12/17/2018 Live Update

[daytradingES]

10:27

High Est 2605.50
Actual High 2605.50
Dif= 0.00

Low Est 2570.50
Actual Low 2571.00
Dif= -0.50

[JFR]

Some resistance as price tests the previous day's close.

[JFR]

Riding the E Train. Back later.

[Cobra]

members only update at 12:00 pm
http://www.cobrasmarketview.com/2018/12 ... ay-update/

[Trades with cats]

No failure allowed for bulls here or we get a legit double top.

[Trades with cats]

Where are the buy programs when the bulls need them?

[debaser]

No failure allowed for bulls here or we get a legit double top.

Looks more like ascending triangle to me. Note QQQ made a higher high

[Trades with cats]

20 point drop in 30 minutes says to me the big boys have started selling again regardless of tech.

[Cobra]

members only update at 12:43 pm
http://www.cobrasmarketview.com/2018/12 ... ay-update/

[Cobra]

double top text book target. now clearly it's a range day.

[Trades with cats]

Two day volume profile tells the story.

[JFR]

Crash, boom, bang.

[JFR]

New York (CNN Business)The US stock market sank deeper into the red following sluggish economic reports on Monday and bad news from a couple of blue chip giants.

The Dow fell more than 200 points before bouncing back a bit. The S&P 500 hit its lowest level of the year. And the Nasdaq joined the Dow & S&P 500 in negative territory for 2018. All three indexes have plunged about 6% so far this December.

A weaker reading from the New York Federal Reserve about manufacturing in the Empire State and a drop in confidence from the nation's homebuilders weighed on the markets.

"Investors are zeroing in on this idea of slower growth for 2019," said Michael Arone, chief investment strategist at State Street Global Advisors. "More people are worried about a recession in late 2019 or 2020."

The political noise in Washington isn't helping either. President Trump, in a tweet Monday morning, repeated his criticism of the Federal Reserve for its recent rate hikes. The Fed meets Wednesday and is widely expected to raise rates again.

Excerpts

https://www.cnn.com/2018/12/17/investin ... index.html

[JFR]

J&J (JNJ) plunged 10% Friday following a bombshell report by Reuters alleging that J&J was aware its trademark baby powder contained asbestos. J&J has said the Reuters report is factually incorrect. But the stock still fell another 2% Monday.

Dow component UnitedHealth (UNH) fell nearly 2% after a federal judge in Texas ruled late Friday that the individual mandate of the Affordable Care Act, aka Obamacare, was unconstitutional. This is unlikely to affect health coverage for Americans for quite some time, but it does lead to further uncertainty about the ultimate fate of the landmark law.-- CNN

And Dow component Goldman Sachs (GS) was weighing on the broader market too. The Wall Street investment banking giant is in the middle of a scandal in Malaysia.

Shares of Goldman Sachs fell 2% Monday and are now down nearly 35% this year, making the stock the Dow's worst performer of 2018. -- CNN

Excerpts from the article.

[Al_Dente]

Today’s SPX new intraday low is 2566.44
The SPX Feb low was 2532.69
(your quotes may vary)

update
Today’s SPX fresh intraday low is 2553.00 (I keep updating this lower)

[Al_Dente]

Jeffery Gundlach: “This is definitely a bear market” [on CNBC]
From the moment Gundlach said that, all the major indices rolled over...
via zh

[daytradingES]

fell asleep and just woke up.
not a nice chart for bulls

[Al_Dente]

Potential dry powder is accumulating.
As of Wednesday [12/12], US money-market-fund assets held $3 trillion, which is the highest since March 2010.
[Hedgopia, Friday]

[brokebybernacke2]

vix breakout
see 253 or 248, prefer 248, everyone see 253...spy

[brokebybernacke2]

vix breakout
see 253 or 248, prefer 248, everyone see 253...spy

all part of force fed move. if fed dont move, see 233 spy. but that not likely imo