05/23/2018 Live Update

[fehro]

Resistance. add some SPY P lottos Fri Exp to /ES short position from y

a tad early.. may stall here at next resistance

[Trades with cats]

Don't forget a week ago Tuesday with those three wild moves. Maybe after FOMC notes market goes bi-polar again.

[Al_Dente]

AD favored bears 3x on the open, now they’ve gone and given it all back
oy…….
NY declining stocks = 1.1 x advancing stocks (that's chop, range)
NY declining volume = 1.3 x advancing volume (that's not enough for bears)

[Cobra]

if bears rule today then here's the place they act. break through would mean today is anything but downtrend day.

[Cobra]

OK, bears are doing something as should be. Now I'm hoping for possible higher low.

[Al_Dente]

new home sales came in lower than expected
so XHB and ITB rally

[MrMiyagi]

EIA Inventory not helping. Let's see if it reverses or not.

texas tea

[Cobra]

by the way, about short. you could short here (viewtopic.php?f=2&t=2890&p=254580#p254580) as it's the common place where bears would take actions. The stop loss would be close therefore good risk reward ratio. The chart pattern at that time certainly didn't favor bears because rebound was sharp so the only reason to short was the stop loss was close which equals to betting your luck. Yeah yeah yeah, I know every trade is betting the luck, I just don't like the feeling that I'm betting on my luck...

Now, can you short? Since the target is the day low and the stop loss is now far above so the risk reward ratio is bad now (1 at the most, normally I prefer 2), therefore I'd think twice here.

[Al_Dente]

EIA Inventory not helping. Let's see if it reverses or not.

Capture.PNG

thanks boss
that explains the drop in oil a few moments ago
if oil ain't happy, ain't nobody happy (?)

[fehro]

/Cl days of supporting market coming to an end, will play catch up with the dollar… /CL daily wedge.. loose this support are 70.19 look to 20d 70.19 then 50d 67.14 then wedge target 66.50.
buckle up.

[te_fern]

5 Min oil futures...

[fehro]

Resistance. add some SPY P lottos Fri Exp to /ES short position from y

a tad early.. may stall here at next resistance

LOD's go start to look to 20d/50d SMA tags on the indexes

[Al_Dente]

AD favored bears 3x on the open, now they’ve gone and given it all back
oy…….
NY declining stocks = 1.1 x advancing stocks (that's chop, range)
NY declining volume = 1.3 x advancing volume (that's not enough for bears)

NY declining stocks = 1.3 x advancing stocks
NY declining volume = 2.4 x advancing volume ...........selling volume wakes up

[Cobra]

testing day low, key time. The tinted area is just a dream for now.

[Trades with cats]

Hedge Fund agony. They are long FANGS, Long oil Short 10 year. IF Fed starts backing off and 10 year has a short squeeze rally it will be the trifecta of pain for the smart guys.

[Trades with cats]

Overnight POC meant nothing. My next market is the overnight low 5 points lower.

[Al_Dente]

one of the "WHY?" headlines
"Wall Street drops as Trump fuels uncertainty over trade talks"

[1der]

SPY Pbar update - 271.93 was a PBar "below" price PBar when it showed (hope that makes sense ). This morning SPY gapped over and below this PBar but then came back up to "fill it"
Now we are floating above and below the previously filled 271.16 PBar level. The day pattern so far looks similar to 5/21 regular session. All fwiw - I guess i am trying to fill my time rather than force / get sucked into a trade someplace.

For your amusement / feedback welcome / I am interested in how these PBar levels compare with/play into the incredible analysis done by some here :

[1der]

testing day low, key time. The tinted area is just a dream for now.

Cobra - your dream looks very close to the 269.70 PBar level I have.

[Trades with cats]

Does anybody look for Gartley Butterfly patterns? Bound to be some in here somewhere.