Top 10 Charts (Options Trading, Nasdaq, Tech)
In case you missed it: Nasdaq Indexes post worst weekly decline since March. pic.twitter.com/zlCXIVgSZv
— Holger Zschaepitz (@Schuldensuehner) September 5, 2020
A near-record % of NASDAQ 100 stocks are overbought (RSI > 70).
In the past, this ALWAYS led to a stock market pullback over the next 2 weeks.
Looking at the past few years more closely, this occurred near the market's top in January 2018 & January 2020 pic.twitter.com/tPgSsfDsJh
— SentimenTrader (@sentimentrader) September 3, 2020
A Week Like This Was a Long Time Coming for Day-Trader Faithful – Bloomberg
*Two-day Nasdaq 100 sell-off reached more than 10% at a point
*Link:https://t.co/RcHHiHgRhh pic.twitter.com/UUC6V7kTq9— Christophe Barraud (@C_Barraud) September 5, 2020
Why all the call buying in turbo beta stocks? Here's why pic.twitter.com/bZu2oi0k65
— zerohedge (@zerohedge) September 4, 2020
That FT article (following @zerohedge) on Softbank suggests the fail whale bought "billions" of call options.
The real story is that Softbank is dwarfed by retail traders, who spent $34 BILLION in call premiums in a month.
Unless Softbank cuts its orders into 10-lots, that is. pic.twitter.com/zGAgf9WcTQ
— SentimenTrader (@sentimentrader) September 4, 2020
‘What just happened?’ ask bruised #tech investors – FT
*Link: https://t.co/aIwev7Yc8A pic.twitter.com/SlxdwAz9PP— Christophe Barraud (@C_Barraud) September 5, 2020
Options Traders Whipped Up Stock Boom With SoftBank Buying – Bloomberg
*Link: https://t.co/un2Q5ffbt7 pic.twitter.com/0BLC9X2Efv— Christophe Barraud (@C_Barraud) September 5, 2020
The most critical Equity chart I'm watching (updated from Aug 26):
"If/when Vol breaks higher, be ready for a Major change."$NDX Volatility with a Major breakout in progress.
Potential Target range remains significant – IF correct, the move may just be starting. Stay nimble. pic.twitter.com/4VOc2H3bws
— Macro Charts (@MacroCharts) September 4, 2020
Combined market cap of FANGMAN (Facebook, Apple, Netflix, Google, Microsoft, Amazon, Nvidia) has lost $636bn within 2 days, almost equal to GDP of Switzerland. pic.twitter.com/iXDzEmTFF8
— Holger Zschaepitz (@Schuldensuehner) September 5, 2020
Q-RAZY: $QQQ broke its all time volume record today w/ $32b and came closest to reaching $SPY's volume since dotcom days. Meanwhile $TQQQ set the all time volume record for a levered ETF w/ $9b while $SQQQ saw $5b (by far a record for it) all ON THE FRIDAY BEFORE LABOR DAY WKND.. pic.twitter.com/XHysP22w2E
— Eric Balchunas (@EricBalchunas) September 4, 2020