10/19/2016 Live Update

[Daniel]

EWZ lod. While FXI, EEM hod.

The odd, or rather indifferent, correlations continue. Or as they say: sector-pickers market.

[Cobra]

C&H, bias is up.

[Daniel]

XBD, FAS fresh hod.

These key sectors had been headwinds for the broad market.

SPY holding for several hours now above its 15min 200ema, for the first time in a few days.

[Out of Bounds]

Overall market breadth. Nothing but BULL all day.

[Eddie]

Taken a long time for ES to get back to 2141 resistance. My guess a look above and fail. We'll see.

[Trades with cats]

Oil sucker rally. Clipper data reports crude imports fell almost a million barrels a day last week as we hit peak refinery shut down. Imports still managed to be above last year at this time. Gas demand dropped hard compared to prior week explaining inventory build in spite of refineries offline. I am guessing the big trading firms are supplying contracts to the hedge fund and retail crowd on behalf of their shale drilling clients. Bonus Question- Can you spot the fall refinery shutdown period?

[Daniel]

Oil sucker rally.
Bonus Question......

-What was the main question..?



Meanwhile, here is another question: Why are some of the key solar companies up 4 even 5% today? The USO etal rally explains only about half of that. Is it solar seasonality time? Was there legislation. Some of those stocks are quite beaten down, they may have strong recovery moves in them.

First Solar for eg. is a beast today, up >5%. It's not earnings-- I know that comes out in Nov.

[Daniel]

Overall market breadth. Nothing but BULL all day.

--And yet, intraday CMF today is tepid, probably best described as mildly negative. This dovetails w what I posted earlier..

=> On two separate (tho correlated) indicators, measuring Chaikin Money Flow, at the close yest. SPY put in a multi-month low. This, despite price itself being nowhere near a multi-month low.

The same is true today for IWM, MDY, and most of all QQQ-- which despite being flat in price shows steep negative readings for every 15min bar. This looks like possibly a pattern of slow steady distribution into a gradual price rise, across the markets.

[Trades with cats]

Market is up, threatening to ignite a short squeeze. It seems to be like all the pros know when the lions are making a kill they all circle around for the remains. Which is to say I am guessing the solars are high beta with large shorts. Or they could be up on some political news as their existence depends totally on government subsidies and state utility regulators.

[Al_Dente]

In 1998 AAPL stock was less than $1 per share (split adjusted)

[Daniel]

Up/Dwn vol still very bullish NYSE.. and now better, but still weaker on Naz

[Daniel]

...the solars are high beta with large shorts. They could be up on some political news, as their existence depends totally on government subsidies and state utility regulators.

Thx. Whatever the catalyst, they are notorious for trading on sentiment, and can have amazing percentage-runs when something ignites them. They are excellent for trading on pure sentiment and momo indicators, since their future earnings, as stated above, are so iffy.

[Cobra]

the pullback would be bought again.

[Daniel]

Naz advancers, hod!

[Out of Bounds]

Naz advancers, hod!

All measures of breadth are at new highs right now. It's rare (lately) for all of them to push to new highs at the same time.

[Daniel]

Naz advancers, hod!

All measures of breadth are at new highs right now. It's rare (lately) for all of them to push to new highs at the same time.

IWM, XRT many sectors to fresh HOD.

SPY is stuck, flatline.

[Out of Bounds]

Naz advancers, hod!

All measures of breadth are at new highs right now. It's rare (lately) for all of them to push to new highs at the same time.

As soon as I wrote that, I got a sell warning. It doesn't mean to sell but it does mean to watch for a topping process. I usually start to trim positions when I see this. (and I would except I am short )

[Daniel]

Naz advancers, hod!

It doesn't mean to sell but it does mean to watch for a topping process. I usually start to trim positions when I see this.

Likewise with the non-confirming Chaikin Money Flow readings. Price pays, but.. distribution eventually erodes the support for price.

[Out of Bounds]

Rollover but in perspective, not much of one so far

[fehro]

weak… 20w again 2144.10