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07/03/2019 Live Update

07/03/2019 Live Update

Postby Cobra » Wed Jul 03, 2019 9:24 am

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no idea up or down from here, shortened trading day today, close at 1 pm, please don't forget.
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Re: 07/03/2019 Live Update

Postby Cobra » Wed Jul 03, 2019 9:27 am


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Re: 07/03/2019 Live Update

Postby JFR » Wed Jul 03, 2019 9:39 am

Overnight gap up on DIA, IWM, QQQ and SPY. IWM has filled its gap.


2019-07-03_0637.png
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Re: 07/03/2019 Live Update

Postby Cobra » Wed Jul 03, 2019 10:01 am


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Re: 07/03/2019 Live Update

Postby JFR » Wed Jul 03, 2019 10:03 am

Big picture. New high for the year. Never going down again? Of course it will. At some point.

Back later ...


2019-07-03_0700.png
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Re: 07/03/2019 Live Update

Postby Mr. BachNut » Wed Jul 03, 2019 10:03 am

BachNut does bear porn! Come and get it!
Just for fun before I check out for an afternoon of hotdogs and beer by the pool....

I am going to put up a few charts not to argue a bear case but to suggest we are entering a decision zone where chart evolution over the next few weeks could be interesting.
As you all know, I haven't got a clue what will happen.
I am still long.

I have been watching the Dow and looking for a new all time high.
We are close and if we get it in the next few days (light holiday trade?), imaginative bears can ponder a broadening top formation.
I give it some interest because time volume and money flow have been soft and divergent into these highs.
While price can climb a fair bit more in this formation, I would not expect much and anticipate a reversal if these indicators soften further.
Conversely, if new price highs trigger strong money flow, bearish odds decline, and the bull case looks good.

DJBT.jpg
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Re: 07/03/2019 Live Update

Postby Mr. BachNut » Wed Jul 03, 2019 10:08 am

The S&P could already be in a broadening formation.

If per chance things reversed hard next week and closed this weeks big gap, bears can dream about an exhaustion gap.
No reason to believe that will happen.

SPBT.jpg
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Re: 07/03/2019 Live Update

Postby Cobra » Wed Jul 03, 2019 10:09 am

only half day trading so today should be generally up but boring as big guys are gone.
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Re: 07/03/2019 Live Update

Postby Mr. BachNut » Wed Jul 03, 2019 10:11 am

NASDAQ double top?

It is interesting that the NASDAQ, which has been leading courtesy of the FAANGs, is now lagging.
The generals may have left the battlefield, and maybe new leadership needs to clarify ahead.
Let's see what happens.

NDDT.jpg
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Re: 07/03/2019 Live Update

Postby Mr. BachNut » Wed Jul 03, 2019 10:20 am

The Russell has been a laggard.

Perhaps a diamond top or simply a lower high ahead?
I am watching the green and red necklines for potential clarity.

The bottom line is that the bull can continue, perhaps for a fair distance and a fair while.
However, charts across all four indexes (once the Dow makes another high) allow one to entertain the possibility of a bearish turn in the weeks ahead.

RTDT.jpg
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Re: 07/03/2019 Live Update

Postby Mr. BachNut » Wed Jul 03, 2019 10:22 am

Cobra wrote:only half day trading so today should be generally up but boring as big guys are gone.


This little guy is about to be gone.
Happy 4th everyone! :D
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Re: 07/03/2019 Live Update

Postby ccash04 » Wed Jul 03, 2019 10:24 am

Hourly RSI (2) at 98, usually means upside is capped, low volume day so anything can happen but usually when it hits next few bars are red. Playing it short but very small position.
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Re: 07/03/2019 Live Update

Postby Al_Dente » Wed Jul 03, 2019 11:31 am

The SPX equal weight, RSP, did not yet confirm the ATH in SPX today.
Last time it non-confirmed was 6/21. A three-day pullback followed.

UPDATE:
CANCEL THAT: RSP just made an ATH
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Re: 07/03/2019 Live Update

Postby Cobra » Wed Jul 03, 2019 12:04 pm


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Re: 07/03/2019 Live Update

Postby Al_Dente » Wed Jul 03, 2019 12:12 pm

HAPPY HOUR started at 12:00 ET
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Re: 07/03/2019 Live Update

Postby Al_Dente » Wed Jul 03, 2019 12:26 pm

Instagram and Facebook are down
Now “Twitter Experiencing Issues With DM Delivery and Notifications”
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Re: 07/03/2019 Live Update

Postby Cobra » Wed Jul 03, 2019 12:49 pm


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Re: 07/03/2019 Live Update

Postby Cobra » Wed Jul 03, 2019 12:51 pm

well, guess that's it for today. Here's what Friday looks like. thank you guys, I'll see you in another thread soon.

before the close, please take a little time to vote for me, thanks. https://stockcharts.com/public/1684859/tenpp
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