05/24/2018 Live Update

[fehro]

pushing up mind cyan, white line next

looking to nibble short near here .. 2725ish

[Daniel]

bears gave it back............... AGAIN............

What can one expect? As Cobra often says, surprises tend to occur (not surprisingly) in the direction of the dominant trend.

With market indexes near alltime highs, and longterm MAs all positively upsloping, surprises tend to be to the upside, and disappointments to the downside.

[Daniel]

An interesting development in the sector universe today is the surprising strength of FXI. Korean peninsula tensions are widely regarded as broadly bad for China, yet it is outperforming other EM majors today. The real dog of the bunch is Brazil (EWZ), down nearly 2%. Weakness in oil and the energy sector is adding to Brazil's woes.

[Al_Dente]

Merrill Lynch (BAC) has 17,000 financial advisers
Many are bracing for a pay cut
(the AVERAGE broker nets $420k annually)
https://eresearch.fidelity.com/eresearc ... NLINE&sb=1

[fehro]

pushing up mind cyan, white line next

looking to nibble short near here .. 2725ish

okay I'll bite.. not ideal.. 2726.25

[Cobra]

no idea whether the rebound will go all the way to the yesterday's high which is an obvious target though. I have no idea in which direction to trade.

[fehro]

pushing up mind cyan, white line next

looking to nibble short near here .. 2725ish

okay I'll bite.. not ideal.. 2726.25

.. green line… cyan horiz.. line.. somewhere in here… "may" stall .. if not up to gap fill

[QED]

no idea whether the rebound will go all the way to the yesterday's high which is an obvious target though. I have no idea in which direction to trade.

You need a hotline to Lloyd Blankfein!
Maybe if you change your avatar from Bernanke to Blankfein you can channel him.

[fehro]

pushing up mind cyan, white line next

looking to nibble short near here .. 2725ish

okay I'll bite.. not ideal.. 2726.25

.. green line… cyan horiz.. line.. somewhere in here… "may" stall .. if not up to gap fill

now

[Trades with cats]

Am amazed at how the opening print is a brick wall. But the drop and recovery today are sort of funny looking, especially the recovery. It is supposed to be a V at the bottom, not a range with a mini-double bottom. Pasta Boss called it, the first move up was text book but then it all went to a jumbled up mess.

[QED]

.
Reminder: The market will be closed on Monday (May 28th) because of Memorial Day.

The only people that will be trading after London closes tomorrow will be those that think they can beat the algos in low liquidity trading.
Good luck with that!
.

[Al_Dente]

McClellan's latest on the broken correlation between lumber and housing stocks
https://www.mcoscillator.com/learning_c ... ng_stocks/

[Trades with cats]

The free daily wrap up Monday thru Thursday I watch is Mack at http://priceactiontradingsystem.com/ on youtube. ( From him I am getting better at price channels)

Last night he said about Monday, " Well, if you want to sim trade it I guess that would be OK". Sounds like very good advice to me!

[Trades with cats]

2000 tick

Moving out of my price channel bouncing on the EMA but I sure don't see any strong signal bars.
Maybe Lloyd and his buddies are already headed for the Hampton s and as my Dad used to say "the shoe clerks are running the brokerage".

[1der]

SPY Pbar Update w price points

272.63 current level (previous PBar) is control point.

[Cobra]

H2 long? I said I won't trade, but I do think the pullback might be bought if not now.

[fehro]

grinding up .. goes for gap

[Trades with cats]

Is it a holiday at the Mariner Eccl es building? Where the heck is the Plunge Protection Team ?

[K447]

... Plunge Protection ...

Plunge? SPY is down about 80 cents

[Cobra]

double top? by the way, the H2 long was a winner. I didn't trade it but I still don't like being blamed just because of not knowing how to trade H2.