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11/21/2017 Live Update

PostPosted: Tue Nov 21, 2017 10:22 am
by Cobra
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this bull may have legs.

Re: 11/21/2017 Live Update

PostPosted: Tue Nov 21, 2017 10:24 am
by fehro
bonds up strong. mind the gap fade.. and lower open gaps.

Re: 11/21/2017 Live Update

PostPosted: Tue Nov 21, 2017 10:25 am
by Cobra

Re: 11/21/2017 Live Update

PostPosted: Tue Nov 21, 2017 10:35 am
by Daniel
Cobra wrote:this bull may have legs.

Everyone keep in mind Al D's recent posting, courtesy of Stock Trader's Almanac, of the historical market tendencies of Thanksgiving week and the Monday after...

Re: 11/21/2017 Live Update

PostPosted: Tue Nov 21, 2017 10:42 am
by Al_Dente
repost, Almanac:
today is the 15th trading day of the month
1113SAVEreminder nov.png.png

Re: 11/21/2017 Live Update

PostPosted: Tue Nov 21, 2017 10:43 am
by Daniel
QQQ currently testing last Thursday's high. (SPY is well above it's recent high.)

quick update: Qs over 155 and blasting thru any resistance that prior high might offer...

Re: 11/21/2017 Live Update

PostPosted: Tue Nov 21, 2017 10:46 am
by Daniel
Al_Dente wrote:repost, Almanac:

Thanks AD, right on cue! :)

..and, also, this one:
THANKSGIVING WEEK [Almanac]
“The best short-term trade appears to be getting long into weakness on Monday or Tuesday of Thanksgiving week and selling into any subsequent rally by the end of Thanksgiving week, but remain nimble…”

Re: 11/21/2017 Live Update

PostPosted: Tue Nov 21, 2017 10:47 am
by fehro
Pushing for ATH COMPQ gaps up to ATH others lag

Re: 11/21/2017 Live Update

PostPosted: Tue Nov 21, 2017 10:48 am
by Cobra
looks like a strong uptrend day.

Re: 11/21/2017 Live Update

PostPosted: Tue Nov 21, 2017 10:50 am
by Al_Dente
Daniel wrote:
Al_Dente wrote:repost, Almanac:

Thanks AD, right on cue! :)

..and, also, this one:
THANKSGIVING WEEK [Almanac]
“The best short-term trade appears to be getting long into weakness on Monday or Tuesday of Thanksgiving week and selling into any subsequent rally by the end of Thanksgiving week, but remain nimble…”

:D
Elsewhere, existing home sales at 10:00 ET

Re: 11/21/2017 Live Update

PostPosted: Tue Nov 21, 2017 10:54 am
by te_fern
Do we have enough gas in the tank to push over 2600???

Re: 11/21/2017 Live Update

PostPosted: Tue Nov 21, 2017 10:54 am
by Daniel
Both NYSE and Nasdaq advancers are strong and near (or at) the hod.

Up/down volume has been strongly bullish since the Open on Naz, and somewhat strong on NYSE.

Re: 11/21/2017 Live Update

PostPosted: Tue Nov 21, 2017 10:58 am
by Trades with cats
Interesting comment from Futures Trader 71 during his morning broadcast (Traderbite). He said normal behavior on a gap up open like today is a reversal down to shake out the weak longs then continue the move on up. But this market is rewarding the weak longs by immediately moving on up from gap up opens. He says this is the same behavior he traded leading into the dot com crash. He was careful to say that he wasn't predicting a crash, just noting the parallel.

My personal opinion is that in both cases the market was lead by smoke and mirrors story tech stocks and fueled by Fed surplus liquidity so you would expect traders to do something similar. Doesn't mean we get the same ending because the Fed has learned something, but we will get an ending. :o

Re: 11/21/2017 Live Update

PostPosted: Tue Nov 21, 2017 11:00 am
by Cobra

Re: 11/21/2017 Live Update

PostPosted: Tue Nov 21, 2017 11:02 am
by Daniel
Trades with cats wrote:...careful to say that he wasn't predicting a crash, just noting the parallel....


An excellent anecdotal example of the kind of complacency which has the VIX once again under 10 (currently 9.90)!

Re: 11/21/2017 Live Update

PostPosted: Tue Nov 21, 2017 11:04 am
by te_fern
Levered smalls are moving up nicely...

Re: 11/21/2017 Live Update

PostPosted: Tue Nov 21, 2017 11:05 am
by Al_Dente
..........

Re: 11/21/2017 Live Update

PostPosted: Tue Nov 21, 2017 11:06 am
by Daniel
te_fern wrote:Do we have enough gas in the tank to push over 2600???

As Cobra has said so often these past years: "all bulls need is imagination". Stretched fundamental valuations can always stretch further.

Re: 11/21/2017 Live Update

PostPosted: Tue Nov 21, 2017 11:08 am
by Cobra
probably the rest of the day will go like this as usual.

Re: 11/21/2017 Live Update

PostPosted: Tue Nov 21, 2017 11:09 am
by Al_Dente
existing home sales
green