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09/29/2017 Live Update

PostPosted: Fri Sep 29, 2017 9:23 am
by Cobra
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consolidation, bias is a little up.

Re: 09/29/2017 Live Update

PostPosted: Fri Sep 29, 2017 9:26 am
by Cobra

Re: 09/29/2017 Live Update

PostPosted: Fri Sep 29, 2017 9:31 am
by fehro
SPX mind the 5m wedge.. dabble short.

Re: 09/29/2017 Live Update

PostPosted: Fri Sep 29, 2017 9:38 am
by Trades with cats
As many have said, be very careful today, especially around the close as the big herds are moving today. :!:

Re: 09/29/2017 Live Update

PostPosted: Fri Sep 29, 2017 9:54 am
by Trades with cats
Turbulence, please keep your seat belts fastened.

Re: 09/29/2017 Live Update

PostPosted: Fri Sep 29, 2017 10:01 am
by Cobra

Re: 09/29/2017 Live Update

PostPosted: Fri Sep 29, 2017 10:04 am
by fehro
President Donald Trump and Treasury Secretary Steven Mnuchin met with Kevin Warsh on Thursday to discuss his potential nomination as the next Federal Reserve chairman, a White House official said, signaling that the West Wing is moving ahead with a process that the president has said he would like to have completed by the end of the year.

Other names said to be in contention include current Fed Chairwoman Janet Yellen, Stanford University economist John Taylor and John Allison, the former BB&T Bank chief...



https://www.wsj.com/articles/trump-meets-with-kevin-warsh-about-fed-chairman-job-1506692761?mod=pls_whats_news_us_business_f

VIX spike, DXY spikes up, Bonds drop hard, Indexes spike

Re: 09/29/2017 Live Update

PostPosted: Fri Sep 29, 2017 10:05 am
by Trades with cats
NY HiLo.gif
If I was a cynic I would join the crowd claiming Monday will be a major distribution day as Da Boyz sell to the 401K crowd who always buy at the top.
s- from David Larew's twitter feed-Stockchart $NYHILO New York Hi-Low Index, EOD.

Re: 09/29/2017 Live Update

PostPosted: Fri Sep 29, 2017 10:11 am
by Trades with cats
fehro wrote:
VIX spike, DXY spikes up, Bonds drop hard, Indexes spike


In an ask me anything webinar this month Futures Trader 71 said he pays $125 a month for an investor's newsfeed. He said he doesn't trade the news (economic report releases), but by seeing what is hitting the wire he can see immediately if it is moving the market.

Re: 09/29/2017 Live Update

PostPosted: Fri Sep 29, 2017 10:21 am
by fehro
fehro wrote:SPX mind the 5m wedge.. dabble short.



SPX looses 2507 with conviction.. looking for 10 point drop.. not sure yet.. VIX active green with indexes.. bonds pushing up, TLT green.. VXX flat ish AAPL weak, red

Re: 09/29/2017 Live Update

PostPosted: Fri Sep 29, 2017 10:25 am
by fehro
fehro wrote:President Donald Trump and Treasury Secretary Steven Mnuchin met with Kevin Warsh on Thursday to discuss his potential nomination as the next Federal Reserve chairman, a White House official said, signaling that the West Wing is moving ahead with a process that the president has said he would like to have completed by the end of the year.

Other names said to be in contention include current Fed Chairwoman Janet Yellen, Stanford University economist John Taylor and John Allison, the former BB&T Bank chief...



https://www.wsj.com/articles/trump-meets-with-kevin-warsh-about-fed-chairman-job-1506692761?mod=pls_whats_news_us_business_f

VIX spike, DXY spikes up, Bonds drop hard, Indexes spike



Most notably, Warsh has historically been one of the most prominent inflation hawks and outspoken critics of existing Fed policies, which may explain the sharp move higher in the dollar and the corresponding slide in TSY prices.
http://www.zerohedge.com/news/2017-09-29/kevin-warsh-fed-chair-odds-soar-after-wsj-report-trump-meeting

Re: 09/29/2017 Live Update

PostPosted: Fri Sep 29, 2017 10:30 am
by Trades with cats
I think Fed Chair conformations are going to be right up there with supreme court nomination hearings. If it is the three ring circus I expect it may be worthwhile to start day trading bonds. :twisted:

Re: 09/29/2017 Live Update

PostPosted: Fri Sep 29, 2017 10:31 am
by blufftrader
McClellan Oscillator (traditional) has settled within a 7 pt range last 5 days. I have never seen this before in the decades of watching this indictor...pushing the summation indictor to slightly over sold levels with still room to run before extreme levels. Need to see new lows expand before any real selling imho. Which sector(s) will eventually the nya down?

Re: 09/29/2017 Live Update

PostPosted: Fri Sep 29, 2017 10:32 am
by blufftrader
overbought levels

Re: 09/29/2017 Live Update

PostPosted: Fri Sep 29, 2017 10:34 am
by Mr. BachNut
Mr. BachNut with not much to say on the last day of the quarter.

The NYMO cycle is flat. The oscillator is not oscillating.
The high was set at the beginning of the month and it has been floating at nicely positive levels since.
This won't last.
Anecdotes of prior instances of Flat Oscillator Syndrome however are inconclusive.

Price is up but still has failed to reclaim the broken internal trend as well as the upper keltner.
So, flattish also.
Only one down target on the radar. All of the earlier low targets have been left behind and won't come into play without a serious change in trend.

Perhaps the most interesting observation is that the spread between upper and lower keltner bands is squeezing toward historically narrow levels.
Such a condition is usually followed by some robust directional movement to widen them again. So, Q4 could be interesting.

I am flat. My long was finally bumped out by Monday's drop.
Not sure what I will do next.
Still long $/Yen but thinking that trade may check out soon too.

Re: 09/29/2017 Live Update

PostPosted: Fri Sep 29, 2017 10:49 am
by fehro
caution still warranted.. TRIN 1.34 Adv/Dec still diverging .. Put/calls flip fwiw

Re: 09/29/2017 Live Update

PostPosted: Fri Sep 29, 2017 11:00 am
by Cobra
this bull may have legs.

Re: 09/29/2017 Live Update

PostPosted: Fri Sep 29, 2017 11:18 am
by Wallstreetrader
Gm

Will open shorts here to many bulls has to be gl and good weekend

Re: 09/29/2017 Live Update

PostPosted: Fri Sep 29, 2017 11:19 am
by fehro
SPX/RUT/COMPQ/TRANS/ all nATH NDX/INDU lag

Re: 09/29/2017 Live Update

PostPosted: Fri Sep 29, 2017 11:21 am
by Trades with cats
RTY 12-17 (5 BetterRenko)  9_29_2017.jpg
Small Cap (R2K) futures


Clearly the Russell 2000 is NOT participating today. On the internet today I saw two totally different views arriving at the same conclusion.
Tom DeMark indicators showing Monday it could seriously sell off, something about a 13 day count. (Downtown Josh Brown who runs Barry Ritholtz site)
Pretzel Logic's more or less Elliot wave count where he is saying R2K has fulfilled all the technical requirements of a wave five up. He was careful to say it could go another 100 point up so don't be going short until you see the impulsive down start. But he did note that with this parabolic move up it was not unreasonable to expect a parabolic move down.

Personally I see the volume as just too low to play with the futures traders split between the old and new contracts (TF is going away, RTY is here to stay), so really the only choice is to be part of the ETF crowd and pay the higher taxes :(