05/04/2017 Live Update

[Al_Dente]

[Almanac]
"Typical May Pattern: Some Strength Early and Late"
http://jeffhirsch.tumblr.com/post/16027 ... y-and-late

[Cobra]

members only update at 12:05 pm
http://www.cobrasmarketview.com/2017/05 ... ay-update/

[te_fern]

Smalls can't get anything going today!

[te_fern]

Pasta Boss, is it time to look at TZA or is it too late??

[te_fern]

Probably need a pullback first.....

[Mr. BachNut]

Busy BachNut checking in. Not much time to post lately.

NYMO breaking prior lows here. Needs to pull up by the close or looks like cycle turning down.

Price has been holding flat as a pancake. Guessing it will break one way or the other after this weekend.

Judging by the target stack, I can only say that the SPX is taking a gap year.
I don't think I have seen this many open gaps in play on a chart. It is a little hard to claim this is useful. Sorry.
Weird market driven by overnight trade instead of composite action of stocks during open session.
Given the lack of price discovery and the volume holes in these gaps, the next correction could manifest some spikey behavior.
We shall see.

I am short a little R2K, but may go flat into the weekend.
TF just closed the gap from the French vote two weeks ago and is on some support.
May bounce and then we'll see.

Cheers.

[Cobra]

too bad, still don't know if this is just to test yesterday low and now sharp rebound to day high. cannot say this bear shall have legs.

[Denali92]

Interesting article on times....

http://www.tradermentality.com/2016/02/ ... times.html

Good link - THANKS!

I do think there is something there. I have also done some work on when the market is trending the whole first hour in 1 direction it tends to reverse around 10:30am... especially when going down.... though I think yesterday was 10:55.... but it had that opening rally....

-D

[Denali92]

For sake of being easier to read.

my May preview is posted here:

https://pugsma.com/denalis-turning-poin ... ints-2017/

-D

[Al_Dente]

Pasta Boss, is it time to look at TZA or is it too late??

IDK
TNA met my lower box target; i am flat
in my book, any bounce is dead cat until strong proof otherwise

[Cobra]

so far just a vacuum up to the range high.

[MrMiyagi]

SPY using 10sma as support again today. Rising trendline.

[Al_Dente]

members only update at 12:05 pm
http://www.cobrasmarketview.com/2017/05 ... ay-update/

[te_fern]

Pasta Boss, is it time to look at TZA or is it too late??

IDK
TNA met my lower box target; i am flat
in my book, any bounce is dead cat until strong proof otherwise

54five.png.png

In looking back at the short term charts, the entry point was probably a couple of days ago..... Thanks for the color!

[Al_Dente]

Pasta Boss, is it time to look at TZA or is it too late??

IDK...........

In looking back at the short term charts, the entry point was probably a couple of days ago..... Thanks for the color!

5min tza

Elsewhere, ON THE DAILY (not shown here)
6th day down on IWM
now eyeing the 50dma
bulls don't appreciate that nonsense, they may soon step in and BTFD ?

[te_fern]

Since I can be stubborn, I'm playing this bounce off the support line.... As stated eariler, probably late to the trade!

[te_fern]

Pasta Boss, is it time to look at TZA or is it too late??

IDK...........

In looking back at the short term charts, the entry point was probably a couple of days ago..... Thanks for the color!

5min tza

54five tza.png.png

Elsewhere, ON THE DAILY (not shown here)
6th day down on IWM
now eyeing the 50dma
bulls don't appreciate that nonsense, they may soon step in and BTFD ?

So I should probably day trade my TZA!! LOL! I put a tight stop on it!

[te_fern]

Waiting on Healthcare bill vote!!

[Trades with cats]

TF at 500 tick bars or a little over 2 minutes

Smalls bouncing off the Average Daily range lower bound. Unless it gets really ugly should be flat to up the rest of the day. ES did the same, but as Cobra pointed out they got a vacume lift back up. Smalls have to take stairs, didn't go nearly as well.

[Al_Dente]

bill will die in the Senate anyway
i think everyone is freaking out about OIL today