08/10/2017 Live Update

[Al_Dente]

Interesting that on the way up the heat map was red green, with rotation out of X and into X
And the AD was often plenty of green volume in a handful of issues (narrow buying)

Now on the way down the heat map is almost all red
And the AD shows plenty of red volume in plenty of issues (broad selling)

[Mr. BachNut]

Greetings all. Mr. BachNut reporting in.

Haven't posted in awhile. There has been nothing to say re: the SPX and my NYMO model has not been useful.
I have been finding trade more productive in currencies and commodities lately.

The NYMO cycle has been down since July 19th, and this morning we have entered the Turn zone.
This is not the "Oversold" zone, which is further down, but this is an area where NYMO often finds a low.

Price, until the last few days, has gone nowhere for weeks. Flat as a pancake and little vol.
This morning's low almost nicked the 50 day MA, which is often a support area.
It happens to coincide with my middle keltner at the moment, which has offered repeated support since March.

This morning's gap has opened up an up target.
My collection of down gap targets has withered away with the rising 200 day MA.
I have never experienced so many unclosed gaps. It is a different market.
As long as the 200 day MA holds, should it ever be tested again, those down gaps are off the radar, but I would bring them back if it fails.

I remain long the SPX from weeks ago. I have done nothing after scaling. None of my other tools have produced a sell signal. I do not have much to show for the position.
I did get a sell in the R2K in late July and banked. Unfortunately, I moved my stop to BE after scaling and got picked off in Tuesday's pop.
I was away from my desk getting a massage when the buy program hit, and it was too late to reload once I was back. It was a great massage though...LOL... just turned out to be expensive.

Hope everybody is doing great and having a nice summer.

[Wallstreetrader]

sidelines this is getting very dangerous !

[fehro]

SPX 50d zoo close 2448.50ish.. looking for 2450ish…. may stall bounce here. .not sure..

sooo close… SPX LOD goes.. look to 50d 2448ish just 3 points lower

[Daniel]

Half hour to go then those negative Europeans go home and we are clear to begin the upwards New York drift!

If anything, today the selling has accelerated since the overseas close.

[Daniel]

Multiple sectors LOD here.

[Al_Dente]

ALMANAC seasonality
http://jeffhirsch.tumblr.com/post/16399 ... -cool-down

[brokebybernacke2]

Half hour to go then those negative Europeans go home and we are clear to begin the upwards New York drift!

If anything, today the selling has accelerated since the overseas close.

yes , a missile happy world makes for wildcards..50 day next possible bounce point then 2430, my preferred target

[Cobra]

members only update at 11:58 am
http://www.cobrasmarketview.com/2017/08 ... ay-update/

[fehro]

SPX 50d zoo close 2448.50ish.. looking for 2450ish…. may stall bounce here. .not sure..

sooo close… SPX LOD goes.. look to 50d 2448ish just 3 points lower

ding ding 50d SMA tag .. cover SPX short.. from a couple days ago.. SPY support near June highs 244.50.. "should" provide support

[Cobra]

could be fib 61.8% mm. sorry stockcharts doesn't allow me to set fib.

[MrMiyagi]

could be fib 61.8% mm. sorry stockcharts doesn't allow me to set fib.

WHAT are you kidding?? I have a fridge FULL OF KIDNEYS!!! JAAANEEEEEETTTTT!!!!

[Trades with cats]

I think Janet is playing golf in New Jersey.
I have seen in the past where the New York Drift takes a while after the European close to get their tires smoking.
BUT if some funds are in trouble to today then we all know each and every wave of selling will be followed by another wave until Janet releases the Bullard to jaw bone the markets from an open mike.

[Trades with cats]

Ok no more Bullard jokes because the evil site is making them also, so it is no longer funny.

[fehro]

could be fib 61.8% mm. sorry stockcharts doesn't allow me to set fib.

this level goes.. look to SPX 2425-35 open gap.. and or much much lower…. SPX 60m fwiw

[Daniel]

The punishment of FXI continues on today, as the session progresses.

Down over 1% since the Open. Usually FXI does its thing early--because the ETF reflects markets that are long closed. FXI makes a useful sentiment indicator during the US session, since it trades mainly on emotion and there is rarely breaking news on it.

[fehro]

RUT just 7 points to 200dSMA lower

[Al_Dente]

Bear still strong
I need it to hold above 2x
NY declining stocks = 4.4 x advancing stocks
NY declining volume = 2.8 x advancing volume

Nasdaq declining stocks = 3.1 x advancing stocks
Nasdaq declining volume = 2.7 x advancing volume

NY declining stocks = 5.3 x advancing stocks
NY declining volume = 4.2 x advancing volume

Nasdaq declining stocks = 3.8 x advancing stocks
Nasdaq declining volume = 3.5 x advancing volume

[brokebybernacke2]

RUT just 7 points to 200dSMA lower

if trannies and smallies lead....

[Al_Dente]

VIX is up 38.6%