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05/16/2020 Weekend Update

05/16/2020 Weekend Update

Postby Cobra » Fri May 15, 2020 5:07 pm

Down 1 week, the next week has 61% chances to close up.

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Re: 05/16/2020 Weekend Update

Postby merryme » Sat May 16, 2020 8:04 am

“Asset prices remain vulnerable to significant price declines should the pandemic take an unexpected course, the economic fallout prove more adverse, or financial system strains reemerge,” the Fed said in the report."

https://news.bloomberglaw.com/banking-l ... emic-grows
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Re: 05/16/2020 Weekend Update

Postby merryme » Sat May 16, 2020 8:06 am

Financial Stability Report from the Federal Reserve

https://www.federalreserve.gov/publicat ... 200515.pdf
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Re: 05/16/2020 Weekend Update

Postby QED » Sat May 16, 2020 12:53 pm

.
New York admits purposely undercounting nursing home deaths after changing reporting rules

The state of New York omitted coronavirus deaths from nursing homes and adult care facilities after it was revealed that a significant amount of individuals were dying from the virus in those types of residences.

New York Gov. Andrew Cuomo has come under fire for not protecting nursing home residents in his state and even going so far as to mandate that nursing homes accept coronavirus patients.

The vast majority of coronavirus deaths in New York City is made up of individuals 75 years of age and older.

https://www.washingtonexaminer.com/news ... ting-rules

.
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Re: 05/16/2020 Weekend Update

Postby JFR » Sat May 16, 2020 1:04 pm

From autochartist ...


Screenshot_20200516_100234.jpg
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Re: 05/16/2020 Weekend Update

Postby Al_Dente » Sat May 16, 2020 2:42 pm

FOUR HOUR CHART
SPX three push up.
Then double top, which was confirmed by the lower low (note that was the first lower low since the BIG low of 3/23).
According to TA, the next step should be lower.
The orange boxes on SPX which confirmed the double top and give the down target are Cobra’s (roughly).
The pink box is the bullish-island-gap from 1 April, which is the next magnet target down.

HERE’S THE RUB:
Everyone knows that QQQ and XLV have been leading since the BIG low of 3/23.
PLEASE NOTE: Neither QQQ nor XLV printed a lower low; they are both on higher lows…. and that is a bullish divergence…
If they keep pushing up, they will push SPX up too.
SPX can only move down if the QQQ and XLV push down too.

516four.png.png
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Re: 05/16/2020 Weekend Update

Postby Al_Dente » Sat May 16, 2020 3:00 pm

$NYFANG trivia:

The $NYFANG Index, launched in 2017, is an equal-dollar weighted index, and is rebalanced so that each component equals 10% quarterly
Components:
10% Apple
10% Google (Alphabet)
10% Amazon
10% Facebook
10% Netflix
10% Twitter
10% Tesla
10% Nvidia
10% Alibaba
10% Baidu

[The glaring omission is that there is NO MSFT, and that is the only problem with $NYFANG ... Hey, nothing is perfect... :mrgreen: ]
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Re: 05/16/2020 Weekend Update

Postby Al_Dente » Sat May 16, 2020 3:47 pm

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Re: 05/16/2020 Weekend Update

Postby BullBear52x » Sat May 16, 2020 7:17 pm

From "It is what it is department" The V-Shape recovery team versus TA team of a sideways to down market. key focus classy charts. On a classical charts we are similar to January before the February crash, under mid BB with indicators pointing south. That January market continued sideways to slightly up but crashing eventually. question now is are we going sideways further or pull back as soon as next week?
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My daily favorite quick glance also suggests sideways to down.
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Only 41% of SPX stocks trading above 20 DMA, not bullish as a whole.
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Short term trend is down, we got LL, trend following suggests this rip will be sold. market closed right at 5 DMA resistance on Friday, this is the very high resistance level, I am expecting down market as soon as Monday. $CPC is at complacent level of .8 (not shown here) it's good counter trend signal. Monday before market open will be a tell tale sign if market will head south starting Monday or the market wants to push for the February trick. I am bearish going into next week. for day trade it is random from day to day but bigger picture this market needs more time to correct first, I am not in the V-Shape camp but again market is always right. trade well, Peace!
4.PNG
My comments are for entertainment/educational purpose only. NOT a trade advice.
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Re: 05/16/2020 Weekend Update

