09/10/2018 Live Update

[Trades with cats]

With 2000 tick chart it is a range trading both sides of EMA but what shows on your 5 minute charts is every time it goes above VWAP it stalls out into a congested mess.

[Al_Dente]

FROM FRIDAY
buybacks vs insider seling:
I need to read this again:
from Goldman's buyback desk, stock buyback authorizations in 2018 had increased to a record $1.0 trillion - a 46% rise from last year.
According to data compiled by TrimTabs, insider selling reached $450 million daily in August, the highest level this year; on a monthly basis, insiders sold more than $10 billion of their stock, the most of any month this year and near the most on record.
https://www.zerohedge.com/news/2018-09- ... to+zero%29

[Al_Dente]

This tells me to watch for a bounce any day in SMALLS

[te_fern]

I posted this in the weekend update, but here it is again. Gives us some levels to watch:

Coolbiz just posted his current view:

SPX Bearish EDT is updated has higher probability of 55% as long as it does not close above 2895 on a retrace up and breaks 2802.49 to confirm.
Bullish is an ALT. low probability of 45% (in a Wave (ii) down of a Minute [iii] correcting.

[te_fern]

The Qs just fell thru its MA line....

[Al_Dente]

TRANSPORTS strong ATH
Seems like that’s a vote for a positive resolution of the trade wars [??]
Rails are strongest

[Cobra]

members only update at 12:08 pm
http://www.cobrasmarketview.com/2018/09 ... ay-update/

[Trades with cats]

ES 2878 is where I see some support. But really I am pretty sure everybody and their cousin sees Friday's low as something that will probably be tested some time this week unless the Central Bank chat fest on thursday levitates the heck out of things.

[ccash04]

Seems like there is going to be a rug pull sometime

[Trades with cats]

tin foil.png (225.1 KiB) Viewed 3068 times

Pasta Boss, thanks for that update on buybacks and insider selling. I knew they were using the Orange Swan's tax gift to full advantage but until the numbers come out you can sort of feel like you're wearing a tin foil hat.

[Al_Dente]

tin foil.png

Pasta Boss, thanks for that update on buybacks and insider selling. I knew they were using the Orange Swan's tax gift to full advantage but until the numbers come out you can sort of feel like you're wearing a tin foil hat.

[Daniel]

Big story of the day so far is the strong bull bar in IWM to an abrupt new HOD... followed immediately by a steady washout. IWM is now close to a gap fill, all gains on the day nearly gone.

[Daniel]

With a modest VIX crush (now just over 14, near its lod) and still decently positive breadth, it seems SPY should be doing better. Key may be up/down volume, which is now barely bullish after having been 3:1 positive near the open.

[Trades with cats]

ES the cumulative Delta (bid ask crossers) is negative 8,600, so while it really hasn't gone anywhere yet it is definitely a negative day.

[Trades with cats]

Looking at my 15 minute equivalent chart all the positive move from Brexit deal could be negotiated in six weeks has gone away and we are chewing through what ever it was that caused that nice bull bar when the Asian markets were on their own. Too bad for bears Fridays volume profile doesn't have many elevator drops in it. If we keep going down it looks like a grind.

[Al_Dente]

see three days of QQQ
Descending Triangle
“I've made a lot of money trading this pattern”
http://thepatternsite.com/dt.html

[JFR]

Back to earth.

Back later ...

[Daniel]

TLT is up only modestly, and UUP is down slightly. Not exactly a risk-off flite to safety trade profile. RSP (equal weight S&P500) and NYSE breadth are showing the greatest strength.

[Daniel]

IBB is now red. And note that XBI dropped faster and sooner--XBI is now down ca 0.3%

..IYT now over 208, fresh ATH.

[Al_Dente]

“Six Characteristics of Successful Traders”
http://traderfeed.blogspot.com/2018/09/ ... ssful.html