10/02/2018 Live Update

[Trades with cats]

It's Deja Vu all over again, only on a 20 minute time delay from yesterday. Second issue, not exactly a clear bull trend morning. Well at least the double top process is similar so far, unknown part is will the bears step in soon for a mild afternoon sell off.

[Al_Dente]

FAST MONEY, last night, 10/1
“This is the end of the bull rally as we know it, says Morgan Stanley”

https://www.youtube.com/watch?v=Fuop1K5E7mU

MS loves healthcare and tech, and energy
Rotation to defensive sectors since june; more of that is coming...
Trade: new NAFTA means little; it’s all about China … it’s going to get scary again…

[Al_Dente]

SMALLS are starting to “megaphone” on the daily chart
http://thepatternsite.com/dbw.html
“The breakout direction is upward 79% of the time.”

[Cobra]

members only update at 12:05 pm
http://www.cobrasmarketview.com/2018/10 ... ay-update/

[Cobra]

this bull shall have legs.

[brokebybernacke2]

man o man, something is gonna give soon, it just doesnt feel right at all, waiting for a gut buster move...without smallies and financials, market cannot get up..either those reverse dramatically or hatch batten...imho

[Al_Dente]

dow up, smalls down
"The last time this happened was at the height of the dot-com bubble (1999-2000)."
[i haven't studied this in detail yet...]
https://bullmarkets.co/stock-market-like-1999/

[add more:]
"This is the biggest outperformance of Dow over Small Caps since Oct 2011."
https://www.zerohedge.com/news/2018-10- ... to+zero%29

[te_fern]

TICKs are still below their MA lines, not enough bull yet to change....

[Cobra]

possible double top.

[Al_Dente]

hello
isn't that an ATH on the dow $INDU today?
[edit: yes, yes it is.....]

[Al_Dente]

.... done.........

[Trades with cats]

prior to the Dot Com blow up european hot money flowed into the DOW. I wonder if the same thing is happening again, given all the current issues. After All, if you want to park several million in the US dollar would it not be the DOW and Treasuries?

[BullBear52x]

maybe today or tomorrow, 2940ish Fib ext. peace out!

[te_fern]

Will the trendline hold??

[Trades with cats]

Order book looks like lots of sell orders waiting at the days high. Kinda need to see a few more bars!

[Cobra]

i think breakout is more likely.

[Trades with cats]

ES VWAP 2930.5

[Al_Dente]

HAPPY HOUR

[Daniel]

IWM fresh lod. Amazing downtrend on the Russell 2000--since its recent high at 9:31am on Oct.1 it has been nearly straight down.

[Daniel]

GDX up 2.5%... new quarter rotation?