On the 5-minute chart, this contraction should resolve within the next couple of candles. The key levels here are the 757.55 lower 15-minute ORB, PML at 757.69, 20 SMA at 757.84, and lower daily EM at 757.92. Bulls need a break above 758. Bears need a 5-minute close below 757.55, then confirmation for a signal that $SPDR S&P 500 ETF Trust(SPY)$ could head lower. The lower wicks on the candles show price is being defended by buyers. Volume has increased, which points to positioning for the next session.
$SPDR S&P 500 ETF Trust(SPY)$ The market is down, but statistically there is a decent chance of a bounce on 9/11, since market makers tend to commemorate that day. Even around midterms, the market has usually been up.
$Lexicon Pharmaceuticals(LXRX)$ Citi webcast takeaways: execution looks disciplined, with less emphasis on hype. 1. T1D NDA for Zynquista is targeted for a Q4 submission. Exton confirmed the Steno-1 exposure hurdle was hit in late August, saying the data is done and they're preparing it to get ready to submit. DKA rate came in lower than inTandem and similar to standard of care, which meets the risk-benefit criteria FDA has laid out. 2. HCM North Star is tracking toward Q1 '27. SONATA-HCM over-enrolled past 500 patients across 130+ sites, with a broad EF range and a unique background CMI cohort. Management framed a +3-pt placebo-adjusted KCCQ delta as a commercial home run. 3. Capital discipline on pain: Pilavapadin (LX9211) won't drain cash
$Intel(INTC)$ Market makers are still accumulating shares while trying to keep the price from jumping, which is why Trump posted it. He's literally trying to burn every short.
$SPDR S&P 500 ETF Trust(SPY)$ I'm still bored enough that it's almost painful, but there's no point rushing the October grim reaper. It won't be long now. Cash is hungry, though it's also almost ready to feast.
$Intel(INTC)$ At $500B, this stock looks ridiculously undervalued. It is the only company in the world with both leading AI design and manufacturing capability, and those are the biggest bottlenecks in the AI tech stack as models become more powerful and commoditized. It should be valued at $1T or more. I think this market misalignment gets corrected within the next 6 months.
$SPDR S&P 500 ETF Trust(SPY)$ I'm bullish, but I've been around long enough to know September, and how to play 0DTE puts for the day. Can't turn down 140% gains.
$SPDR S&P 500 ETF Trust(SPY)$ My day trading futures account went from down 3k over 4 months to up 2k in 8 days. That's a 5k swing in just over a week. Now I'm moving it into long term tech stocks.
$Intel(INTC)$ The news that the government will keep holding Intel until 2028 is enough on its own. That already points toward a one-way move for the share price to reach $200. The stock was already worth 1 trillion after Q2 earnings. The only reason it is trading at these levels is the supply overhang concern, which feels overblown. Trump is not going to sell a national security position while China is pressuring Taiwan.