04/17/2018 Live Update

[Trades with cats]

Coiling for an hour and a half, third time at this price level, kinda feels like make it or break it time for da bulls.

[K447]

... look at the SPX weekly chart posted by Fehro, you will see that price is making lower highs and lower lows.
...

Since the Feb spike down, recent lows have been higher.

There was a one day spike down April 4, since then lows have been higher each week.

[fehro]

SPX .. "should" we close at open prices.. mind the gravestones, or dark clouds. dailies

[Al_Dente]

..........And now Goldman has added more weight to exhaustion with their announcement of no more stock buybacks in Quarter 2. We will see who follows their lead.

boss: do you remember the source of that info?
pretty important, thanks much

[fehro]

..........And now Goldman has added more weight to exhaustion with their announcement of no more stock buybacks in Quarter 2. We will see who follows their lead.

boss: do you remember the source of that info?
pretty important, thanks much

https://www.zerohedge.com/news/2018-04- ... uybacks-q2

[fehro]

SPX .. "should" we close at open prices.. mind the gravestones, or dark clouds. dailies

talking dark clouds

[Al_Dente]

..........And now Goldman has added more weight to exhaustion with their announcement of no more stock buybacks in Quarter 2. We will see who follows their lead.

boss: do you remember the source of that info?
pretty important, thanks much

https://www.zerohedge.com/news/2018-04- ... uybacks-q2

THANKS BOSS
elsewhere:
fidelity most active, intraday

[brokebybernacke2]

Well a whole lot of people on twitter with their own web sites have been calling for it for days. So as a retail investor I have been conditioned to expect that price. Or as Jim Cramer says, buy, buy, buy. After the two legged strong overnight advance the New York session offering another nothing burger should be a source of confusion for the bulls.

On a none sarcastic note if we are in a topping process then these counter trend waves are supposed to pull the last of the bull money out of the mattress as a lack of buyers is the definition of the top. And now Goldman has added more weight to exhaustion with their announcement of no more stock buybacks in Quarter 2. We will see who follows their lead.

Sorry, buddy, but you need a better indicator set. I can show you several metrics that are BELOW March 2009. That's right. Measurements that show less risk and more under-valuation now than at that time. I don't think the market is poised to rocket higher as it did then, but it's going up...a lot. The fact is there is not a hint of euphoria *in the metrics that matter*. Furthermore, inflation expectations are so low that the Fed won't get aggressive yet, which pushes assets prices higher in general. It could literally be years until the "top" happens and it will probably be 30% or more higher at minimum.

Cletus, if you look at the SPX weekly chart posted by Fehro, you will see that price is making lower highs and lower lows. It means bears are still in control, so every move up is just a bounce until proven otherwise. You can start making a case for the bulls if you see a weekly close above 2800. But even then, it doesn't mean bulls are is control. All it will mean is that bears are no longer in control. So both will have to fight for control.

Right now, assuming we close above the 50 and hold, speculating bit more pop, backtest 50, then into final rung of Jacob's ladder...
bears need to get back 50 quick for a shot. imho

[Al_Dente]

..........And now Goldman has added more weight to exhaustion with their
announcement of no more stock buybacks in Quarter 2. ...........

maybe they'll hoarde the cash to buy a bank:
https://eresearch.fidelity.com/eresearc ... BINED&sb=1

[fehro]

SPX come to papa .. cyan channel edge / open gap

[fehro]

TLT key time.. 20w SMA .. weekly looks rough.. daily bulls see cup and handle

[Trades with cats]

Ha Ha, Goldman is an FDIC insured bank. But you are right, if they are hoarding cash they see that no tree grows to the sky. I have agreed in the past and still do today that as interest rates slowly move higher no one will want to own those balance sheets that have lots of buyback debt.

[Al_Dente]

Ha Ha, Goldman is an FDIC insured bank. But you are right, if they are hoarding cash they see that no tree grows to the sky. I have agreed in the past and still do today that as interest rates slowly move higher no one will want to own those balance sheets that have lots of buyback debt.

i am still pereplexed why they ANNOUNCED no Q2 buybacks
they didn't have to ANNOUNCE it

[fehro]

Ha Ha, Goldman is an FDIC insured bank. But you are right, if they are hoarding cash they see that no tree grows to the sky. I have agreed in the past and still do today that as interest rates slowly move higher no one will want to own those balance sheets that have lots of buyback debt.

i am still pereplexed why they ANNOUNCED no Q2 buybacks
they didn't have to ANNOUNCE it

maybe it was a question during the investors call?

[Clueless]

... look at the SPX weekly chart posted by Fehro, you will see that price is making lower highs and lower lows.
...

Since the Feb spike down, recent lows have been higher.

There was a one day spike down April 4, since then lows have been higher each week.

I'm happy you said a "spike." That is why I don't focus on them. I focus on the open and close. Many factors can cause a spike such as ERROR ("fat finger"), news, fake news, misunderstanding... In other words, spikes (especially long ones) are just noise.
That is why I said to Cletus "You can start making a case for the bulls if you see a weekly CLOSE above 2800."

[Trades with cats]

Well if you are ending buybacks at some time you do have to tell the stockholders and during the conference call after good earnings are announced makes a certain amount of sense in that the best hope of having it ignored. Would have been worse if a Wall Street Journal reporter culled it out of a board meeting and turned it into a head line.

[Al_Dente]

.......... maybe it was a question during the investors call?

yes, u r right

Bullish blowout earnings yippee
Banks report good earnings, bank stocks reaction quite lukewarm

https://www.youtube.com/watch?v=YW3MIixEps4

[Trades with cats]

Bank earnings under the hood not so red hot. Regular day to day banking not doing that well. Sorta like this week's retail number, looked good until you took out gasoline and auto sales.

[Trades with cats]

Oh come on now! Good looking breakout turns into a twin tower. Just tear another piece of my heat out baby!

[fehro]

not sure .. sloppy little H&S SPX , SPY 5m intra day… target is yHOD or/and open price gap ..VIX is weak… dribble lower