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08/10/2018 Live Update

Re: 08/10/2018 Live Update

Postby Cobra » Fri Aug 10, 2018 12:06 pm

the pullback may indicate the best bears can have today is just a range.
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Re: 08/10/2018 Live Update

Postby Clueless » Fri Aug 10, 2018 12:21 pm

Bears are annoyingly very weak. You just don't see the smooth price action with bears like you see when bulls are in control. When it comes to bears, it is always back-and-fill. Rarely do you see a smooth steady drop on bearish days like you see on bullish days. Bearish days are constantly being interrupted with crazy big bounces. Unbelievable!
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Re: 08/10/2018 Live Update

Postby Trades with cats » Fri Aug 10, 2018 12:49 pm

Clueless,

Never ever forget that this is not an equal race. The strongest stocks in the strongest sector have almost a trillion dollars (according to Goldman) that they are using to prop up the price of their shares. I make fun of Cook and the boys but it is graveyard humor on my part. The reality is you are seeing the effects of that money being deployed with the sole purpose of increasing the price of the stock.

But we saw in the first quarter that when the tide goes out buybacks aren't enough. For now the bears are playing conservative and saving themselves for what is coming. The Fed has never ever succeeded at what they are doing without crashing the economy. Seeing how it is an institution run by a committee then there is no reason to expect a different outcome this time. You know the Einstein quote.

When the Fed succeeds in bringing everything crashing down the top executives and the board members who are approving long term debt for buybacks will walk away rich. It is everybody else that will pay the price when their company turns into a smoking wreck for the asset strippers. I have seen it twice where I live and it wasn't nearly as blatant as in today's world.
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Re: 08/10/2018 Live Update

Postby Trades with cats » Fri Aug 10, 2018 1:11 pm

ES 09-18 (5 Min Volumetric) 2018_08_10 (11_07_24 AM).png

The bar statistics grid is color coded. From top to bottom
Trades
Volume
Buy Volume
Sell Volume
Delta Bar
Delta %
Cum Delta
Min Delta
Max delta
Delta Change.
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Re: 08/10/2018 Live Update

Postby Trades with cats » Fri Aug 10, 2018 1:20 pm

The lines on that chart are a 20 EMA solid cyan, RTH session VWAP red and blue dash dot, RTH median price turquoise and dark red dash dot. Horizontal dotted lines in grey blue, gold and grey blue with a value on the far right are the POC and 70% value range for the days volume profile.
This is a fun toy with a lot of settings. Try it out for free, but the background order book only works in real time.
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Postby MrMiyagi » Fri Aug 10, 2018 1:22 pm

Range day till Range breaks. I'm going to guess BEARISH as chickens take what profit is left into the weekend, we haven't had a TARIFF tweet from fat Trump in a bit, so I can guess something right after the close could happen.
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Re: 08/10/2018 Live Update

Postby Trades with cats » Fri Aug 10, 2018 1:23 pm

Friday humor from twitter feed-
Two Quotes of the Year: "Greatest Economy Ever" - Trump & "Fully Funded" - Musk :lol:
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Postby MrMiyagi » Fri Aug 10, 2018 1:46 pm

Capture.PNG
thxfatso
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Re: 08/10/2018 Live Update

Postby Daniel » Fri Aug 10, 2018 1:53 pm

Naz 100/QQQ decisively breaking the LOD... SPY iffy... IWM holding grn.

Update: SPY less iffy... an upthrust here would have to be labeled a "reversal".
..IWM now red, basically flat on the day.
Last edited by Daniel on Fri Aug 10, 2018 2:04 pm, edited 1 time in total.
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Re: 08/10/2018 Live Update

Postby fehro » Fri Aug 10, 2018 2:03 pm

fehro wrote:as per yesterday… buckle up..Bonds and VIX strong again.. TRANsports not pretty.. mind those 20d 50d SMAs
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Re: 08/10/2018 Live Update

Postby Cobra » Fri Aug 10, 2018 2:05 pm

fib 61.8% mm possible.
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Re: 08/10/2018 Live Update

Postby Trades with cats » Fri Aug 10, 2018 2:11 pm

ES 09-18 (5 Min Volumetric) 2018_08_10 (12_06_52 PM).png

You can see the four big red candles where sellers crossed the bid ask, and corresponding big red circles for large lots of 30 contracts selling. You can see the buyers getting in line at the EMA. If this was due to China news then it will probably be retraced before the close. But I think Turkey complicates things.
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Re: 08/10/2018 Live Update

Postby Trades with cats » Fri Aug 10, 2018 2:18 pm

Sorry mean to say sellers getting in line.

IF you don't trade futures it is first come first served and in a thin market your limit order can easily not fill. Your market order can get what is politely called a toxic fill.
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Re: 08/10/2018 Live Update

Postby Trades with cats » Fri Aug 10, 2018 2:33 pm

ES 09-18 (5 Min Volumetric) 2018_08_10 (12_30_36 PM).png

That last bar was ugly. Selling triple buying and triple prior bar. Could be the end of the drop.
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Re: 08/10/2018 Live Update

Postby Daniel » Fri Aug 10, 2018 2:35 pm

IWM is holding above its 15min 200ema. This rising MA has not been breached for more than an hour for many days. The level would be ca. 167.50 and price is currently just above that.
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Re: 08/10/2018 Live Update

Postby Trades with cats » Fri Aug 10, 2018 2:42 pm

From Coolbiz on twitter half hour ago
SPX has completed 1st leg down to 2828.58 from 2863.43. -35 points, expect a retrace to 2845-2850 area by Monday. Was an awesome day in ES shorts and SPX 2850 puts, multiple trades.

11:11 AM - 10 Aug 2018
and 12 minutes ago-
appears to need another lower low yet?

11:27 AM - 10 Aug 2018
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Re: 08/10/2018 Live Update

Postby Daniel » Fri Aug 10, 2018 2:44 pm

QQQ holding at around -1% on the day. NYSE up/down vol and a/d breadth is steadily quite bearish. Intraday momentum trackers show mild downtrend readings.
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Re: 08/10/2018 Live Update

Postby Trades with cats » Fri Aug 10, 2018 2:48 pm

No way would I hold long over the weekend until Turkey gets resolved. Could be like the Greek crisis with Central Bank pressers on Sunday nights sparking straight up moves with gap and go in New York followed by steady selling. Or, the good old days. :D
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Re: 08/10/2018 Live Update

Postby Trades with cats » Fri Aug 10, 2018 2:56 pm

ES 09-18 (5 Min Volumetric) 2018_08_10 (12_54_56 PM).png

Looks like it is over for now.
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Re: 08/10/2018 Live Update

Postby Trades with cats » Fri Aug 10, 2018 3:05 pm

Sellers came back when the bulls could not clear ES 2831. Lots of buyers to slow the drop, especially ES 2825. IF the double bottom fails.
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