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10/30/2019 Live Update

Re: 10/30/2019 Live Update

Postby Al_Dente » Wed Oct 30, 2019 12:41 pm

FOMC:
Taken from the Northman chart I posted late yesterday, except SPX is Heikin and VIX is inverted.

1030fomc.png.png
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Re: 10/30/2019 Live Update

Postby BullBear52x » Wed Oct 30, 2019 1:26 pm

3990-3005 /ES a magnet for bears if we have a relief rally coming or never.

2990-3005correction.
Last edited by BullBear52x on Wed Oct 30, 2019 1:34 pm, edited 1 time in total.
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Re: 10/30/2019 Live Update

Postby BullBear52x » Wed Oct 30, 2019 1:29 pm

this market is ready for a pull back, will see if the power that be allows it.
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Re: 10/30/2019 Live Update

Postby BullBear52x » Wed Oct 30, 2019 1:52 pm

I traded last fed day, no fire power then, I don't expect any this time. selling still.
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Re: 10/30/2019 Live Update

Postby BullBear52x » Wed Oct 30, 2019 1:56 pm

Pick your poison. I didn't pick any but I just happened to be on the RED pill atm.
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Re: 10/30/2019 Live Update

Postby Trades with cats » Wed Oct 30, 2019 2:00 pm

ES 12-19 (2000 Tick) _ ES 12-19 (2000 Tick) 2019_10_30 (11_56_05 AM).png

I don't usually see a good looking megaphone like this. Looks like I got back from my 10 day break just in time :D
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Re: 10/30/2019 Live Update

Postby Al_Dente » Wed Oct 30, 2019 2:02 pm

QUARTER POINT CUT
third cut this year
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Re: 10/30/2019 Live Update

Postby Trades with cats » Wed Oct 30, 2019 2:06 pm

from twitter. 84 meetings since the expansion began. Not one surprise rate change.
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Re: 10/30/2019 Live Update

Postby Trades with cats » Wed Oct 30, 2019 2:07 pm

I guess we will see tomorrow if Northy and his chart of Fed meetings is a good forecast (i.e. major sell-off).
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Re: 10/30/2019 Live Update

Postby Al_Dente » Wed Oct 30, 2019 2:11 pm

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Re: 10/30/2019 Live Update

Postby te_fern » Wed Oct 30, 2019 2:14 pm

Back testing the upper line. Will it prove to be resistance???
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Re: 10/30/2019 Live Update

Postby te_fern » Wed Oct 30, 2019 2:18 pm

Nope, won't hold it, S&P went positive for the day. We'll see what the presser does to it??
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Re: 10/30/2019 Live Update

Postby Trades with cats » Wed Oct 30, 2019 2:19 pm

ES 12-19 (2000 Tick) _ ES 12-19 (2000 Tick) 2019_10_30 (12_14_38 PM).png

I drew that megaphone three hours ago. Top line seems to intersect with t_fern's larger time frame AND order book (right side of chart) shows sellers gathering at that level. Maybe some pre-presser action?
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Re: 10/30/2019 Live Update

Postby Trades with cats » Wed Oct 30, 2019 2:24 pm

te_fern wrote:Nope, won't hold it, S&P went positive for the day. We'll see what the presser does to it??

Spent my sort of vacation reading the Elliot Wave book. They use the term overthrow a lot when the market goes over a trend line and then quickly pulls back. As in your trend line can be correct but the market needs to remind you who is the boss :lol:

Also in their world that would add to the odds that we just saw the high for this move.
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Re: 10/30/2019 Live Update

Postby BullBear52x » Wed Oct 30, 2019 2:26 pm

TRIN > 1 for the 3rd day, well my simple translation is the sellers are not folding and still selling, will see how the closed.
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Re: 10/30/2019 Live Update

Postby Al_Dente » Wed Oct 30, 2019 2:33 pm

he's on prepared statement
Q&A soon
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Re: 10/30/2019 Live Update

Postby Trades with cats » Wed Oct 30, 2019 2:36 pm

Since ECB is proposing to use their resources to fight global warming you must take a drink every time an environmentalist question is asked. :lol:
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Re: 10/30/2019 Live Update

Postby Trades with cats » Wed Oct 30, 2019 2:40 pm

from twitter- I think it will be quote of the day-
"Fed’s Powell: Should Not Confuse T-Bill Purchases With QE"
:lol: :lol: :lol:
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Re: 10/30/2019 Live Update

Postby Cobra » Wed Oct 30, 2019 2:51 pm

maybe it's the higher low, the market finally decided to go up?
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Re: 10/30/2019 Live Update

Postby BullBear52x » Wed Oct 30, 2019 2:54 pm

same playbook, new sell.
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