06/06/2018 Live Update

[fehro]

bull trap? .. SPX dangerous here.. if she stalls. nibble short for long term swing

pink line is red line here.. so key.. .. don;t like those HUGE gaps under us.. this could get fugly beyond belief

[Wallstreetrader]

65 is a gift

[johnnywa]

65 is a gift

D-O-U-B-T

[fehro]

bull trap? .. SPX dangerous here.. if she stalls. nibble short for long term swing

the more I look at this.. plus divering indexes tops… yikes .. this could it be for months, to a year or two

[K447]

...
the more I look at this.. plus divering indexes tops… yikes .. this could it be for months, to a year or two

Basis for the time frame range?

[Trades with cats]

2 minute bars

2 minute regular trading hours for the ES. Be aware that ES closes at 4:15 so end of day is different.
I am displaying the color of the Keltner for my own amusement, Keltner on a 20 period EMA as center line.
Dash lines in box 2 are the 14 bar DI + and - while the solid lines with a left side scale are a three factor EMA of their ROC.
Below the 20 day average relative volume is the bid ask delta. I think it works best when it diverges from price.

At this point it looks like the market has run out of traders willing to buy the high but who in their right mind wants to be a seller when Tim and Jeff are spending billions of shareholder cash (well in Jeff's case borrowed cash) to buy stock at all time highs.

[fehro]

...
the more I look at this.. plus divering indexes tops… yikes .. this could it be for months, to a year or two

Basis for the time frame range?

March 2020? 1500, 1475 SPX? 2007 highs retest? "IF" it plays out.. and SPX does NOT make new ATH

[Cobra]

the pullback probably will be bought.

[Wallstreetrader]

Bull flags 5m. everywhere breakout is eminent !
MArio buy some italian bonds they are almost 3% only negative thing on these...

[Al_Dente]

Regarding $NDX new highs, but $SPX far from highs
Tech is 25+% of SPX, so the other sectors (75%) must be in the toilet
SECTOR RELATIVE-STRENGTH-RATIOS show strong tech (ignore smalls for a moment; they are not in the SPX) and shows the other sector weaklings.
If you look at the far left of the charts, during the rally before the Feb crash, SPX had more help from the other sectors.
Bottom line: SPX needs some help from the other sectors.
daily

[Trades with cats]

Just read some bear porn about Microsoft. I had no idea they had a PE of over 80 after three years of declining revenue. The economists have a fancy word for stupid use of money. But the bottom line is as rates normalize and the borrowing for share buybacks becomes an albatross around managements neck and the Swiss National Bank stops printing money to buy US tech the calls for a repeat of 2000 crash will start to look reasonable. If only we knew the timing, but as Professors Rinhart and Rogoff said in their book you can not predict the A Ha moment when it all comes crashing down.

[fehro]

bull trap? .. SPX dangerous here.. if she stalls. nibble short for long term swing

the more I look at this.. plus divering indexes tops… yikes .. this could it be for months, to a year or two

spot the odd man out

[Al_Dente]

Kudlow speaking now

[Wallstreetrader]

false sorry

[Trades with cats]

With the FANGs plus friends all in a tax plan inspired buy back frenzy which index is free of their influence?

[fehro]

ITALY BAILOUT RUMOURS ??? ANYONE ???

if not.. then… you know who…

[Al_Dente]

new toy:
since fangs+ are leading the market, I put them (in the form of FDN) behind QQQ as a guide
when QQQ made a HOD at noon today, but FDN did not, I counted that as a neg diverg/sell signal intraday
perhaps good until fangs+ are no longer leading the market
just a thought, NEW TOY ONLY, grain of salt
2min

[1der]

With the FANGs plus friends all in a tax plan inspired buy back frenzy which index is free of their influence?

Reminds me of the Mortgage debacle. All the checks and balances supposedly built in to the process to "manage" risk were compromised. Underwriters, appraisers, real estate agents, banks all turned a blind eye to what was happening. I know first hand as I was in that business sector leading up to it. I saw good honest appraisers go out of business because they would not inflate the values. I saw real estate agents who were looking out for their clients who were trying to buy something they absolutely could not afford, get dropped and the buyer finding an agent who would work the system, I asked a Sun Trust rep about providing borrower financial info if we had it and was specifically told NOT to include not to include it submission. Perfect Storm that went on longer than I would have thought possible.

Looks the same here in the market. "Frenzy" is most appropriate, imho.

[1der]

re: PBars charts -

I was on a trial plan with Trading View for a month with included live data feeds. At the end of the month they wanted around $80/mo for the feeds in addition to the charting monthly fee. Unfortunately, TView does not have a relationship with IB that would allow me to link the data feeds I have there. So for now, PBar charts are gone until I can figure something else out,

[QED]

Just read some bear porn about Microsoft. I had no idea they had a PE of over 80 after three years of declining revenue.

PE of over 80???

Maybe not so much ...

MSFT - Microsoft Corporation

P/E = 28.37
Forward P/E = 25.45

https://finviz.com/quote.ashx?t=msft
.