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02/01/2018 Live Update

02/01/2018 Live Update

Postby Cobra » Thu Feb 01, 2018 10:23 am

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I don't think it's double bottom here but let's see. on the other hand, it's very rare for bears to have a downtrend day, in most cases, we'll see intraday reversal up.
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Re: 02/01/2018 Live Update

Postby Cobra » Thu Feb 01, 2018 10:26 am


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Re: 02/01/2018 Live Update

Postby fehro » Thu Feb 01, 2018 10:29 am

https://www.zerohedge.com/news/2018-02-01/its-getting-lowly-top

To wit: yesterday’s drop in the S&P 500 (SPX) still left the index just 1.76% away from its 52-week (and all-time) high. Despite that, we saw 271 stocks on the NYSE closed at a 52-week low versus just 44 new highs. The net difference of 227 more new lows than new highs represented 7.4% of all stocks traded on the NYSE. If you think that sounds like a lot, you’re right.

Since 1970, the S&P 500 has closed within 2% of its 52-week high on more than 4500 days. This is just the 15th time on such days that the number of net new lows totaled more than 7% of all stocks trading on the NYSE. Loosening the parameters a little to include all days within 3% of a SPX 52-week high, the chart below shows that yesterday was just the 30th time that NYSE net new lows represented more than 7% of all issues traded.

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Re: 02/01/2018 Live Update

Postby JFR » Thu Feb 01, 2018 10:32 am

Overnight gap down on YM, ES and NQ.
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Re: 02/01/2018 Live Update

Postby fehro » Thu Feb 01, 2018 10:37 am

complex H&S /CL 60m .. neckline near 63.93 20d 64.17 .. it goes target is 50d SMA 60.63 -$3.35 from neckline
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Re: 02/01/2018 Live Update

Postby JFR » Thu Feb 01, 2018 10:40 am

Some leaders ... V, MTOR, PBI.

SPY gap down, but climbing back somewhat.
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Re: 02/01/2018 Live Update

Postby Trades with cats » Thu Feb 01, 2018 10:43 am

Overnight selling 3x normal. Overnight low makes double bottom with the weekly low. I will write to my kids this weekend and explain that this time is not the same as the last 9 years, the Fed has changed.

Bulls must recover ES 2827 today, the middle of everything for two days. Looking for a retest of the overnight low at ES 2809, probably small bounce then a challenge to 2800. Assuming the market will not just go straight up from that low at 9:15 Eastern time.
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Re: 02/01/2018 Live Update

Postby fehro » Thu Feb 01, 2018 10:47 am

INDEXes dailies.. RUT 50d is very close.. possible patterns.. fwiw China Exchanges closed all next week.. perfect time to take them offside.. big dollar move? :roll: :lol: mind oil/gold.. and indexes? :roll:
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Re: 02/01/2018 Live Update

Postby K447 » Thu Feb 01, 2018 10:50 am

fehro wrote:.. fwiw China Exchanges closed all next week..

Do you have a link for what is closed, not closed?

This site says Feb 15-21

https://www.officeholidays.com/countrie ... /index.php
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Re: 02/01/2018 Live Update

Postby fehro » Thu Feb 01, 2018 10:57 am

K447 wrote:
fehro wrote:.. fwiw China Exchanges closed all next week..

Do you have a link for what is closed, not closed?

This site says Feb 15-21

https://www.officeholidays.com/countrie ... /index.php


Sorry you are right saw this.. then clicked this.. CLOSED Feb 15-21
Last edited by fehro on Thu Feb 01, 2018 10:59 am, edited 1 time in total.
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Re: 02/01/2018 Live Update

Postby JFR » Thu Feb 01, 2018 10:59 am

Big turnaround. NQ has filled overnight gap. Others are close to doing so.
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Re: 02/01/2018 Live Update

Postby Trades with cats » Thu Feb 01, 2018 11:01 am

Golden week, the lunar new year is always a mess for oil. Big hint from the paid site yesterday, teapot refiners in northern coastal China have been importing a lot of US crude, they love our light shale oil. No idea what transit times are from the Gulf, but it has to be long.
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Re: 02/01/2018 Live Update

Postby Cobra » Thu Feb 01, 2018 11:03 am


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Re: 02/01/2018 Live Update

Postby Trades with cats » Thu Feb 01, 2018 11:10 am

Low to top of the first rotation was 14 points, then 7 points down now this 2nd rotation up looking like 10 points. Still waiting for that 2827 level to show bulls in control. Still waiting on the downside for a serious retest of the low. Patience Grasshopper.
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Re: 02/01/2018 Live Update

Postby Cobra » Thu Feb 01, 2018 11:15 am

morning hourly hollow red.
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Re: 02/01/2018 Live Update

Postby Trades with cats » Thu Feb 01, 2018 11:21 am

VWAP held, taking another bite at that overhead resistance but I am seeing momentum fading (ADX 14 peaked at 10 AM).
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Re: 02/01/2018 Live Update

Postby Trades with cats » Thu Feb 01, 2018 11:24 am

Sorry, ADX 14 period is relative to my 1500 tick bars, not comparable to 5 minute bars. My bars are running about 1 and a half minutes each this morning.
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Re: 02/01/2018 Live Update

Postby Trades with cats » Thu Feb 01, 2018 11:29 am

rnear record production.png
From John Kemp Twitter feed


OPEC's worst nightmare! This puts us almost equal to Saudi production.
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Re: 02/01/2018 Live Update

Postby Trades with cats » Thu Feb 01, 2018 11:30 am

Ready to nibble on the short side as VWAP tested again.
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Re: 02/01/2018 Live Update

Postby Trades with cats » Thu Feb 01, 2018 11:45 am

Getting dizzy watching price bounce off VWAP. This is third time in 30 minutes. Looking like the market is stuck until London/Frankfurt closes in 45 minutes.
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