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well, looks like it was just a vacuum up now vacuum all the way down to day low. typical range day behavior.
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fehro wrote:resistance.. possible.. VIX fills morning gap now too SPX 20d still key 2276.84 * Triangle starting to form on the 5m if we head back down to 2274
SPX 20d goes, and 2274ish… look out below could see sharp drop.. triangle target 2253ish - 50d SMA
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Pivots showing some mussel today. ES paused on the down and now pausing on the way up in the pivot zone.
The legend (and it seems to make sense to me) is that the floor traders calculated the days pivots first thing in the morning so they all had those numbers to watch for. When they started programming computers the programmers asked the traders what they did every day thus floor pivots are deep in the legacy code of all the co-located boxes in Mattawan.
vacuum all the way up. don't know what to say, it's range day.
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fehro wrote:resistance.. possible.. VIX fills morning gap now too SPX 20d still key 2276.84 * Triangle starting to form on the 5m if we head back down to 2274
SPX 20d goes, and 2274ish… look out below could see sharp drop.. triangle target 2253ish - 50d SMA
Oil and Stocks conspiracy time. If you think the investment banks were front running their corporate clients as they bought back shares for the run up into earnings (Tim Cook repurchased 4 1/2% of Apple outstanding) then you would expect that they will be quietly selling and looking for their next opportunity. Well Oil has reached the point we all knew was coming where the optics on inventories look really bad. So IF you can panic a few fund managers and the price starts dropping there is plenty of time for some real carnage before demand starts firming up for the summer drive season. Just say'in.
ES seems stuck in the middle of nowhere. 2263 or so was the low the last couple of days and we got close, but it was the middle of the night. Maybe we run out of buyers this afternoon and we get back down there. I would not be surprised to see buyers come in at the end for the Amazon earnings, should be more like fruit and less like social media.