January 09th, 2024

We had a blockbuster day yesterday with RUT finally pulling its weight. Our event contracts 0DTE was fully profitable and we booked partial profits on our SPX/NDX 0DTE's with the call sides rolled and looking great to start the day. NVDA was our main pain point yesterday. Futures are down this morning after yesterdays rebound. It was enough to swing technicals back to bullish. 

Treasury yields sapped the demand for risk assets and investors are bracing for key U.S. inflation data later this week and then we'll get back to earnings season on Friday. We've had a lot of luck with our earnings trades so I'm excited to get back on those. Fed's Bostic spoke and we are on track for 2% inflation but US futures are only looking for a 4.7% chance of  a Fed cut at the next central bank meeting in Jan. a 55.4% chance in March. 

SPX and NDX turned positive for the year yesterday:

Everything was bullish, save energy. 

I would call our current position "neutral". Carry through today by bulls would tip up back bullish. 

Intra day levels for me: 4803 (critical for bulls)/4814/4826/4836 to the upside. 4770/4755/4748/4734 to the downside. 

Trades on our docket today: 0DTE on SPX/NDX, Event contract 0DTE, NVDA?, ORCL, PFE, QQQ/SPY combo, RUT, SHOP, Pairs trade, Insider trade, BA dragon fly.