John Carter Futures Review

We open this week's analysis with a look at the Nasdaq. Over the last few days the QQQ has been pretty volatile on an intra-day basis, and an upside breakout is seeming increasingly likely. AAPL has by and large led the market since the conference earlier in the week, and as the 100 level in AAPL was regained the QQQ did begin to stabilize. The Yen has been getting destroyed, which is a major risk-on indicator, another green light for stocks. Interestingly, the TLT has been getting sold off indiscriminately, even during periods when stocks are getting sold. Selling put credit spreads on Netflix look good, specifically the 475/470 spread. Everyone is watching GPRO, and here puts are interesting as implied volatility implodes. Longer term November call options on KO are still hanging in there, as well for CHRW. BIDU continues to consolidate, offering a nice opportunity to sell puts. FSLR is a name with a nice base on the weekly chart that looks opportune to sell front month puts and buy back month calls for a weekly squeeze.

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