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Re: 10/30/2019 Live Update

Posted: Wed Oct 30, 2019 12:41 pm
by Al_Dente
FOMC:
Taken from the Northman chart I posted late yesterday, except SPX is Heikin and VIX is inverted.
1030fomc.png.png

Re: 10/30/2019 Live Update

Posted: Wed Oct 30, 2019 1:26 pm
by BullBear52x
3990-3005 /ES a magnet for bears if we have a relief rally coming or never.

2990-3005correction.

Re: 10/30/2019 Live Update

Posted: Wed Oct 30, 2019 1:29 pm
by BullBear52x
this market is ready for a pull back, will see if the power that be allows it.

Re: 10/30/2019 Live Update

Posted: Wed Oct 30, 2019 1:52 pm
by BullBear52x
I traded last fed day, no fire power then, I don't expect any this time. selling still.

Re: 10/30/2019 Live Update

Posted: Wed Oct 30, 2019 1:56 pm
by BullBear52x
Pick your poison. I didn't pick any but I just happened to be on the RED pill atm.

Re: 10/30/2019 Live Update

Posted: Wed Oct 30, 2019 2:00 pm
by Trades with cats
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

Re: 10/30/2019 Live Update

Posted: Wed Oct 30, 2019 2:02 pm
by Al_Dente
QUARTER POINT CUT
third cut this year

Re: 10/30/2019 Live Update

Posted: Wed Oct 30, 2019 2:06 pm
by Trades with cats
from twitter. 84 meetings since the expansion began. Not one surprise rate change.

Re: 10/30/2019 Live Update

Posted: Wed Oct 30, 2019 2:07 pm
by Trades with cats
I guess we will see tomorrow if Northy and his chart of Fed meetings is a good forecast (i.e. major sell-off).

Re: 10/30/2019 Live Update

Posted: Wed Oct 30, 2019 2:11 pm
by Al_Dente

Re: 10/30/2019 Live Update

Posted: Wed Oct 30, 2019 2:14 pm
by te_fern
Back testing the upper line. Will it prove to be resistance???

Re: 10/30/2019 Live Update

Posted: Wed Oct 30, 2019 2:18 pm
by te_fern
Nope, won't hold it, S&P went positive for the day. We'll see what the presser does to it??

Re: 10/30/2019 Live Update

Posted: Wed Oct 30, 2019 2:19 pm
by Trades with cats
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?

Re: 10/30/2019 Live Update

Posted: Wed Oct 30, 2019 2:24 pm
by Trades with cats
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.

Re: 10/30/2019 Live Update

Posted: Wed Oct 30, 2019 2:26 pm
by BullBear52x
TRIN > 1 for the 3rd day, well my simple translation is the sellers are not folding and still selling, will see how the closed.

Re: 10/30/2019 Live Update

Posted: Wed Oct 30, 2019 2:33 pm
by Al_Dente
he's on prepared statement
Q&A soon

Re: 10/30/2019 Live Update

Posted: Wed Oct 30, 2019 2:36 pm
by Trades with cats
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:

Re: 10/30/2019 Live Update

Posted: Wed Oct 30, 2019 2:40 pm
by Trades with cats
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:

Re: 10/30/2019 Live Update

Posted: Wed Oct 30, 2019 2:51 pm
by Cobra
maybe it's the higher low, the market finally decided to go up?

Re: 10/30/2019 Live Update

Posted: Wed Oct 30, 2019 2:54 pm
by BullBear52x
same playbook, new sell.