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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.
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
I don't usually see a good looking megaphone like this. Looks like I got back from my 10 day break just in time
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
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
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.
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"
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.