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05/30/2019 Live Update

PostPosted: Thu May 30, 2019 9:22 am
by Cobra
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normally should go down to revisit of the yesterday's low before a bottom can be possible, normally.

Re: 05/30/2019 Live Update

PostPosted: Thu May 30, 2019 9:24 am
by Cobra

Re: 05/30/2019 Live Update

PostPosted: Thu May 30, 2019 9:33 am
by Trades with cats
Futures Trader 71 is now showing us a Bookmap Pro screen every morning. Today the liquidity pool of resting orders is ES 27 93 to 95 and of course just below and up to 2800.

Re: 05/30/2019 Live Update

PostPosted: Thu May 30, 2019 10:00 am
by Trades with cats
ES 06-19 (2000 Tick) 2019_05_30 (7_55_03 AM).png

I am happy with my up channel from the overnight low so I expect it is about to get broken. :(

Likely scenario 2 for today was an opening thrust up followed by a sell off with the ultimate target around ES 2754. As opposed to senario 1 which was a drop to confirm yesterday's close (ok a gap fill) and then a move up for the rest of the day with a goal of es 2806.

Re: 05/30/2019 Live Update

PostPosted: Thu May 30, 2019 10:03 am
by Cobra

Re: 05/30/2019 Live Update

PostPosted: Thu May 30, 2019 10:21 am
by Al_Dente
AD issues
bullls are 3x bears
AD volume
bullls are 2x bears

Re: 05/30/2019 Live Update

PostPosted: Thu May 30, 2019 10:22 am
by Mr. BachNut
Yesterday was a fail on posting. Trying again today.
I don't allocate much time to this stuff. So if software glitches, I need to move on and get back to business.

Another day, another gap. :roll:
At the moment, we are trading between yesterday's and today's.
One and perhaps both can be resolved by weekend.

The NYMO cycle remains down.
However, we have a positive divergence with yesterday's price lows having a higher NYMO low than the prior low.
We also hit the NYMO turn zone again intraday yesterday.
This all coincided with a tag of the 200 MA.
These are conditions for a rally ahead.

Price hit another down gap target yesterday.
It also completed an inverse cup and handle pattern bringing the next two down targets (SPX 2743.07, 2709.80) and the lower keltner band onto the radar.
Generally, if prices loses a consolidation around the middle keltner, it proceeds to an outer keltner. We shall see.

So, price action is down but NYMO is suggesting a rally setting up under the surface.
A lot of folks have gotten short/bought puts and a lot of funds are about due to re-balance portfolios (sell bonds buy stocks).
Perhaps a squeeze may be in the cards between now and June OPEX (which is a triple witch).
I don't know what will happen but I have been of a mind that a down trend of recent ATHs would be noisy/choppy and not quiet/smooth.

My short runners are still on for SPX and R2K.
I tried some long hedge on last Friday, which flopped and stopped for a charge.
I have got some on again this morning but will BE stop.
This morning's gap may want to close.

The chart is as of yesterday's close. I shrunk it a bit in hopes of avoiding a glitch.

NYMO 052919.jpg

Re: 05/30/2019 Live Update

PostPosted: Thu May 30, 2019 10:24 am
by Mr. BachNut
Yay. It worked. :) Sorry if I grumbled yesterday.

Re: 05/30/2019 Live Update

PostPosted: Thu May 30, 2019 10:25 am
by Trades with cats
Crazy place for the day's high at ES 2797.75. You would expect a second run at 2800, but that would be too easy.

This is what happens when you start thinking about fried fake chicken.

Re: 05/30/2019 Live Update

PostPosted: Thu May 30, 2019 10:31 am
by Cobra
consolidation, bias is up. breakout with a strong bull bar would mean uptrend day.

Re: 05/30/2019 Live Update

PostPosted: Thu May 30, 2019 10:39 am
by Trades with cats
Second attempt to get through all the sell orders protecting ES 2800 failed. Too soon to say it is over.

Re: 05/30/2019 Live Update

PostPosted: Thu May 30, 2019 10:46 am
by Al_Dente
Mr. BachNut wrote:Yay. It worked. :) ......

THANK YOU MR. BACHNUT :D

Re: 05/30/2019 Live Update

PostPosted: Thu May 30, 2019 10:56 am
by Trades with cats
I was wrong, two strikes and your out so 2,800 remains untouched.

Re: 05/30/2019 Live Update

PostPosted: Thu May 30, 2019 10:56 am
by Cobra
failed breakout so now it's clear at the best for bulls it's just a range day.

Re: 05/30/2019 Live Update

PostPosted: Thu May 30, 2019 11:05 am
by Trades with cats
Trying to bounce off the Euro session low area, or will this fail and move down to the gap close.

Re: 05/30/2019 Live Update

PostPosted: Thu May 30, 2019 11:13 am
by Trades with cats
Intense moment here looking for a direction.

Re: 05/30/2019 Live Update

PostPosted: Thu May 30, 2019 11:20 am
by Mr. BachNut
Mr. BachNut wrote:I have got some on again this morning but will BE stop.


Out of hedge. Would like to see this morning's gap close.
May revisit hedge long provided yesterday's low holds.

Re: 05/30/2019 Live Update

PostPosted: Thu May 30, 2019 11:36 am
by Trades with cats
Hello Gap Close within sight, but the bulls arn't just rolling over yet.

Re: 05/30/2019 Live Update

PostPosted: Thu May 30, 2019 11:41 am
by Al_Dente
"This is not a knife… THAT's a knife." [Crocodile Dundee]

This is a Candlevolume chart, wherein the bars get fatter with more volume and skinnier with less volume.
You’ll have to slide your eyeballs to the left side of the chart to see what a real bear looks like.
By comparison, there’s not much selling here now, it looks like an orderly skinny-bar correction, with nobody panicking… yet.
Filling that gap today is pretty important for bulls, and it MUST hold.
DAILY
530candlevolume.png.png

Re: 05/30/2019 Live Update

PostPosted: Thu May 30, 2019 11:51 am
by Trades with cats
I love candle volume. I also love tick charts without equal bar spacing. I gave up on both for day trading because they really mess with your ability to draw trend lines. But I do say that daily view type view looks good.