Postby JFR » Sun May 17, 2020 10:21 am

Reading the tea leaves. The funds, et al, have money to invest. So do the rich. But companies face losses and bankruptcy in this pandemic economy. Values are at risk. Who wins the struggle? My hunch: book values and market values fall even more. Do the charts confirm this? IMO , No. The charts are neutral, choppy, chaotic and confused. Flat, but due for more dramatic moves both up and down. Just in my opinion.
Last edited by JFR on Mon May 18, 2020 9:47 am, edited 1 time in total.
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Re: 05/16/2020 Weekend Update

Postby jademann » Sun May 17, 2020 11:22 am

Two great charts from BB and JFR. http://schrts.co/bXqbccdi
My bet is currently on a retest of the upper BB before another down. I am not fighting the FED again :)
It is always amazing to me how it is possible to both see bullish and bearish off the same chart.
My comments were dictated to me by homie the clown
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Re: 05/16/2020 Weekend Update

Postby BullBear52x » Sun May 17, 2020 3:23 pm

For P&F fans, $BP index is your friend. bullish > 50. more list on link on other sectors. will Nasdaq save the day? $NAMO is in the RED right now. market data take it on its face value. Bullish Percentage is very pure signal base solely on P&F either buy or sell straight as it can get.
https://stockcharts.com/search/?section=symbol&q=$bp
1.PNG
weekly, RSI is helpful in buy or sell base on the this index.
2.PNG
My comments are for entertainment/educational purpose only. NOT a trade advice.
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Re: 05/16/2020 Weekend Update

Postby BullBear52x » Sun May 17, 2020 4:02 pm

Sell in May but can not go anywhere. This May is different :lol:
My comments are for entertainment/educational purpose only. NOT a trade advice.
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Re: 05/16/2020 Weekend Update

Postby JFR » Sun May 17, 2020 4:52 pm

BullBear52x wrote:For P&F fans, $BP index is your friend. bullish > 50. more list on link on other sectors. will Nasdaq save the day? $NAMO is in the RED right now. market data take it on its face value. Bullish Percentage is very pure signal base solely on P&F either buy or sell straight as it can get.


True that. I look at Renko and 3LineBreak along with PnF for price action. Bias for me is slightly bearish, but the bulls have deep pockets. Waiting for FX and futures to open.

Here are PnF daily charts for 4 stocks ETFs.


Screenshot_20200517_135754.jpg
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Re: 05/16/2020 Weekend Update

Postby Heck » Mon May 18, 2020 9:09 am

BullBear52x wrote:For P&F fans, $BP index is your friend. bullish > 50. more list on link on other sectors. will Nasdaq save the day? $NAMO is in the RED right now. market data take it on its face value. Bullish Percentage is very pure signal base solely on P&F either buy or sell straight as it can get.
https://stockcharts.com/search/?section=symbol&q=$bp
1.PNG
weekly, RSI is helpful in buy or sell base on the this index.
2.PNG


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Re: 05/16/2020 Weekend Update

Postby Heck » Mon May 18, 2020 9:19 am

Dark Market Phantom Bars at 6 AM EDT presaged 7:37 market jump with born again vaccine hope 'bull' news today
Prices still inside two weeks ago suggest false 'breakout'
We battened down hatches with Cash, Precious, Select winners and EDV, still not dead with beaucoups bond bears
As Uncle Warren pointed out at his four-plus hour virtual annual marathon meeting Saturday 16 days ago
So long as Fed can create digital money Treasury may not default
(Snake eating its tail)
Untrue for fifty states, some who cannot pay unemployment, so out of abundant caution we defer to da bear until further notice
Of course, Mr Market become billionaires' game
Classic blowoff top today ?

SP.1 Jun Fut SELLING < 2,933.75
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