stay stubbornly above their 2% target but not admit the Fed will come to the rescue of the banks for good? [Click Through to find out …]( - Bill  [fpip] The Pitchfork Proves Itself, Again Hi Shoppers, Yet again, the pitchfork proves itself. Check it out on my S&P Emini Futures (Ticker: ES1!) chart:  [ded]( Not watching the Emini futures? Well you should be as they trade longer hours than the SPX and SPY thereby creating a much nicer chart to analyze, you don’t get as many gaps. So if you joined us on our OP Live Friday morning broadcast at 8:30 ET, you would have known to watch that $5265 level when I said that would be resistance. Sure enough, ES1! traded $5264, couldn’t break out over it and rolled lower over $30. Now the question is where do we go from here? Friday’s price action created a shooting star candle which begins with the bulls in control, creating that long upper shadow or wick, but at a price level (my resistance at $5265) they lose that control and the sellers enter the market. That candle combined with the pitchfork resistance tell me we could have a pull back here. We also have two very important inflation reading statistics being reported this week; the Producer Price Index (PPI) on Tuesday and the Consumer Price Index (CPI) on Wednesday, at 8:30 AM ET. These are two numbers the Federal Reserve watches to gauge inflation and determine where interest rates should be. And as we all know, the stock market watches what the Fed is doing very very closely. Could be a crazy week. [Here’s a trade idea playing the market lower.]( - Bill  [fprm] Frank Does Sof Week Hey Insiders, Frank was out on assignment this week for Sof Week 2024. He's been sending updates that he wanted to share with everyone. [ded]( [Check out this YouTube short featuring Frank at Sof Week]( - Option Pit Team Don't miss when our traders go live! Get an alert everytime we open the live rooms to all of our readers for free by selecting the calendar you use below. Add Option Pit Live Events to Your Calendar [Apple]( [Google]( [Outlook]( [Outlook.com]( [Office 365]( [Yahoo]( [glossary, logo] There are plenty of terms in the trading world that need explaining. The Option Pit Glossary is here to help. Today's phrase is:  Protective put - A long put bought against stock or another financial instrument. The put in this case is a hedge against adverse market conditions. [ftsp] All the Right Options. The Option Pit Team brings more than 150 years of experience to you every day. From the trading pits of Chicago to the world's largest banks to the halls of power in DC -- they've done it all. Now they’re collectively focused on one thing: making YOU a better, more profitable trader. 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