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05/31/2019 Live Update

PostPosted: Fri May 31, 2019 9:21 am
by Cobra
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3 push down, so rebound is due soon if not now.

Re: 05/31/2019 Live Update

PostPosted: Fri May 31, 2019 9:24 am
by Cobra

Re: 05/31/2019 Live Update

PostPosted: Fri May 31, 2019 9:41 am
by Trades with cats
Clash of the Titans this morning. Buyers at 2752 and another pool down at 2740, neither was large.

Re: 05/31/2019 Live Update

PostPosted: Fri May 31, 2019 9:42 am
by Trades with cats
Big liquidity before the open (Bookmap software) ES 2764.50 up to 2769.

Re: 05/31/2019 Live Update

PostPosted: Fri May 31, 2019 10:02 am
by Cobra

Re: 05/31/2019 Live Update

PostPosted: Fri May 31, 2019 10:05 am
by Mr. BachNut
Quick update.

Bull fail.
Another day another gap.

The positive NYMO divergence reported yesterday is being re-aligned to go with price intra-day.
So, divergence gone.
We are back in the turn zone. So, let's see where things close.
We have now had three trips to the turn zone intra-day.
It is telling that bulls are not able to pull of a turn.

My beautiful RTY descending wedge broke down rather than up. Bearish.
These can turn into a channel or they can accelerate. :shock:
I have put a channel on this chart.
The next down gap target is within reach.
Let's see what happens.

I am sitting on my short runners.

NYMO 053119.jpg

Re: 05/31/2019 Live Update

PostPosted: Fri May 31, 2019 10:10 am
by Mr. BachNut
One more thing.

At the moment, we are looking at a daily, weekly, monthly close below the 200 day MA.
Not good.
Bulls need to recover this in days ahead before it turns into resistance.
If they do recover, the local low will set the terms for a pass/fail on the test.

Re: 05/31/2019 Live Update

PostPosted: Fri May 31, 2019 10:19 am
by ccash04
Semis working on closing that gap.

Re: 05/31/2019 Live Update

PostPosted: Fri May 31, 2019 10:21 am
by ccash04
Got long here for a bounce back towards 200 dma, quick trade.

Re: 05/31/2019 Live Update

PostPosted: Fri May 31, 2019 10:26 am
by Trades with cats
I do not know when pension funds do their re-balancing calculation. I know they did not know about the tweet in advance. But IF they still have 12 billion to deploy there could be a bounce. I am guessing that the New York broker dealer banks will be "helping" them, as well as managing increased corporate buybacks.

Re: 05/31/2019 Live Update

PostPosted: Fri May 31, 2019 10:37 am
by Trades with cats
Futures Trader 71 commented this morning that traders have to be pragmatic. So he doubts people would want to hold large positions over the weekend with the threat of a counter tweet or a statement from the Mexican government a very real possibility.

On a second theory, with Softbank and We Work both going to the credit markets rather than doing IPO's I think that is the evidence that the IPO window has closed for Ponzi scheme unicorns. Would also mean that Goldman and friends have less motivation to prop the market. Clear they have all ready gotten much of their own money out.

Third tin foil hat theory is that President is trying to force market down to trigger the Feds put so that money is flowing in advance of the election. If true it is working as rate cut odds are now 90% for the first quarter point cut before year end.

Re: 05/31/2019 Live Update

PostPosted: Fri May 31, 2019 10:40 am
by Heck
Two Overvalued of Three Option Sentiment Indicators = UP

https://tinyurl.com/y2nmr6hg

Re: 05/31/2019 Live Update

PostPosted: Fri May 31, 2019 10:46 am
by Trades with cats
ES 06-19 (2000 Tick) 2019_05_31 (8_38_29 AM).png

I am struggling with trend lines today. Still waiting for the big pool of sellers from before the open to be reached.

Re: 05/31/2019 Live Update

PostPosted: Fri May 31, 2019 10:48 am
by ccash04
Its go time

Re: 05/31/2019 Live Update

PostPosted: Fri May 31, 2019 10:53 am
by te_fern
Trades with cats wrote:I do not know when pension funds do their re-balancing calculation. I know they did not know about the tweet in advance. But IF they still have 12 billion to deploy there could be a bounce. I am guessing that the New York broker dealer banks will be "helping" them, as well as managing increased corporate buybacks.


TWC, when I worked for a pension plan we rebalanced the day after a trigger was hit between stocks and bonds. We didn't wait until the end of the month. I would think larger plans managing their own money rebalanced almost immediately, smaller plans using advisors may wait until the end of the month.

We received a report every morning showing where we were relative to rebalancing...

Re: 05/31/2019 Live Update

PostPosted: Fri May 31, 2019 10:58 am
by Trades with cats
Twitter feed says the big boys have been buying all morning, assuming covering their shorts.

Re: 05/31/2019 Live Update

PostPosted: Fri May 31, 2019 10:59 am
by brokebybernacke2
ccash04 wrote:Its go time


bullish reversal? needs to happen and push above this 2760 ish area soon..where is the tweet.

Re: 05/31/2019 Live Update

PostPosted: Fri May 31, 2019 11:00 am
by Al_Dente
te_fern wrote:
Trades with cats wrote:I do not know when pension funds do their re-balancing calculation. I know they did not know about the tweet in advance. But IF they still have 12 billion to deploy there could be a bounce. I am guessing that the New York broker dealer banks will be "helping" them, as well as managing increased corporate buybacks.

TWC, when I worked for a pension plan we rebalanced the day after a trigger was hit between stocks and bonds. We didn't wait until the end of the month. I would think larger plans managing their own money rebalanced almost immediately, smaller plans using advisors may wait until the end of the month.
We received a report every morning showing where we were relative to rebalancing...

what was the trigger, boss?

Re: 05/31/2019 Live Update

PostPosted: Fri May 31, 2019 11:02 am
by ccash04
brokebybernacke2 wrote:
ccash04 wrote:Its go time


bullish reversal? needs to happen and push above this 2760 ish area soon..where is the tweet.


Looked like it got 4 handles. Thought we would get more squeeze up... oh well agreed need to get above the 2760ish level, I'm looking for a test of 200 dma then who knows. moved up stops to at least get 2 handles of profit.

Re: 05/31/2019 Live Update

PostPosted: Fri May 31, 2019 11:02 am
by Cobra
probably it's the bear's last chance to make a downtrend day here. strong breakout would be either range day or uptrend day. key time.