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12/06/2017 Live Update

PostPosted: Wed Dec 06, 2017 10:23 am
by Cobra
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rebound looks like a bear flag so bias is down.

Re: 12/06/2017 Live Update

PostPosted: Wed Dec 06, 2017 10:26 am
by Cobra

Re: 12/06/2017 Live Update

PostPosted: Wed Dec 06, 2017 10:37 am
by Trades with cats
ES 12-17 (1000 Tick) 2017_12_06.png
Overnight View of the ES action
Since only 300 or so watch Future Trader 71's free morning broadcast I am passing on his observations about the overnight market when it seems meaningful to me.
ES volume was typical at 110,000 contracts. Asian selloff with base building once Europe opened.
Comment by me- don't know if ES 2620 was anyones target for the low but it has a nice head and shoulders sort of shape to it.
Don't forget m,y charts show Mountain Standard time so add 2 hours for Eastern.

Re: 12/06/2017 Live Update

PostPosted: Wed Dec 06, 2017 10:40 am
by JFR
Overnight gap down on YM, ES and NQ.

NQ has filled.

Re: 12/06/2017 Live Update

PostPosted: Wed Dec 06, 2017 10:41 am
by fehro
https://www.bloomberg.com//news/articles/2017-12-06/a-60-billion-scramble-awaits-etfs-in-google-facebook-reshuffle

With companies including Google parent Alphabet Inc., Facebook Inc., Comcast Corp. and Walt Disney Co. poised to join communications, ETFs focusing on consumer discretionary and tech industries may be forced to sell about one-fifth of their holdings to mimic the changes. Some funds such as SPDR S&P Internet ETF may have to overhaul their methodology because the sub-index it tracks will no longer exist, according to Lin.

Re: 12/06/2017 Live Update

PostPosted: Wed Dec 06, 2017 10:57 am
by Trades with cats
Could have an effect on volume today. They are evacuating Bel Aire this morning as the fires move into the west side of LA. Lots of money management firms in nearby Century City and Santa Monica.

Re: 12/06/2017 Live Update

PostPosted: Wed Dec 06, 2017 10:59 am
by Trades with cats
If these fires burn up Bel Aire and the nearby very pricy areas this could possibly be the coup de gras for some property insurance firms? :o

Re: 12/06/2017 Live Update

PostPosted: Wed Dec 06, 2017 11:05 am
by Cobra

Re: 12/06/2017 Live Update

PostPosted: Wed Dec 06, 2017 11:11 am
by Al_Dente
More on tech:
"A few heavy hitters are dumping factor positions that incidentally hurt chipmakers and software companies and once they’re done, the rally will resume."
“We’ve seen this before...Everyone makes a song and dance that tech stocks have fallen, but then you scratch below the surface and ....”
https://www.bloomberg.com/news/articles ... -with-tech

Re: 12/06/2017 Live Update

PostPosted: Wed Dec 06, 2017 11:23 am
by Daniel
Trades with cats wrote:If these fires burn up Bel Aire and the nearby very pricy areas this could possibly be the coup de gras for some property insurance firms? :o

KIE:XLF is at a 20day low area.. but the ratio is actually up on the day.

Point of fact: property insurance firms don't experience a sudden "coup de gras". They cap at a certain level, and pass the rest on to re-insurers. These "re-insurance" companies are huge pools of last-ditch reserve capital. If any one of these entities fails it takes down the whole system with it.

But until that happens the front line companies have much shock-absorption.

And much of this is probably already priced in for the ratio to already be in a 20day low region... but if one is serious about deep-diving into the sub-sector, it would be best to carefully track several key re-insurers, looking for technical chart warnings.

Re: 12/06/2017 Live Update

PostPosted: Wed Dec 06, 2017 11:23 am
by te_fern
I'm watching the blue line this morning for any change in direction...

Re: 12/06/2017 Live Update

PostPosted: Wed Dec 06, 2017 11:26 am
by Daniel
KRE, EWG hod.
IBB!! XLY, XRT, XLB lod.

$COPPER was down -4.5% yesterday. Materials are not hot just now.

Re: 12/06/2017 Live Update

PostPosted: Wed Dec 06, 2017 11:37 am
by Trades with cats
Daniel, thanks for that. All I know about is Uncle Warren has made a bundle with General RE . All I am thinking is hurricane losses are huge, NorCal fire losses also large , now if they lose a bunch of movie star houses in the hills above LA this could be the worst year in a decade or more for somebody. Not trying to play it until we see what happens. BUT as all these claims get paid out somebody somewhere has to be liquidating "safe" securities to cover those checks.Or as others say higher time frame investors selling.

Re: 12/06/2017 Live Update

PostPosted: Wed Dec 06, 2017 11:40 am
by Trades with cats
I don't see why copper is in with the materials group. It belongs with the bonds or gold as the Chinese market has turned it into a financial asset.

Re: 12/06/2017 Live Update

PostPosted: Wed Dec 06, 2017 11:40 am
by Daniel
After much agitation, the VIX has becalmed around the 11--11.5 range, these past few hourly bars. SPY atr is still expanded tho.

update: KRE, XLF, XBD, UUP hod

Re: 12/06/2017 Live Update

PostPosted: Wed Dec 06, 2017 11:49 am
by Al_Dente
three days of lower highs and lower lows on smalls
1 min
https://www.youtube.com/watch?v=6gcf_8O7HGQ
whenever the bears decide to cover (when higher lows take over the landscape), they have a history of monster squeezing

126tna 1.png.png

Re: 12/06/2017 Live Update

PostPosted: Wed Dec 06, 2017 11:56 am
by Daniel
EWG, EFA hod

QQQ testing 15min 20ema from below, SPY not yet there, IWM nowhere close.
Prior QQQ test this AM was firmly rejected.

Re: 12/06/2017 Live Update

PostPosted: Wed Dec 06, 2017 12:02 pm
by brokebybernacke2
really strange they stopped sp high just shy of that 2666...(.81 points shy)..close enuff..
the bulls bounce must occur soon this zone imo, otherwise, far as im concerned, bulls already in playing with fire zone, all bounces do not overstay imo...buyer beware..see u next year!

Re: 12/06/2017 Live Update

PostPosted: Wed Dec 06, 2017 12:06 pm
by te_fern
Showing a little bit of life...

Re: 12/06/2017 Live Update

PostPosted: Wed Dec 06, 2017 12:13 pm
by Daniel
EEM fresh 20day low this AM. Donchian sell signal! :|