06/22/2018 Live Update

[Trades with cats]

Morad (FT71) had an interesting comment today. Looking at the charts there are a lot of bifurcated daily volume charts and the action from day to day has been up or down. Now, here we are in an area that has been traded through many times this year. (My take is it is like WW1 trench war) His point is that there is zero consensus on what is a fair price.

That is so different from last year when there was usually a clear consensus and the only question was spotting it when it moved.

[Trades with cats]

Back down to mid, VWAP 0.5 lower. Watching for a drop through to confirm double top and a fade into the sunset.

[Al_Dente]

re: tariffs
automobiles

[Al_Dente]

UPDATE
Last week I posted this chart of the Tech firms with the greatest $$ exposure to China
All down since then
(vertical line, roughly = China announces retaliatory tariffs)

[Al_Dente]

I’m posting my WEEK AT A GLANCE chart
VERY EARLY, just so you could see oil (pink)
Also so u can c how many are below ZERO (red line) on the week……so far….

[Trades with cats]

Wouldn't drop past VWAP so going for a triple top or Cobra's new high.

[Cobra]

ascending triangle, breakout more likely

[cletus]

It's the worst time of day to be long futures and cobra called it more likely to break higher again. I don't really get it.

[fehro]

buckle up

[Al_Dente]

potus LIVE now

[Trades with cats]

Cletus,
I am sure you are right over a large enough sample but on any given day the afternoon is what it is. Last 15 days or so looking pretty close to a coin flip. Especially as this turkey refuses to drop below VWAP this afternoon. I was ready and waiting and it was just trying to sucker me into a losing short position. Maybe POTUS will drop it.

[Al_Dente]

RHT is not in the QQQ
(best to double check)
this is what happens when a tech stock doesn't meet earnings estimates
"This stock had been on a roll, making it more vulnerable to quick market corrections"

[Al_Dente]

HAPPY HOUR

[Al_Dente]

Cletus, I am sure you are right ............

NOPE
Here's a better time frame. I think you may have originally posted it months ago [?]

9:30 am ET: typically an opening punch in either direction. Price may whipsaw a couple times, but usually one direction prevails. If there is a very little movement in the first 15 minutes, likely it'll be a slow day overall, wait for a big move to happen before trying to trade days like that.
9:45 am Whatever dominant direction the price initially moved in, this is usually the first big test. There is either a big pullback or reversal. Watch the strength of the pullback, it helps assess .......
10 am to 10:30 am usually another major correction against the recent trend. Could be pullback or reversal. Look at the overall context of the price movements and compare their strength to help assess what to do.
11:15 to 11:30 am London closes at 11:30 am ET. European traders are getting out of positions, so a new high/low is common, or the current daily high/low is tested. These are typically the last big moves before the lunch hour.
11:30 am to 1:30 pm Lunch hours. Typically quiet.
1:30 to 2 pm This is when trends are more likely to reassert themselves.
https://vantagepointtrading.com/time-of ... -patterns/

[Trades with cats]

Never forget summer Friday's when the decision makers have all left after lunch.

[1der]

Hmmmm, looks like Crude is providing support - up 5.5% today.

[Trades with cats]

Say,. why are we still here?

[Al_Dente]

I’m posting my WEEK AT A GLANCE chart
VERY EARLY, just so you could see oil (pink)
Also so u can c how many are below ZERO (red line) on the week……so far….

WEEK AT A GLANCE
even the biggie Smalls (cyan) lost it on the week
while treasurys (red dash) poked its head up above zero

[Al_Dente]

"Russell rebalance at the close today"
What are the implications of that?

[Cobra]

well, guess that's it for today. Monday has been generally bull friendly recently. thank you guys, I'll see you in another thread soon.

before the close, please take a little time to vote for me, thanks. http://stockcharts.com/public/1684859/tenpp