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10/02/2019 Live Update

10/02/2019 Live Update

Postby Cobra » Wed Oct 02, 2019 9:23 am

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Re: 10/02/2019 Live Update

Postby Cobra » Wed Oct 02, 2019 9:27 am


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Re: 10/02/2019 Live Update

Postby JFR » Wed Oct 02, 2019 9:27 am

ES daily. Strong move down, out of the base, and beneath the EMA 20.


2019-10-02_0626.png
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Re: 10/02/2019 Live Update

Postby JFR » Wed Oct 02, 2019 9:29 am

ES five minute. Bounce up off support to the EMA 20.


2019-10-02_0628.png
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Re: 10/02/2019 Live Update

Postby JFR » Wed Oct 02, 2019 9:32 am

ES, et cetera. One minute. Overnight gap down.


2019-10-02_0631.png
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Re: 10/02/2019 Live Update

Postby JFR » Wed Oct 02, 2019 9:38 am

The DOW 30 is a sea of red. JNJ doing well.


2019-10-02_0637.png
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Re: 10/02/2019 Live Update

Postby JFR » Wed Oct 02, 2019 9:43 am

ES five minute. Crash. Boom. Bah.

Got some work to do. Back later.


2019-10-02_0642.png
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Re: 10/02/2019 Live Update

Postby brokebybernacke2 » Wed Oct 02, 2019 9:58 am

Having trouble taking my helmet off.
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Re: 10/02/2019 Live Update

Postby Cobra » Wed Oct 02, 2019 10:02 am


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Re: 10/02/2019 Live Update

Postby Mr. BachNut » Wed Oct 02, 2019 10:12 am

How quickly things change.

Two down gap targets closed this morning.
The next one is only about 12 handles lower.

We have a new up gap target at yesterday's close.

Price is coming into rising bottoms support now.
Let's see if there is any reaction between here and that next gap target at SPX 2887.94.

NYMO has reached the turn zone. The oversold zone is still a ways down.
This has been a very smooth and steady NYMO decline.
So, time to start being open minded about a NYMO low setting and watching what price does.

NYMO 100219.jpg
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Re: 10/02/2019 Live Update

Postby Cobra » Wed Oct 02, 2019 10:32 am

likely a downtrend day with a later day reversal up.
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Re: 10/02/2019 Live Update

Postby Mr. BachNut » Wed Oct 02, 2019 10:42 am

A couple of observations:

Price is pausing for the moment at the upper blue/orange rising bottoms line in posted chart.
Daily closes below the lower blue/orange rising bottoms line argue for the completion of an ascending wedge, which suggests a deeper correction.
Bulls kind of need to mount a defense to support the close.

The 200 day MA is the next area of important support.
If a test of that fails, the August low probably breaks and some serious liquidation could unfold.

Thar be big stops below the March and June lows in the 2720s.
Below those could be a good spot for capitulation.

After all that, one would consider a test of the December low as a possibility.

One day at a time though as I have no idea what will happen. :roll:
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Re: 10/02/2019 Live Update

Postby Al_Dente » Wed Oct 02, 2019 11:02 am

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Re: 10/02/2019 Live Update

Postby Cobra » Wed Oct 02, 2019 12:03 pm


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Re: 10/02/2019 Live Update

Postby BullBear52x » Wed Oct 02, 2019 12:33 pm

A knife catching contest starts :lol:
An old man once said be greedy when everyone else is fearful.
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Re: 10/02/2019 Live Update

Postby BullBear52x » Wed Oct 02, 2019 12:45 pm

Yesterday I didn't care to buy in on 3rd push, today I will have to reverse course here. Buy buy buy....
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Re: 10/02/2019 Live Update

Postby BullBear52x » Wed Oct 02, 2019 12:52 pm

TRIN and BB, now that we are out side of BB, I will watch TRIN closely if there is buyers stepping in or not, at this junction, TRIN <1 will trigger a buy for swing position.
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Re: 10/02/2019 Live Update

Postby Cobra » Wed Oct 02, 2019 12:53 pm

no touch of the EMA20 for many hours so it's a strong downtrend, bulls no chances yet, be careful.
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Re: 10/02/2019 Live Update

Postby BullBear52x » Wed Oct 02, 2019 1:01 pm

Cash SPX Fib, Bulls will be very luck to make it back to 38.2%.
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Re: 10/02/2019 Live Update

Postby brokebybernacke2 » Wed Oct 02, 2019 1:14 pm

BullBear52x wrote:Cash SPX Fib, Bulls will be very luck to make it back to 38.2%.


Powell power!
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