Hold on to your top hats, things are about to get bumpy. $VIX range expansion underway.

Watch out - USDJPY heading for multi-year highs. Remember that of all the G10 nations, Japan is furthest along the path of monetary experimentation. Daily - 3 x outside-inside and break to the upside. The triple outside bar is noteworthy as we can now certainly expect a range extension. Weekly - The weekly chart shows a continuation of the momo up condition. We will see how long this condition will last. Putting this out there as a possibility - but a re-test of the 200 pivot is a long term possibility and would likely be the result of a very large macro event.

GM Repeat after me - "Markets don't bottom on Fridays".

$JNK $HYG update You need to be paying attention to $JNK and $HYG to understand how the markets are pricing risk. They are both closing in on going outside month and down. 🔻 There are still 8 days remaining in the month and quarter. Will we trigger before the end of the month and quarter? Keep watching carefully. 👀 https://iris.to/note1xtmcxqs0h0psjccnxfak9ecl2pl57p9tya2875qrnjqk7s6c5stsgz4jnc

$TLT - long bond update. $TLT broke below last year's lows. Wild to see $TLT retrace all the way back to 2006 levels. ______ I posted the following over a month ago: https://iris.to/note1pn500p47g69779zzd8pg6uk64hn70s2dnlhtzmnwg88dkj9ur27stafx5a

Breakout. The US 2 year yield is trading at 5.12. Highest levels since 2006.

Kaching - thanks for playing. 🎰💸 Taking some profits here on the $ETHBTC trade before FOMC this afternoon. There's more downside possible but taking some chips off the table. #trading #btc #eth

$ETHBTC update. The long $BTC, short $ETH trade continues to play out. 💸 https://iris.to/note1gwqn2qc5tkl7v50wmw7ej6v6tlwj9crzw8uhlh95ntjl6prxxp4q4y9v0m

Markets always move slower than you want, but faster than you expect.

Top of the morning. ☕ 1370 here we come. Currently short a bunch of shitcoins and waiting to see how the market reacts to the macro news on Wednesday and Thursday as well as the potential supply coming from FTX.

Pay attention. The USDJPY and USDCNH are on the verge of new cycle highs. Say hello to the USD wrecking ball. 💣

Not enough people are talking about it. The high-yield bond ETFs $JNK and $HYG are both trading outside-inside on the monthly chart and consolidating at the precipice. If we see a break of last month's outside bar to the downside, watch out. 👀 This means that the market is expecting more defaults or lower recoveries from junk bonds, which could be caused by factors such as higher interest rates, a worsening economy, lower earnings, or more volatility, and drive investors into safer risk assets. 📈📉

Alright $VIX reclaimed the 15.45 level. Now watch to see if we reclaim the 17.30 pivots.

A truly fascinating sequence of price action is unfolding. On the daily chart we are trading within the range defined by the big down bar that was formed on August 17th. To the layman's eye, it looks like we are just chopping around, but we are actually trading at an inflection point that is precipitating a big price move. One way the chop is expressed in the price action is as a series of widening formations with higher highs and lower lows, which is kryptonite for traders using horizontal levels or previous pivots for stop losses. What usually precedes big moves are choppy periods that chop up the majority of traders who are jockeying for the next move but eventually capitulate before the big move happens. Once the move is finally underway, those left behind are forced to chase the price or fear missing out on the price action they so desperately wanted to be ahead of. Finally, take a look at the 1628 pivot. Notice how we've been chopping around this level? Zoom out to the 3M chart and you can see that 1628 is the reversal pivot on the quarterly chart - which has become a battleground for buyers and sellers. When the 1628 pivot gives way, we should see much lower prices. The major timeframes are all trading 🔴 so my expectation is that this period of consolidation will eventually resolve to the downside and we visit the 1370 pivot as I have noted previously on my feed. $BTC is trading in a very similar structure to $ETH, so I expect both $BTC and $ETH to resolve the consolidation in a similar manner. #BTC #ETH #trading #plebchain

As noted last week, the $VIX reversed and is now inching its way back up and tagged the 15 handle. Expect some more volatility ahead as we come back through the range. https://iris.to/note1g08rd2q7wfeeas99mqjuclry8qn4m8ngg8rqx4xqyyjyraw6s64q6kf6yp

The $VIX is setting up for a snapback rally and could be setting the stage for a volatile September. #trading #plebchain

Looks like Ideogram has made some serious progress in cracking the AI text-generating code. https://ideogram.ai/api/images/direct/ZexKKAgiTRqX_gt89btqfg

If the US 10 YY breaks over yesterday's high then the 4.206 is the next likely pivot in play. Pay attention to what this could mean for the broader market if the market follows this pivot.