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08/25/2017 Live Update

PostPosted: Fri Aug 25, 2017 9:23 am
by Cobra
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double top or not, wait and see.

Re: 08/25/2017 Live Update

PostPosted: Fri Aug 25, 2017 9:26 am
by Cobra

Re: 08/25/2017 Live Update

PostPosted: Fri Aug 25, 2017 9:54 am
by te_fern
Yellen at 10:00?

Re: 08/25/2017 Live Update

PostPosted: Fri Aug 25, 2017 9:56 am
by Wallstreetrader
...

Re: 08/25/2017 Live Update

PostPosted: Fri Aug 25, 2017 9:59 am
by Trades with cats
te_fern wrote:Yellen at 10:00?

New York or Mountain Time?

Re: 08/25/2017 Live Update

PostPosted: Fri Aug 25, 2017 10:00 am
by Cobra

Re: 08/25/2017 Live Update

PostPosted: Fri Aug 25, 2017 10:03 am
by Trades with cats
New York.
Market Watch says she said Dodd Frank has made markets "substantially safer"

Re: 08/25/2017 Live Update

PostPosted: Fri Aug 25, 2017 10:09 am
by Trades with cats
Looks like the algos finally read the part of the speech where she calls them out, now they don't know what to do! :lol:

Re: 08/25/2017 Live Update

PostPosted: Fri Aug 25, 2017 10:15 am
by te_fern
Yes, she hasn't said anything yet to upset the markets....

Re: 08/25/2017 Live Update

PostPosted: Fri Aug 25, 2017 10:18 am
by Trades with cats
Experts said that by saying nothing about rates she is confirming the September start of the balance sheet reduction. Can we call that money burning? I mean what is the opposite of printing money.

Re: 08/25/2017 Live Update

PostPosted: Fri Aug 25, 2017 10:23 am
by fehro
SPX resistance here 60m.. short at** 2452 not 2425.. 50d SMA just under at 2450.80ish

Re: 08/25/2017 Live Update

PostPosted: Fri Aug 25, 2017 10:24 am
by Trades with cats
Last week at the bottom of the drop I drew some fibs, I have the ES 61.8% retrace at 2453.34 which we kissed on Tuesday in the closing hour. I have today's high as 2453.50. I also have articles that say fibs are not meaningful BUT retracements between around 50 to 75% are very common (Adam Grine). As long as traders and algos see them as magic numbers they have their power!

Re: 08/25/2017 Live Update

PostPosted: Fri Aug 25, 2017 10:27 am
by Daniel
te_fern wrote:...hasn't said anything yet to upset the markets

Wow. Gold and silver have certainly been dancing the jittery jitterbug dance this morning. Wide range bars already on both GLD and SLV.
:)

Re: 08/25/2017 Live Update

PostPosted: Fri Aug 25, 2017 10:36 am
by Trades with cats
Gold was halted before the speech because of the usual massive sell order. FX was all over the place until the text was released then the Dollar hit a new low for the year. Apparently the wording on overvalued was considered dovish.

Re: 08/25/2017 Live Update

PostPosted: Fri Aug 25, 2017 10:41 am
by Trades with cats
Yesterday the market turned on a dime when London/Frankfurt closed. Needs a repeat today or Cobra is going to be writing about the double top! Actually probably flat lining waiting for Super Mario in 2 and a half hours. His speech is an hour long and I am guessing because it is the Luncheon speech, not because he has that much to say. ;)

Re: 08/25/2017 Live Update

PostPosted: Fri Aug 25, 2017 10:43 am
by fehro
fehro wrote:SPX resistance here 60m.. short at** 2452 not 2425.. 50d SMA just under at 2450.80ish


NDX/COMPQ and INDU near 20d SMA at their HODs, as VIX nears 50d SMA near LOD… GLD bounced at 20d.. still looks very iffy.. DXY recent low 92.50.. may see a tag undercut (blow out stops) then bounce / double bottom.. careful on gold an oil.. /CL struggles at 20w SMA

Re: 08/25/2017 Live Update

PostPosted: Fri Aug 25, 2017 10:44 am
by fehro
Yellen punishes the dollar… bad cop.. careful at 3:00pm.. Draghi.. may punish the Euro.. and the USdollar may bounce hard… good cop :roll: :lol: :lol:

Re: 08/25/2017 Live Update

PostPosted: Fri Aug 25, 2017 10:48 am
by te_fern
The volatility in Gold that Daniel was referring to....

Re: 08/25/2017 Live Update

PostPosted: Fri Aug 25, 2017 10:51 am
by te_fern
Now the SPX is starting to react...

Re: 08/25/2017 Live Update

PostPosted: Fri Aug 25, 2017 10:54 am
by Trades with cats
News feed is very clear, this was Yellen's good by speech making Goldman's former number 2 the most likely new Fed Chair. I am no fan of Yellen but a Goldman alum running the Fed makes the odds of another bankster collapse a lot higher.