06/21/2018 Live Update

[Daniel]

IWM testing the Mon/Tues high, may serve as support.

Now down to the 168 level, a revisit/retest of the multi-week breakout area.

[Daniel]

IYT breaking below Tues's low of the week

[Al_Dente]

this morning
supreme court
states can require tax on internet sales
that should hurt AMZN, et.al.

[Daniel]

this morning supreme court states can require tax on internet sales, that should hurt AMZN, et.al.

AMZN immediately plunged to a low of 1720, right AT its 15min 200ema.. now recovering about 1/3 of that sudden drop.

[Daniel]

2740 on SPX has been a good support area in prior weeks, and today's low (so far) stopped right about there.

IWM is showing some buy interest, w an initial strong kick off that 168 breakout retest area... has been a market leader, so a move back above 168.50 could signal an overall low for the majors.

[QED]

10am: The Conference Board's Leading Economic Index increased 0.2% in May (Briefing.com consensus +0.4%), and the April increase was left unrevised at 0.4%.

The Conference Board Leading Economic Index® (LEI) for the U.S.

https://www.conference-board.org/pdf_fr ... 202018.pdf
.

[Al_Dente]

this morning
supreme court
states can require tax on internet sales
that should hurt AMZN, et.al.

note ebay
below 200sma again

[Daniel]

FXI down >2%, at fresh LOD, and a new 20day low.

[Daniel]

AAPL was up nearly 1% a short while ago, and was helping to offset the weakness in the semis, leaving QQQ basicly flat.
USO has seen a sharp recovery in the past 15min, but XLE and XOP are still down >1%

AAPL now in danger of going red.
USO has recovered its early morning losses, now flat on the day-- but XLE and XOP have shed all of their recovery move, and are back near the lows.

[Daniel]

Naz and NYSE up/down volume is about 2/1 bearish... and near the worst levels of the day.

[te_fern]

TICKs appeared to have gotten oversold, turning back up to their MA lines....

[Al_Dente]

TOP TECH
% one month only
(outperformer NFLX is on its own panel, below)
note that two of the stocks below zero (red line) are dow stocks (INTC, CSCO)
(news this morning: INTC CEO stepped down)

[te_fern]

coolbiz reiterated that 2743 is his line in the sand for re-evaluating his ST bull mode....

[te_fern]

Can see why 2743 is important....

[fehro]

buckle up for the downside

SPX choppy here.. resistance.. mind all those open gaps… big fast moves coming

mind SPX 2745 it goes.. look for -50point drop.. /ES 2751 bearish wedge it goes… -100point drop

looking for a stall here . mind LOD (20d SMA) .. it goes .. won't be pretty

[QED]

Steppin' in a Slide Zone
https://www.youtube.com/watch?v=IFBDgYbSWg8

[MrMiyagi]

QQQ 30-min 20ema at the line, above $176.90 we may have a winner.

[te_fern]

Couldn't help myself, Bios have just been too strong. Get on board!!

[cletus]

As cobra says, "the rebound will be sold". Folks, we need that intraday selling to flush out the buyers before any rally.

[te_fern]

As cobra says, "the rebound will be sold". Folks, we need that intraday selling to flush out the buyers before any rally.

Well, there was the first down flush...