Welcome to the second half of 2023. If my self-confidence and excitement were measured by way of the VIX, it would probably be at 3.12 right now. Take that for what you will. Pre-market, on this holiday-shortened trading day, the /ES has been slumbering around all night and day in a tiny ten point range.
One market that actually has a pulse is crude oil, which has spiked higher thanks to yet more reductions in supply from the bone-saw-lovers. Yes, high energy prices should do wonders for the economy as well as inflation data.
For the sake of my beloved son, I’m pleased to see TSLA rocket up yet again. Hey, at least ONE member of the Knight clan can be a roaring financial success, right? I’ll take what I can get.
Although I’d point out that, on a weekly bar basis, TSLA is still locked in to a series of lower highs. This doesn’t look good, actually, for Tesla fans longer-term.
In times when I wasn’t feeling mashed to an absolutely pulp, I would be giddy about how the /ES looks right now. I remain exceptionally light, however (12 positions) and am considering taking away ALL my cash to get even lighter. I’ve got to stay involved in the markets, however, since not to do so would be the equivalent of me starting up a website about the experience of being pregnant.
