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05/07/2019 Live Update

PostPosted: Tue May 07, 2019 9:23 am
by Cobra
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no idea up or down from here but if sharp rebound from here then the low might be in because it'd be a higher low.

Re: 05/07/2019 Live Update

PostPosted: Tue May 07, 2019 9:27 am
by Cobra

Re: 05/07/2019 Live Update

PostPosted: Tue May 07, 2019 9:49 am
by Trades with cats
Looking for yesterday's low

Re: 05/07/2019 Live Update

PostPosted: Tue May 07, 2019 10:02 am
by Cobra

Re: 05/07/2019 Live Update

PostPosted: Tue May 07, 2019 10:04 am
by BullBear52x
Trades with cats wrote:Looking for yesterday's low

yep

Re: 05/07/2019 Live Update

PostPosted: Tue May 07, 2019 10:09 am
by JFR
Overnight gap down, and more, on ES, NQ, YM and IWM.


2019-05-07_0705.png

Re: 05/07/2019 Live Update

PostPosted: Tue May 07, 2019 10:14 am
by BullBear52x
Fearful market, I don't buy in a fearful market.

Re: 05/07/2019 Live Update

PostPosted: Tue May 07, 2019 10:18 am
by JFR
Some DOW stocks heading south.


2019-05-07_0717.png

Re: 05/07/2019 Live Update

PostPosted: Tue May 07, 2019 10:19 am
by BullBear52x
/ES supports

Re: 05/07/2019 Live Update

PostPosted: Tue May 07, 2019 10:21 am
by Trades with cats
Big boys must be taking a beating. They were all long oil and short the VIX. Showing that entries and exits are both important. :)

Re: 05/07/2019 Live Update

PostPosted: Tue May 07, 2019 10:23 am
by Trades with cats
Testing my upper trend line.

Re: 05/07/2019 Live Update

PostPosted: Tue May 07, 2019 10:25 am
by Mr. BachNut
The NYMO cycle remains down.
It is making fresh lows today after consolidating below the zero line for the last two weeks or so.
There is plenty of room before it reaches the turn zone or the oversold zone, which is to say there has not been any serious liquidation yet.

Price just tagged our benchmark of SPX 2893.24 for the cycle.
We have two down gap targets within striking distance at 2888.32 and 2778.20.
We now have two potential up gap targets above.
As the market is very headline driven at the moment, I would not rule out a surge to close the up gaps and test the high.
Tops can be a process, so bears may not be off to the races just yet. We shall see.
The April 1 gap is huge and now below the middle keltner band.
I am inclined to anticipate a choppy affair to get there, but I don't know what will happen.

I am short the SPX and flat the R2K.
My R2K short was stopped out for a loss at the new highs the other day. I actually have a buy signal on them now... :roll:
I added to SPX short on the bounce and have scaled out profit units with only a runner left.

NYMO 050719.jpg

Re: 05/07/2019 Live Update

PostPosted: Tue May 07, 2019 10:25 am
by Trades with cats
ES 06-19 (2000 Tick) _ ES 06-19 (2000 Tick) 2019_05_07 (8_22_27 AM).png

It looks like a good trend line, but they all get broken sometime.

Re: 05/07/2019 Live Update

PostPosted: Tue May 07, 2019 10:26 am
by BullBear52x
I think the bottom is in now. I am sell only today, so.... sit out and wait for new sell setup.

Re: 05/07/2019 Live Update

PostPosted: Tue May 07, 2019 10:28 am
by JFR
Finding some support.


2019-05-07_0727.png

Re: 05/07/2019 Live Update

PostPosted: Tue May 07, 2019 10:31 am
by Trades with cats
Micro futures off to a great start. Getting spammed by both my brokers last night so clearly that crowed is now going to push hard. Difficult for a swing trader to say no to the tax advantage and collateral requirements if you are trading under a six figure account in ETFs. Should pretty much be the end of people trading one contract on the ES.

Re: 05/07/2019 Live Update

PostPosted: Tue May 07, 2019 10:32 am
by te_fern
Would like to see it break back up thru last weeks low.....

Re: 05/07/2019 Live Update

PostPosted: Tue May 07, 2019 10:37 am
by BullBear52x
Buy >97
Sell < 95

cluster right around here, in any case no buy for me.

Re: 05/07/2019 Live Update

PostPosted: Tue May 07, 2019 10:41 am
by Trades with cats
te-fern I had not looked at a regular hours chart. Those gaps look like bomb craters! I have VWAP at 2901.50. You would think we would get there when the euro time zone crowed closes out their shorts for the day.

You saw the articles on how much Goldman gets for themselves plus several billion for clients on the Uber IPO so no way they let this get out of hand. Of course the White House will do what it can to help them get the market back up.

Re: 05/07/2019 Live Update

PostPosted: Tue May 07, 2019 10:41 am
by 1der
Yesterday morning had a SPY PBar at 288.17 that was not touched.