05/04/2019 Weekend Update

[Cobra]

Up 2 weeks in a row, the next week has 77% chances to make a higher high so bulls seem ok.

[Al_Dente]

Banks are strong, currently testing a breakout (double-top resistance)
Another ~point up above the breakout is where they will test a long-term inverted H&S neckline
Daily

1 year bank performance
If I had SPY in there, it would show a 14.13% gain for the same period, FYI

[BullBear52x]

From "It is what it is department Sell the rip on 1 hour. new HH will reset this bearish view. This weekend a talk in trading world sphere is 3000 SPX, it is not "IF" but "When". for show me the money mind, show me the new high. Keep it simple, Peace!

[1der]

“Someone” must have been getting all his short positions in place on Friday! This will be interesting

https://www.cnbc.com/amp/2019/05/05/tru ... riday.html

[Al_Dente]

Check yr futures
https://finviz.com/futures_charts.ashx?t=INDICES&p=m5

[1der]

Check yr futures
https://finviz.com/futures_charts.ashx?t=INDICES&p=m5

Yep, that was why so posted the article earlier. So f’g ridiculous ..... he just woke up this morning and decided that? Really? Yeah........

[BullBear52x]

Last Wednesday market warning with a daily bearish engulfing with confirmation on following day (Thursday) Friday market rally disregard of what the TA internals were telling. By end of day Friday the market printed another warning on a weekly, a Hanging man candle.

I posted negative bearish cross indicators to warn on my "chart for the road" Friday. Cobra has been warning on Hourly sell coupon and LL ahead. TA side of thing never suggest a solid gain other than FOMO.

Today futures shows, TA is working and for a better or for worst it did gave us a warning. Wish I have shorts position overnight but for me, tomorrow is another day. Wish you were in is better than wish your were out!

longer term chart to ponder Go TA Go!

[Cobra]

Futures down sharply on Trump twitter. personally now I understand the "art of negotiation" is to keep changing so that nobody can trust you. The result is, strong mind would leave the table, no more talk, but weak opponent, who may lose patience then may back further. The question is China is strong hand or weak opponent? We'll know soon. But for Trump, it's a big gamble if China decides to leave the table, as the election is coming, he cannot afford the recession.

[1der]

Asian markets down large - Shanghai nearly 6%