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05/02/2019 Live Update

Re: 05/02/2019 Live Update

Postby Trades with cats » Thu May 02, 2019 11:19 am

ES 2918 showing 800 buy contracts.
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Re: 05/02/2019 Live Update

Postby Trades with cats » Thu May 02, 2019 11:20 am

Poof they are traded. ES 2915.50 is what I show for the low around 1900 Eastern.
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Re: 05/02/2019 Live Update

Postby Trades with cats » Thu May 02, 2019 11:21 am

WOW, THIS BABY IS ON FIRE!
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Re: 05/02/2019 Live Update

Postby Trades with cats » Thu May 02, 2019 11:22 am

Getting a looong way away from the EMA.
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Re: 05/02/2019 Live Update

Postby Trades with cats » Thu May 02, 2019 11:28 am

ES 06-19 (8000 Tick) 2019_05_02 (9_23_41 AM).png

Again the blue line composite volume profile is from 4/12 to current. You can see where Morad (Futures Trader 71) is getting his premarket ideas from. Unusual for his primary and secondary scenario to work out sequentially. Waiting to see if number 2 completes with a move up for the rest of the day. :D
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Re: 05/02/2019 Live Update

Postby JFR » Thu May 02, 2019 11:41 am

Big picture. Pullback to the EMA20.


2019-05-02_0840.png
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Re: 05/02/2019 Live Update

Postby Cobra » Thu May 02, 2019 11:42 am

this bear may have legs.
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Re: 05/02/2019 Live Update

Postby JFR » Thu May 02, 2019 11:48 am

Some DOW stocks down today. DOW, DIS, CAT, MSFT, WBA, WMT.


2019-05-02_0846.png
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Re: 05/02/2019 Live Update

Postby JFR » Thu May 02, 2019 11:52 am

Moving on down, looking for support.


2019-05-02_0851.png
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Re: 05/02/2019 Live Update

Postby JFR » Thu May 02, 2019 12:03 pm

K447 wrote:Good morning all. Yesterday I was asked how I look at charts, and the market. Normally I listen and watch more than post but I felt I could share some of how I look at things.

Two posts outline in general how I look for broadening formation triangles and what I do with them.

viewtopic.php?f=2&t=3430#p268067

viewtopic.php?f=2&t=3430#p268062

I do sometimes work the triangles and related scenarios on shorter time frames, even intraday, but generally not nearly at the rapid pace of others in here.


Thanks for sharing, K447.
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Re: 05/02/2019 Live Update

Postby Mr. BachNut » Thu May 02, 2019 12:03 pm

Mr. BachNut making an appearance.

The NYMO cycle is down with a benchmark price of SPX 2893.24.

We just closed our first gap target at SPX 2907.97.
10 more Gap target possibilities below and 0 above.

The ascending wedge I have been dreaming about has broken.
Looks like it offers a target around the middle keltner band (currently SPX 2843+) maybe gap target just below (the big April 1 gap at 2834.40).

I have got some light short on (ES and RTY) with very wide stops.
Honored setup but keeping capacity to add on a bounce/backtest/squeeze thing. Maybe a mistake... :roll:
I would be kind of surprised though if the bulls just crumpled here.
Will scale out profit units at lower targets if it gets there.

NYMO 050219.jpg
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Re: 05/02/2019 Live Update

Postby Cobra » Thu May 02, 2019 12:16 pm


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Re: 05/02/2019 Live Update

Postby JFR » Thu May 02, 2019 12:18 pm

Finding some support. Temporary?


2019-05-02_0916.png
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Re: 05/02/2019 Live Update

Postby Trades with cats » Thu May 02, 2019 12:20 pm

ES 06-19 (2000 Tick) _ ES 06-19 (2000 Tick) 2019_05_02 (10_15_49 AM).png

Drew a tentative up channel by drawing the upper and draging it down. Clearly there is a middle line I havn't drawn yet. Right shape and slope for a slow up hill grind.

Don't forget House Staffers get the jobs report around 2 or 3 Washington time and they are, I think, once again exempt from insider trading regulations.
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Re: 05/02/2019 Live Update

Postby Trades with cats » Thu May 02, 2019 12:22 pm

2rd touch on my lower trend line, so it is looking more accurate.
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Re: 05/02/2019 Live Update

Postby Mr. BachNut » Thu May 02, 2019 12:22 pm

Some additional thoughts:

We haven't even tagged the 26 day MA yet.
That and the NYMO benchmark could provide support.

I would like to see a bounce and then lower lows on a daily chart before declaring a downtrend.

The uptrend was pretty smooth.
If we get a downtrend, it would be fair to anticipate it to be choppy offering swing possibilities in both directions.
Not a prediction. Just something to be prepared for and manage if it comes to be.
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Re: 05/02/2019 Live Update

Postby Cobra » Thu May 02, 2019 12:41 pm

1st test of ema20 in 2+ hours, watch for short setup.
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Re: 05/02/2019 Live Update

Postby Trades with cats » Thu May 02, 2019 12:44 pm

Mr. Bachnuts comment on volatility- Ha Ha Ha, Rolling on floor! Down market will have White House hyperventilating on CNBC and if Kudlow can't make it jump he will get a new Economic Jester! Will be a three ring circus for sure. :D
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Re: 05/02/2019 Live Update

Postby Trades with cats » Thu May 02, 2019 12:51 pm

ES 06-19 (2000 Tick) _ ES 06-19 (2000 Tick) 2019_05_02 (10_48_29 AM).png

Had to start over on my trend lines. I think this is the Stanley Cup Formation.
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Re: 05/02/2019 Live Update

Postby Trades with cats » Thu May 02, 2019 1:05 pm

Stephen Moore withdrawals from FOMC nomination. Zerohedge is begging Pres Trump to nominate A.O.C., I personally am holding out for Hamburgler.
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