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05/24/2019 Live Update

05/24/2019 Live Update

Postby Cobra » Fri May 24, 2019 9:25 am

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no idea up or down from here.
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Re: 05/24/2019 Live Update

Postby Cobra » Fri May 24, 2019 9:31 am


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Re: 05/24/2019 Live Update

Postby Trades with cats » Fri May 24, 2019 9:39 am

For what it's worth-
FT71 free broadcast today, looking for a 9 to 10 point range. Market currently playing out scenario 3, an oping pop up to ES 2843 then a drop down to 2822 with a finale move back to around the open for the close.
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Re: 05/24/2019 Live Update

Postby Al_Dente » Fri May 24, 2019 9:57 am

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Re: 05/24/2019 Live Update

Postby Al_Dente » Fri May 24, 2019 10:04 am

Descending Triangle can break either way... upward only 53% of the time, which is "random"
http://thepatternsite.com/dt.html
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Re: 05/24/2019 Live Update

Postby Cobra » Fri May 24, 2019 10:05 am


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Re: 05/24/2019 Live Update

Postby Trades with cats » Fri May 24, 2019 10:08 am

Similar but for all 4 major indexes.https://realinvestmentadvice.com/here-a ... right-now/

Admit I do not go through Cobra's massive chart book, a short coming I should be working on, but the underlying point is the same, every body who wants to look can see we are at a major inflection point. The three pillars for the bulls, earnings, trade truce and a dovish Fed have failed and the economic news going forward is nothing less that bad. And of course the cherry on top from the bond market.
Bonds and Recessions.png
Bonds and Recessions.png (23.81 KiB) Viewed 1054 times
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Re: 05/24/2019 Live Update

Postby Trades with cats » Fri May 24, 2019 10:18 am

ES 06-19 (2000 Tick) 2019_05_24 (8_14_02 AM).png

Well there goes my overnight major trend line (dark green) and into the box (range) we go. Hate to say it so early but this could be the 9 point range for today. Stopped raining and a lawn mower is calling to me. :lol:
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Re: 05/24/2019 Live Update

Postby Al_Dente » Fri May 24, 2019 10:26 am

Fibonacci
Yesterday IWM gave us a 38% retracement, drawn from the December low to the recent high.
SPX not yet
QQQ not yet
Daily
[your lines and numbers may vary because it's stockcharts]
524fib.png.png
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Re: 05/24/2019 Live Update

Postby Al_Dente » Fri May 24, 2019 10:32 am

[add]
Banks, KBE, 38% retrace also
$TRAN deeper than 38%, more like 45%
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Re: 05/24/2019 Live Update

Postby ccash04 » Fri May 24, 2019 10:35 am

time to close the gap and then head out for the weekend.
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Re: 05/24/2019 Live Update

Postby Cobra » Fri May 24, 2019 10:37 am

pullback to ema20, probably a rebound here first then we'll see. probably the last chance for a uptrend day here.
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Re: 05/24/2019 Live Update

Postby ccash04 » Fri May 24, 2019 10:49 am

Junk bonds negative and not showing nearly the strength of equities. Think equities catch down to junk here.
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Re: 05/24/2019 Live Update

Postby brokebybernacke2 » Fri May 24, 2019 10:55 am

3 day weekend. lots of tweet time! :P
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Re: 05/24/2019 Live Update

Postby Trades with cats » Fri May 24, 2019 11:07 am

ES 06-19 (2000 Tick) 2019_05_24 (9_01_06 AM).png

Busted my morning trend channel.
FT 71 has so far nailed the high and within a point of the low but of course this was his least likely scenario so as he says you can't just pre-program your trades. Credit where it was due for saying it out loud in front of 500 traders but realistically didn't most of us expect a gap fill?
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Re: 05/24/2019 Live Update

Postby Cobra » Fri May 24, 2019 11:45 am


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Re: 05/24/2019 Live Update

Postby Trades with cats » Fri May 24, 2019 12:41 pm

They say in the old days of floor traders they would be closing out positions and quietly heading to the bars to start their three day weekend around lunch time.
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Re: 05/24/2019 Live Update

Postby JFR » Fri May 24, 2019 1:42 pm

Overnight gap up on DIA, IWM, QQQ and SPY. QQQ and SPY fill the gap. Pullback to the EMA20.


2019-05-24_1041.png
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Re: 05/24/2019 Live Update

Postby Trades with cats » Fri May 24, 2019 1:50 pm

ES 06-19 (2000 Tick) 2019_05_24 (11_46_11 AM).png

Tangled at VWAP on my tick chart. Post euro zone trend lines working for now saying we should everntually get that flat on the day prediction.
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Re: 05/24/2019 Live Update

Postby Trades with cats » Fri May 24, 2019 2:01 pm

Clever people are suggesting that Tesla's lack of toilet paper could be solved by using their bonds. :D
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