Market analysis for Jun 14th, 2024

6/14/2024

Welcome to Friday folks! Yesterday ended up being just o.k. for me. We had the BTC 0DTE that couldn't have been closer to profits but just missed. That plus a poor scalping result and not getting enough capital into the other 0DTE's hurt my overall result. Still...green in green and not every every is a home run day.

The markets are still flashing buy.

But, there's a widening cavern bettween the NDX and SPX which are holding at ATH's and the IWM and DIA which are still lagging below their 50DMA.

Futures are weak in the pre-market.

Our trade docket for today is heavy and a little different from most Fridays where we are normally just de-risking positions and getting buying power in place for next week. We finally have some premium to work with and so it's important to get back to our normal business plan:
/MCL, /HG, /ZN, GLD, DIA, ORCL, IWM, CRM, PYPL, SHOP, WYNN, ADBE, RH, BA, DELL, 0DTE's, NVDA, SMCI, XBI, PLTR.

My bias today is neutral. We've got bullish technicals with lower futures and the IWM/DIA continue to drag on the SPY/QQQ.