VXX could not hold the days lows

Option Pit Stop [fstp, logo, header] July 31, 2024 [ag views, logo, header] HVXX could not hold the days lows Leave it to Fed Chair Jerome Powell to make a mess of a perfectly good nuts rally. The Russell 2000 ETF (Ticker: IWM) was up $5 then down $5 in about 3 hours. Oh my gosh. Mark and I will talk this Friday but the Barclays iPath VIX short term ETN (Ticker: VXX) is a pretty good proxy for the “heartbeat” of the market right now. VXX peaked at $49 yesterday but could not hold the lows below $45 today. [ded] If VXX makes new lows for the week, $44.5 or less, that should signal higher stock prices. Post-Jpow things are always nutty but they tend to settle down. Watch for it. - AG  [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,] Fed, Non-Farms and Earnings Hey Traders, In today's video, we'll cover what we expect for the fed, non-farm payrolls and earnings [ded]( [Click here to watch the video!]( - Mark --------------------------------------------------------------- Want to get Mark's Trader's Edge updates directly to your inbox?[Click this link to sign up!](  [fpri] Janet Yellen’s Stealth QE Hey Income Hunters, Janet Yellen has been engaged in “Stealth QE” the likes of which are equivalent to a 1% drop in interest rates by the Fed … Now, we have been discussing Fiscal Dominance as one reason the economy and markets have not already crashed … Fiscal dominance refers to the fact that the Fed must print trillions just to pay bondholders interest in Treasury Bonds. So, the much larger interest payments to baby boomers, who are by far the largest portion of the population, have given them additional money to spend into the economy … Well, now Janet Yellen has found another way to inject liquidity into the markets and this adds another ~$800bn into them. This is obviously something we aren't hearing about but it is real and may even grow further … [Click through for all the gory details …Â]( - Bill --------------------------------------------------------------- Never miss an edition of Bill Griffo's Power Income Newsletter ever again. [Click this link to sign up!](  [fpip] Earnings Price Targets for META & AMZN Hi Shoppers, This market has been pretty pretty wild. With some big earnings announcements coming and the Fed Wednesday, it ain’t over. First up Microsoft (Ticker: MSFT) just had their earnings report and the stock has tanked: [ded] It is currently (Tuesday night) trading down $25 right to my pitchfork support level! Meta Platforms (TIcker: META) earnings are coming out Wednesday after the close. Here are my pitchfork targets: [ded] As you can see, META has giant earnings moves. On the downside, my first level of support sits at $435 and below there $347. Should they love what they hear, resistance is at $525 and $548. Amazon (TIcker: AMZN) reports on Thursday after the close. Here are my levels: [ded] The cross of the red median line and the blue support line is a perfect target price on the downside at $168. Should it rally, resistance comes in at $190 and $200. Earnings are very difficult to predict but Mark Sebastian and Andrew Giovinazzi know exactly what is going on with volatility. [They have a way to trade volatility that will double in six weeks. Check it out.]( [After that I have a new trade idea for you in Chipotle Mexican Grill (Ticker: CMG).]( - Licia --------------------------------------------------------------- Join Licia's trading community and start receiving her Profits In Pumps Newsletter. [Click this link to sign up!](  [fprm] A Run for the Ages Hey Influence Traders, If you’re a political junkie like me … it’s been a wild week! There was an election in Venezuela. In the name of democracy, President Nicolás Maduro had the military shut down polling stations because … he was losing. In the end, he won. As the old saying goes, socialism is easy to vote in but impossible to vote out. Fortunately, nothing like that happens in the U.S.! If doesn’t, right? Sure, we have a Dem nominee for president who received the exact same number of primary votes as me … ZERO … but who’s counting? Sure, we have a sitting president advocating for the destruction of the separation of power in the country … but who’s watching? As I always say – election season is the greatest circus on earth. And this one is lining up to be EPIC! The Dem machine is throwing its full weight behind the nomination of Kamala Harris. She’s picked up every marquis endorsement, including from the Obamas. She has reinvigorated a lackluster Dem voting base. Polls that had been favoring Trump, particularly in battleground states, have reversed. And she quickly raised over $200mm in funds … a truly remarkable take. Unless something wild happens in the next few weeks, Harris will be the Dem nominee. While she has not laid out much of a platform, it is shaping up to be a continuation of the Biden agenda, particularly regarding turning the economy green. Meanwhile, Trump has been forced to pause and revamp his approach to the new Dem headwind. One group that has embraced Trump is the crypto crowd. He spoke at the Nashville crypto conference this past week. He vowed to fire SEC Chair Gary Gensler and to make the U.S. the “crypto capital of the planet and the Bitcoin superpower of the world.” It could be a good strategic move. RFK Jr. is the crypto bro’s favorite politician. If he finally drops out of the race, some believe that he might endorse Trump. That would help Trump with some groups that might otherwise sit out the election. Let’s do an election rundown and look at some stocks that favor the two candidates. [Trading Candidate Momentum.]( - Frank --------------------------------------------------------------- Get all your DC Insider info inside of Frank Gregory's "Power Moves" Newsletter. [Click this link to sign up!]( --------------------------------------------------------------- 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:  Skew - The difference in volatility per strike for an option. Black Scholes wants 1 volatility for all strikes, but adjusts strike volatility to compensate for the assumptions in the Black Scholes model. 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