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05/17/2018 Live Update

Re: 05/17/2018 Live Update

Postby Trades with cats » Thu May 17, 2018 11:48 am

daytrading ES
Ha Ha Totally agree the public longer term forecasts of the big banks are worthless. I put that in as an interesting co-incidence.
They would all do very well as fortune tellers in a carnival as they have mastered ambiguity.

My exception is Harknet at Merrill B of A. But they are the only non-New York major bank. He has had the courage to say unpleasant things about the future and his timing has not always been good (just ask Pasta Boss about that) and bad timing is the same as a bad forecast. No one has had the timing right on when the Fed's change would affect markets and now the New York crowd is working hard to blind the public to the change (business as usual).
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Re: 05/17/2018 Live Update

Postby QED » Thu May 17, 2018 11:49 am

.
The Federal Reserve Is Driving the Economy into a Ditch

"We must understand that we no longer have economic cycles.
We have credit cycles that ebb and flow with monetary policy."


https://schiffgold.com/key-gold-news/th ... o-a-ditch/

.
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Re: 05/17/2018 Live Update

Postby fehro » Thu May 17, 2018 12:00 pm

fehro wrote:
fehro wrote:
fehro wrote:
try again at white :roll: 2730.50


still a tad iffy here..lower white.. target..


Iffy becoming "possibly" doable :roll: :lol:


:)
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Re: 05/17/2018 Live Update

Postby Trades with cats » Thu May 17, 2018 12:01 pm

The Tokyo high (overnight high) stopped the up move for 5 minutes then became support. Now it is acting as support in this attempt at a down move. Or I could be reading it wrong because it is about equal to the 1 hour opening range. I keep trying to eliminate lines on my charts but yesterday's key levels as well as the overnight jhigh and low seem to enter into things regularly along with those pivot points.
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Re: 05/17/2018 Live Update

Postby Cobra » Thu May 17, 2018 12:01 pm


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Re: 05/17/2018 Live Update

Postby Cobra » Thu May 17, 2018 12:02 pm

pullback is larger than I'd like to see but still too early to say bulls are over.
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Re: 05/17/2018 Live Update

Postby te_fern » Thu May 17, 2018 12:31 pm

Back tested the line and now a small rally. Let's see what happens....
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Re: 05/17/2018 Live Update

Postby fehro » Thu May 17, 2018 12:45 pm

fehro wrote:
fehro wrote:
fehro wrote:
fehro wrote:try again at white :roll: 2730.50

still a tad iffy here..lower white.. target..

Iffy becoming "possibly" doable :roll: :lol:

:)

:D
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Screen Shot 2018-05-17 at 9.44.57 AM.png
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Re: 05/17/2018 Live Update

Postby Trades with cats » Thu May 17, 2018 12:49 pm

Second spike down today, same result as the first, so far only in slow motion.
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Re: 05/17/2018 Live Update

Postby Trades with cats » Thu May 17, 2018 12:50 pm

Same size spike also. Must mean something.
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Re: 05/17/2018 Live Update

Postby fehro » Thu May 17, 2018 1:05 pm

cheeky :roll: come to papa.. almost there
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Re: 05/17/2018 Live Update

Postby te_fern » Thu May 17, 2018 1:06 pm

fehro wrote:cheeky :roll: come to papa.. almost there


Good call!
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Re: 05/17/2018 Live Update

Postby te_fern » Thu May 17, 2018 1:08 pm

Now testing the trend line from the underside!!!
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Re: 05/17/2018 Live Update

Postby fehro » Thu May 17, 2018 1:13 pm

te_fern wrote:
fehro wrote:cheeky :roll: come to papa.. almost there


Good call!


thanks.. shaky at the entry … may see Thur's gap fill for crazy target
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Re: 05/17/2018 Live Update

Postby Trades with cats » Thu May 17, 2018 1:15 pm

Half an hour trapped between yesterday's close and the Daily Pivot, a two point range in the ES.
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Re: 05/17/2018 Live Update

Postby fehro » Thu May 17, 2018 1:19 pm

Trades with cats wrote:Half an hour trapped between yesterday's close and the Daily Pivot, a two point range in the ES.


still early..triangle for more chop fwiw
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Re: 05/17/2018 Live Update

Postby Trades with cats » Thu May 17, 2018 1:32 pm

ES 06-18 (15 Minute) 2018_05_17.png
15 minute bars

This is my 15 minute view. I moved the volume profile over to the right side and circled the three rapid moves (so far) through that low volume node just blow the current range. You will note that each of those moves generated a spike in the relative volume so someone had to open their wallet to make those happen cough New York Fed cough. :lol:
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Re: 05/17/2018 Live Update

Postby Trades with cats » Thu May 17, 2018 1:35 pm

I should add if that looks like a normal distribution around the Point of Control then as my father used to say "I'll kiss your a** in Macy's window". :lol:
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Re: 05/17/2018 Live Update

Postby Al_Dente » Thu May 17, 2018 1:39 pm

FWIW
Doug Kass (a respected smarty-pants) wants you to “consider derisking, now”
He’s even making up new words (“orange swan”)
“Technicals and resistance points mark a short term threat to stocks…. [and yesterday]… David Rosenberg remarked, on CNBC, that on breadth and volume the rally has been less powerful than recent rallies.”
https://www.zerohedge.com/news/2018-05- ... to+zero%29
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Re: 05/17/2018 Live Update

Postby te_fern » Thu May 17, 2018 1:45 pm

fehro, hope you still have your short....
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