03/02/2020 Live Update

[Daniel]

We should test overnight high at the minimum today, I know it's Monday.

Schwab has TRIN hanging above 1.5; don't you prefer to see that under 1?

[Daniel]

Long ES @2958

S/L 20 handles...hit...ouch...

Condolences. Part of the process.
This is a very herky jerky market right now. Snap crackle pop!

[Heck]

Factory activity weakest reading on record...

Wall St preps for possible shutdown of trading floor...

Buying bad news can profit

[te_fern]

could it be a bull flag?? Hoping....

[Al_Dente]

......Wall St preps for possible shutdown of trading floor.......

Boss: can you give us a source on that, thanks

[BullTart]

big move coming up.. given the hammer on the daily yesterday, it may be to the upside

[Daniel]

Prices of the 3 majors are holding within their OR-60 (60min opening range).
That range is itself relatively narrow today. Is price beginning to consolidate? Perhaps the market is gaining confidence that economic dislocations are being "priced in"?

[BullBear52x]

We should test overnight high at the minimum today, I know it's Monday.

Schwab has TRIN hanging above 1.5; don't you prefer to see that under 1?

I did look at it closely, today is my buy day, would like to see TRIN lower, the day still young.

[Daniel]

....today is my buy day, would like to see TRIN lower, the day still young.

Cobra isn't currently putting much weight on TRIN readings, as he indicated the other day.

[BullTart]

let's see if this breakout to the upside is legit

[Daniel]

SPY hod, QQQ & IWM not yet.
QQQ and SPY had their pullbacks neatly contained by the (upslope) 5min 20ema.

[BullBear52x]

We should test overnight high at the minimum today, I know it's Monday.

Schwab has TRIN hanging above 1.5; don't you prefer to see that under 1?

I did look at it closely, today is my buy day, would like to see TRIN lower, the day still young.

Cobra isn't currently putting much weight on TRIN readings, as he indicated the other day.

when finding the end of the run/ end of the trend up/down, having TRIN in agreement is a must for me. days after that it doesn't weight as much but nice to have it on your side of a trade. like today if by the closed the TRIN is still up high it will tell me that the buying is questionable, if TRIN were to be lower it will suggest the higher price should be expected. not guaranteed (nothing is) but I would feel much better for over night holding. (swing position) for day trade I would come back the next day with continue buying in my trading plan.

[te_fern]

Need to break and hold above 3000...

[Daniel]

.....having TRIN in agreement....TRIN....TRIN....TRIN....in my trading plan.

-Thx BB52! That is indeed a reasoned and seasoned approach. Richard Arms himself wrote much about the nuances of how to use his indicator. It isn't a black and white signal generator.

You are always generous in your explanations.

[Heck]

1.03 % $TNX
= 97 PE
= UP

1.9 % SPY Dividend Yield

Favours Equity = UP

[Al_Dente]

free Egg McMuffins today
seriously
https://edition.cnn.com/2020/03/01/busi ... index.html

[Heck]

$NYMO = UP
https://stockcharts.com/public/1684859/ ... /585389789

[BullBear52x]

This must be a bear market, kind of liking it even on the buy is getting pay.

[BullBear52x]

Stops are in......Emotions are out!

[Cobra]

Maybe it's an uptrend day, maybe. At least this bull shall have legs.