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08/05/2017 Weekend Update
Posted: Fri Aug 04, 2017 6:30 pm
by Cobra
Just to start a new thread for the weekend chat.
Please don't forget our weekly sentiment poll here:
viewtopic.php?f=9&t=2561
Re: 08/05/2017 Weekend Update
Posted: Fri Aug 04, 2017 6:35 pm
by Cobra
Here's the latest strong stocks count.
viewtopic.php?f=10&t=2563
Re: 08/05/2017 Weekend Update
Posted: Sat Aug 05, 2017 12:12 pm
by Al_Dente
The BB52x extreme bolinger bands (390/2) on the 5min QQQ are compressing even tighter than they did on 27 July, before the explosion.
The bands are also crimped on $SPX (not shown here).
I see that as an ALERT that the current flatness won’t continue too much longer.
Re: 08/05/2017 Weekend Update
Posted: Sat Aug 05, 2017 1:35 pm
by Al_Dente
Regarding those 8 contiguous days of dow $INDU all-time-highs
Breathtaking
Sorry to bore you with more non-participation chatter, but ONLY FOUR OF THE THIRTY DOW STOCKS made new highs on Friday: AXP, TRV, UNH, V.
[The above chart is from Carl Swenlin, who calls it “a persistent erosion of underlying support as expressed by 52-Week New Highs for the DJIA component stocks.”]
Needed is a re-alignment: either more new individual highs OR a lower dow.
There are a few other dow stocks that are “new-high adjacent,” and bulls are praying…
Re: 08/05/2017 Weekend Update
Posted: Sat Aug 05, 2017 2:14 pm
by daytradingES
I read an article this week at ZH by David Stockman.
He was speaking of Amazon and that it will become the poster child of the next crash.
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In another article, the author was speaking of volume and liquidity - I didn't quite follow it all. In any case my take-away was that the algos are programmed for normal conditions and when there is a large price movement they will just turn them off, (and 90%?) of the volume will disappear.
This sets up a free-fall situation where the FED comes in to buy the BIG dip.
Bottom line was he felt we no longer have real markets - rather machine algo gambling casinos.
Re: 08/05/2017 Weekend Update
Posted: Sun Aug 06, 2017 6:30 pm
by Trades with cats
https://youtu.be/IbeMSd46wZs?t=872
This is where Futures Trader 71 shows us non farm payroll with Tradebook software. You can see the algos turn off.
Bottom line the order book is a total joke because of the huge level of spoofing going on.
Especially for us futures traders, do keep in mind the trading colors where they shut the market down. Remember it did happen on election night. Did it come back, well yes of course, it has every time. But if you had a deep trailing stop, too bad.