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05/24/2018 Live Update

Re: 05/24/2018 Live Update

Postby fehro » Thu May 24, 2018 10:27 am

fehro wrote:
fehro wrote:/ES SPX … mind the pink bear flag SPX .. mind the morning gap



bear flag breaking ..mind lower gap.. and 20d/50ds indexes


Slipping..
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Screen Shot 2018-05-24 at 7.26.25 AM.png
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Re: 05/24/2018 Live Update

Postby Daniel » Thu May 24, 2018 10:27 am

Market has shrugged off international news and tariff rumors many times, question imo is where to buy the resulting dip today.

BTWD!!

(buy the welcome dip)
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Re: 05/24/2018 Live Update

Postby QED » Thu May 24, 2018 10:32 am

1der wrote:SPY New PBar overnight at 271.25
SPY 052418_01.jpg

That is not a P-Bar, that is a "tractor beam." :o :shock: :? :lol:
http://www.startrek.com/database_article/tractor-beam
.
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Re: 05/24/2018 Live Update

Postby 1der » Thu May 24, 2018 10:32 am

SPY 1 min chart showing Open (Blue) and closed (Gold) Pbars - They play a role, imho. But how to use this to trade??
And as I write, they 271.25 PBar is coming into play. The old PBas provided support/resistance points


SPY 052418_02.jpg
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Re: 05/24/2018 Live Update

Postby Trades with cats » Thu May 24, 2018 10:34 am

Carmeggedon is already picking up speed. Auto companies and production levels are rolling over. Expect extended factory closures this summer. Surf the net for charts of upcoming lease returns https://www.youtube.com/watch?v=I54wGOSg_BQ Yoda "you will be" (afraid).
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Re: 05/24/2018 Live Update

Postby Cobra » Thu May 24, 2018 10:35 am

testing yesterday's low now, key time.
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Re: 05/24/2018 Live Update

Postby Al_Dente » Thu May 24, 2018 10:36 am

Junior Buffett wrote:Trump the great turn around again...NK meeting cancelled
I am also hearing that there will be big tariff on car import..which makes sense with his comment couple of days ago to autoworkers that he has a big pleasant surprise for them!

thanks for posting that letter :D
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Re: 05/24/2018 Live Update

Postby Daniel » Thu May 24, 2018 10:41 am

Cobra wrote:testing yesterday's low now, key time.

SPY never quite reached yest low, and now strongly bouncing from that general support area btw 271 and 272.
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Re: 05/24/2018 Live Update

Postby fehro » Thu May 24, 2018 10:43 am

fehro wrote:
fehro wrote:
fehro wrote:/ES SPX … mind the pink bear flag SPX .. mind the morning gap



bear flag breaking ..mind lower gap.. and 20d/50ds indexes


Slipping..



IWM RUT weak.. took out yLOD.. mind the H&S on IWM 5m 1week… retests neckline here.. LOD goes.. target is $-2.33 159ish
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Re: 05/24/2018 Live Update

Postby Cobra » Thu May 24, 2018 10:45 am

mini rebound target, must exceed it before bulls have some chances.
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Re: 05/24/2018 Live Update

Postby 1der » Thu May 24, 2018 10:47 am

PBar congestion provided bounce point for a scalp. 1 min candle body held 271.25 level.

Tractor Beam :lol: :lol: :lol: :lol: :o :o
SPY 052418_03.jpg
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Postby MrMiyagi » Thu May 24, 2018 10:53 am

QQQ SPY Intraday double-bottoms or bust.
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Re: 05/24/2018 Live Update

Postby fehro » Thu May 24, 2018 10:55 am

fehro wrote:
fehro wrote:
fehro wrote:
fehro wrote:/ES SPX … mind the pink bear flag SPX .. mind the morning gap



bear flag breaking ..mind lower gap.. and 20d/50ds indexes


Slipping..



IWM RUT weak.. took out yLOD.. mind the H&S on IWM 5m 1week… retests neckline here.. LOD goes.. target is $-2.33 159ish


mind cyan channel 20d SMA 2695ish near gap fill
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Screen Shot 2018-05-24 at 7.54.51 AM.png
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Re: 05/24/2018 Live Update

Postby Al_Dente » Thu May 24, 2018 10:56 am

fehro wrote:............... mind the H&S on IWM 5m 1week… retests neckline here.. LOD goes.. target is $-2.33 159ish

FEHRO: IS THAT THE CORRECT NECKLINE WE'RE TESTING/BREAKING?
524iwm neck.png.png
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Postby MrMiyagi » Thu May 24, 2018 10:57 am

MrMiyagi wrote:QQQ SPY Intraday double-bottoms or bust.


BUST

Capture.PNG
sac
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Re: 05/24/2018 Live Update

Postby Cobra » Thu May 24, 2018 11:00 am

breakdown the last low, now let's see if as usual any sharp reversal to trap bulls. Keep going down or consolidation would mean this bear may still have legs.
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Re: 05/24/2018 Live Update

Postby fehro » Thu May 24, 2018 11:06 am

Al_Dente wrote:
fehro wrote:............... mind the H&S on IWM 5m 1week… retests neckline here.. LOD goes.. target is $-2.33 159ish

FEHRO: IS THAT THE CORRECT NECKLINE WE'RE TESTING/BREAKING?
The attachment 524iwm neck.png.png is no longer available



yes ish :roll: :) :lol: .. could be another larger complex one.. forming too.. pull back farther
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524iwm_20neck_png.png
Last edited by fehro on Thu May 24, 2018 11:07 am, edited 1 time in total.
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Re: 05/24/2018 Live Update

Postby Cobra » Thu May 24, 2018 11:06 am

sharp rebound upon breakdown as usual, sign. now let's apply the mini target. exceeds it only means bulls took the 1st step toward stable, it doesn't mean bears are over.
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Re: 05/24/2018 Live Update

Postby Al_Dente » Thu May 24, 2018 11:08 am

fehro wrote:yes ish :roll: :) :lol: .. could be another larger complex one.. forming too.. pull back farther

thanks boss :D
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Re: 05/24/2018 Live Update

Postby Cobra » Thu May 24, 2018 11:11 am

OK, now wait to see how the ema20 gets tested. should be another leg down to test the day low again, but if it simply breaks the ema20, then bears might be over for today.
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