Market Report Nothing can stop the rally
By Todd Horwitz on Jun 13, 2021 at 7:52:37 AM ∙ Comments

 Market Report Nothing can stop the rally

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Todd Horwitz Chief Strategist BubbaTrading.com

Be Prepared not Surprised.

As we have been writing for the last few weeks the markets are going to new highs. Last week the S+P achieved new highs while the Russell and Nasdaq were close. The Dow is the weakest but still in an uptrend. These quiet complacent conditions should continue to lead the markets higher.

This week the FED makes its decision on interest rates and there is virtually no chance that they will change their cheap money policy. It is obvious that they are clueless or hiding something with the same old story on transitory inflation. The CPI numbers indicate the FED is wrong.

Call buyers continue to lead the pack while selling naked puts is gaining momentum which knocks the VIX lower. Although the VIX is trading at 15 the action indicates its around 10. With the bullish positioning of selling Put spreads, covered calls and call spreads indications are the markets will continue higher.

The rally is being led by AMZN, AAPL, NIO, TSLA and TLRY which are tech and pot. Although there is little bearish action there are a few symbols being pressured. SPY, IWM, MSFT, NDX and BIIB. Interesting that there is bearish action in SPY and BIIB both making new highs last week.

As traders and investors, we have one thing to remember, follow the trend of the market. Be patient disciplined and leave your emotions out. The most important thing to remember is money management and self-control. 

Todd “Bubba” Horwitz

BubbaTrading.com



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