04/24/2017 Live Update

[Cobra]

generally should be some buyers here. let's see.

[te_fern]

Slowly moving higher from my buy point....

[Al_Dente]

[Bespoke]
29 of the Nasdaq-100 (QQQ) stocks have hit 52-week highs today. Most since November 2014.
59 of the Nasdaq-100 stocks (QQQ) are up 10%+ YTD

[tsf]

yuge block trade sell print at 237 earlier this morning ???

Dark Pools taking profits.

Thank you, Mr M !

[te_fern]

[Bespoke]
29 of the Nasdaq-100 (QQQ) stocks have hit 52-week highs today. Most since November 2014.
59 of the Nasdaq-100 stocks (QQQ) are up 10%+ YTD

Boss, makes me concerned about owning anything today!!

[Al_Dente]

[Bespoke]
29 of the Nasdaq-100 (QQQ) stocks have hit 52-week highs today. Most since November 2014.
59 of the Nasdaq-100 stocks (QQQ) are up 10%+ YTD

Boss, makes me concerned about owning anything today!!

NY advancing stocks = 2.6 x declining stocks (was almost 6x at the open)
NY advancing volume = 3.2 x declining volume (was roughly 6.5x at the open)
As long as AD stays above 2x, bulls will try try again

But “price rules” [bb52x] and stop is today’s low or higher, depending on how tight you are
At the moment she’s almost not quite above VWAP yet………IWM

[Al_Dente]

$VIX is down ~23% at the moment
intraday

[Al_Dente]

Or just ride the higher lows
Out if u see lower low
(that's too tight for some)
Fern: where did you go on vacation?

[Trades with cats]

Concern is right on! Algo stamped when the markets opened last night, sells off then a double top just as europe opens, another sell down then finally a spike top (well on my 1,000 tick chart) 3 hours before the US RTH opens. Now we flop around for two hours to get back to that asian session low in time for the european close. They get a close below their open. But the news media is all about how the dozen mega caps are all at all time highs. Que up Barry McGuire's "The Eve of Destruction". Oh, and don't forget the hard evidence of the PBoC following the Venezuelan play book which is CAT showing big increase in sales for the first time in years, but only in China.

I know I am wrong but the whole thing sort of looks like the final push up so it can fall off a cliff like 2000 and 2008. Maybe I should be more positive that our panel of Econ professors with a sprinkling of politically connected lawyers know what they are doing, all factual evidence to the contrary. Bottom line we have less than two hours to get to the typical high of the day so if this pig of a market can't book a measly 8 points to match that overnight high I am thinking stick a fork in it, it's done.

[Al_Dente]

Here are the megacap (OEX) biggest gainers
Doesn’t show ATH, just intraday
Does anyone have a list handy of those dozen mega caps that are ruling the universe? We know the tech monsters… who are the others?

[te_fern]

Or just ride the higher lows
Out if u see lower low
(that's too tight for some)
Fern: where did you go on vacation?

Actually did a cruise of Asia for the first time. Had a great time!!

[te_fern]

Currently have my stop loss at 107.00. Moving it up with the lower MA line....

[Trades with cats]

Fundstat advisors founder THOMAS Lee
https://pbs.twimg.com/media/C92KylCXoAASnTR.jpg

So Hedge Fund Hotels plus cigarettes, bandaids and dish soap.

[uempel]

BPs look quite good:

http://stockcharts.com/freecharts/candl ... ,$BPENER|B|

[Trades with cats]

BPs look quite good:

http://stockcharts.com/freecharts/candl ... ,$BPENER|B|

I sure hope so boss. I got a buy signal right on schedule at noon but so far it isn't gonna pay the rent.

[BullBear52x]

short term market is now entering overbought. from looking over all I can sum it up as counter trend - ABLE setup on LH, as always wait for RSI <70 to shoot for LH or 2x top on these daily chart setup except QQQ.

[Al_Dente]

Fundstat advisors founder THOMAS Lee
So Hedge Fund Hotels plus cigarettes, bandaids and dish soap.

THANKS BOSS
Here’s the setup, just for you
(Can you see stockcharts.com chart set ups?)
https://stockcharts.com/freecharts/cand ... L,V,PG|M|0

[BullBear52x]

For now Bull flag is at play.

[Al_Dente]

10 days %
QQQ gets all the press, IWM gets no love, except here
(this chart is a few minutes late)

[Trades with cats]

Here is a follow on article about the Fundstrat chart. Since it is the Wall Street Journal that makes a highly concentrated market official common knowledge. Apparently only 40 stocks accounted for 100% of the year to date gains. Not to be a broken record but the legend Bob Farrell has this condition as one of his 10 rules.
https://www.wsj.com/articles/investors- ... 1492469729