04/20/2018 Live Update

[Daniel]

NYSE and Naz advancers continue to improve, but both are still anemic.

[Daniel]

That 265-266 level on SPY sure seems to be a multi-week magnet. Back in that zone again, at the low of the day.

[Cobra]

general pattern.

[Daniel]

Strong 3day move in the dollar (UUP) has it flirting w a 3 month+ high today-- although well off that high just now.

[Trades with cats]

Lael Brainard, who speaks for the majority on the FOMC made it clear today that the market is still over priced. Wondering if the institutions are going to keep unloading.

[Trades with cats]

I was thinking that dollar move wasn't sustainable when the wire services said it was because of the DNC suing the Russian high command and the Trump campaign.

[Trades with cats]

Battle for the higher low, doesn't look like it is resolved yet.

[fehro]

Strong 3day move in the dollar (UUP) has it flirting w a 3 month+ high today-- although well off that high just now.

DXY testing 52 week downtrend.. diamond bottom, yellow triangle.. "could" see a +2% up move over the weekend.. (insert here) EURO news

[Daniel]

Another day in which Tech and Staples are sharing the low end of the perf diffusion pattern. KRE is a strong dog; financials in gen'l are less weak and hence relatively strong.

[Al_Dente]

HAPPY HOUR

[Daniel]

QQQ, SPY fresh lod. IWM is testing, may already be below prior low.

[Wallstreetrader]

Ugly close carefull bulls

[fehro]

SPX 20d 2644 worse case…

[Trades with cats]

Looking like, as Ferho suggested, Friday's close is a very real possibility. Even if a little of that gap is left open it will, as has been said, make a really great Doji on the weekly. Even the worst pension fund manager should be able to read that in time for month end re-balancing.

[Daniel]

Like SPY 265-66, the 162 level on QQQ has been highly-contested over the past weeks, serving first as support, then as resistance, and now...?

[Daniel]

HAPPY HOUR

Aspersions aside, it would clearly depend on the heat of the coffee at the point of sipping.

[Daniel]

SPX 20d 2644 worst case…

The classic move, after a tag of a downslope upper bollyband, is fully to the mid-band or 20day MA... in the case of SPY that would be about 264. The lower band, as a target, would be ca 257.

[Wallstreetrader]

Looking like, as Ferho suggested, Friday's close is a very real possibility. Even if a little of that gap is left open it will, as has been said, make a really great Doji on the weekly. Even the worst pension fund manager should be able to read that in time for month end re-balancing.

Very bearish on daily cpuld be algo descending triangle...

[daytradingES]

every try to write with the pen?
looks like a very challenged 5 yr old!
Anywho, its still a long way down to the bottom of the giraffe's throat
(that's for the chuckle Al!)

[Cobra]

still dashed blue arrow can happen and this is why hard to trade on the downside.