S&P Closing Low

[FSTP] [cm2023]( S&P Closing Low  Griff here with the Chart of the Day.  Another day of bond yields trending lower, except this time the S&P 500 Index (Ticker: SPX) closed lower.  As you can see in the chart of the day the Homebuilders ETF (Ticker: XHB) may have put a top in place today: [fstp] It is a classic RSI reversal with a bearish shooting star candle combo that signals a potential topping pattern. I like buying a Mar/Dec put calendar spread here …   Let’s Go!  - Bill  [Pit Profits] - DELTA STRIKE: GM Dec 29 calls closed for a 277% gain - DELTA STRIKE: VALE Dec15 15 calls closed for a 106% gain 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)  [fvix] The One Index I Think Will Take-Off In today’s Mid-Week update, we’ll cover: - The One Index I Think Will Take Off - The QQQ approaching 2 year highs - A Big Winner we closed - A Special trade idea [fvix]( [Click here to watch the video!]( - Mark  [power income, FPRI] A Great Time To Buy Insurance  Hey Income Hunters,  The mega bullish narrative continues with a belief that a Santa Claus rally is all but guaranteed.  In reality, the only guarantee in today’s “broken” market is that the pain trade, meaning the direction of prices that creates the largest losses, is usually the one offering the greatest probability of success.  Why is that the case? Well, thanks to years of policy makers spinning a false narrative, they have reconditioned investors into being more fearful of an equity market rally than a decline.  FOMO describes this condition best and we are at the tipping point of a FOMO blow-off top in the S&P 500.  However, the reality of option positioning shows today’s condition being similar to a circus performer on a high wire that doesn’t have any insurance …  [Take a look at the data here …](  - Bill  [logo, fpip, Profits In Pumps] How Do They Know Already?  Good Morning Shoppers,  I was hanging with my husband and brother-in-law and I just happened to mention that internet retail sales for the Thanksgiving shopping weekend were up almost 9% year over year.  We all commented how we were surprised people were spending more with inflation and all.  Then my brother-in-law says, “How do they know that already?”  I said good question.  They know it already because 85% of the top 100 online retailers use Adobe Analytics.  Adobe analyzes over one trillion online site visits and tracks the sales data.  That’s pretty amazing, I think.  Before we take a peek at the Adobe (Ticker: ADBE) stock chart I have a secret.  I know today is Wednesday but I still have access to Option Pit’s Cyber Monday deal and I can share it with you.  It’s one hell of a deal because you will save $200 on the Trading Desk Membership that is actually guaranteeing you an 80% win right out of the box.  [Check it out.](  The Trading Desk is one of our most popular memberships.  Mark and Andrew and the members have created such a fun atmosphere with education, daily live sessions with actionable trade ideas, and just an all around good time every day.  You would love it.  [Now you can go here to check out the Adobe (Ticker: ADBE) stock chart.]( - Licia  [AG] VIX and SPY Up – What Gives? From the Desk of Option Pit Director of Education Andrew Giovinazzi. The simple answer is VIX is very low, near 4 year lows. The bigger issue is, once again, larger headline news, GDP, and chirpy Fed Governors got stocks going this morning.  We had a .75% move up and not soon after had near .75% move down. [fstp] Intraday the range was close to 1.5% so that is more like a 24% realized vol. If the market orbits big but ends up unchanged on the day, does VIX stay elevated. Note the chart below of the 2 day SPDR S&P 500 Trust (Ticker: SPY). [fstp] SPY with 1 min candles and Dec, Jan and Feb sigma vols for 2 days Note how the short term sigmas are still elevated. No one has come in to sell options in the Dec15 cycle. That might change but as of midday it did not.  The market is still prone to “easing” speak coming out of Fed. As of now we have mostly held those levels. That still makes the spike move higher and keeps VIX from going to lower levels. I will explain the current VIX level in the OP Newsletter for tomorrow. Also, check out my Weekly Profits Cycles (insert)  coming back to Option Pit. - AG  [Glossary] There are plenty of terms in the trading world that need explaining. The Option Pit Glossary is here to help. Today's phrase is:  Dow Jones Industrial Average (INDU) - A closely watched index of 30 blue-chip, American stocks, including Apple (AAPL), IBM (IBM), Johnson & Johnson (JNJ), Pfizer (PFE), and Walmart (WMT). 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. Click the button below to schedule a call with our concierge Customer Care Team to find your best fit today. DISCLAIMER: FOR EDUCATIONAL AND INFORMATION PURPOSES ONLY; NOT INVESTMENT ADVICE. 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