05/17/2017 Live Update

[Cobra]

rebound indeed. nowadays usually the very first rebound means the low was in. let's see if today is the same.

[QED]

Maybe rejected at the VWAP?

[Al_Dente]

Worst of the big caps (OEX) today
(Best are CL and TGT, not shown here)

[QED]

London is closing in a few minutes ... maybe they are holding us up?

[fehro]

yeah.. not good, not pretty nears LOY

[Al_Dente]

Nasdaq declining stocks = 5.3x advancing stocks
Nasdaq declining volume = 6x advancing volume

[Cobra]

members only update at 11:45 am
http://www.cobrasmarketview.com/2017/05 ... ay-update/

[Mr. BachNut]

Update of yesterday's post.

A down target has finally been hit.
There is quite a drop until the next target at SPX 2348.69.
Before entering that volume hole, expect a bounce and/or some back and fill.
We have the 50 day MA and the middle keltner providing support as well.
We are also in the neighborhood of the magenta internal trend line.

The May VIX contract expired at the open today.
Some shorts got absolutely shanked between yesterday's close and expiration.
It will be interesting to see what mischief may be in store for OPEX.

My trigger was hit when the Trump news hit and ES got sold last night.
I have scaled out a profit unit on the R2K position (TF contract) a little while ago and the rest will be left to run.
Depending on how things go, I may take a scale on ES.
I also have some oversold setups that may put on some hedge longs.

[fehro]

nibble long near here 2371 /ES invs H&S 5m looking for possible 20d tag

[Al_Dente]

Required reading [save for later]
4x ES leverage anyone?
This is the kind of foolishness we started seeing in 2000 and 2007.......
http://www.reuters.com/article/us-sec-e ... SKBN17Z009
https://www.ft.com/content/a5af4864-305 ... ef563ecf9a
search “RED FLAGS” HERE:
http://www.zerohedge.com/news/2017-05-0 ... sp-500-etf

UPDATE: The SEC is reconsidering this bullshite
https://www.wsj.com/articles/sec-recons ... 1494970106

[Al_Dente]

Note: Big P-bar up on TQQQ but not on QQQ
5 minutes ago

[Al_Dente]

Two out of three print a higher low as they try to dead-cat bounce up to the declining MAs
QQQ, SPY, IWM
1 min

[fehro]

nibble long near here 2371 /ES invs H&S 5m looking for possible 20d tag

nada.. take your pic invs H&S or triangle /ES 5m

[MrMiyagi]

Here comes a second wave of deep selling

[fehro]

nibble long near here 2371 /ES invs H&S 5m looking for possible 20d tag

nada.. take your pic invs H&S or triangle /ES 5m

ding ding target tagged, nLOD

[Cobra]

2nd leg down was slow so some chances of double bottom here, let's see. bears already did better than usual.

[QED]

MrMiyagi, do you see the multiple p-bars (dark pool block trades) on SPY at $240.20?
It looks like they rang the cash register near the top yesterday!

[MrMiyagi]

MrMiyagi, do you see the multiple p-bars (dark pool block trades) on SPY at $240.20?
It looks like they rang the cash register near the top yesterday!

Ah my friends... TD Waterhouse finally migrated all their charts to their new and incredibly shitty system. Alas, pBars are now gone forever...

[MrMiyagi]

2nd leg down was slow so some chances of double bottom here, let's see. bears already did better than usual.

Quadruple bottom maybe? On one-minute chart..

[MrMiyagi]

2nd leg down was slow so some chances of double bottom here, let's see. bears already did better than usual.

Quadruple bottom maybe? On one-minute chart..

Nope, no double, no quadruple. Just a Royal Trump Flush...

Cancelling HAPPY HOUR in advance...