09/28/2020 Live Update

[Al_Dente]

El Arian is always worth reading [later]:
“Not only are the liquidity injections proving less potent in reliably overcoming a weakening economic recovery and less responsive fiscal policy support, but there are no easy ways to protect portfolios against major sell-offs…. Investors also should not expect US lawmakers to come to the rescue. 
https://www.ft.com/content/8a563aa6-230 ... cdc4fb87c7

[BullBear52x]

sell any rips.

[BullBear52x]

squeeze of 10 handles is a big bulls, a 5 handles squeeze is young bulls.

[augrusot]

Al_dente,

I find the MA’s useful, so the 15’s are good.

[JFR]

SPY daily. Dipping my toes in the overnight market, swing trades.

Some of the stocks I just bought: BIG, BKE, CM, COOP, PG, POW

If the market turns down by Wednesday, or sooner, I will exit. The market is not to be trusted. Ready to jump at any time. Ha ha

Business almost as usual. Mostly day trades and scalps these days.

[Ratbastrd]

TRIN is abnormally high for such a bullish move, has been for two days now. Curious if anyone knows what is being sold so heavily under the covers?

[Al_Dente]

“There used to be three crappy apartments to choose from. Now there are ten.”
SAN FRANCISCO

[JFR]

Dow 30. Intraday reading. All green still. BA leading. WMT trailing.

Back later ...

[Al_Dente]

Thanks again augrusot

[Cobra]

Consolidation, bias is up.

[BullBear52x]

TRIN is abnormally high for such a bullish move, has been for two days now. Curious if anyone knows what is being sold so heavily under the covers?

Even a perma-bull were wonder the same. a meaningful bottom or top are hard to gauge. for now I am selling same play book on trend following. hourly is on the sell the rip zone. during trend reversal is not easy to trade. trend following sell, counter trend buy, by Friday we will know who the winner is.

[BullBear52x]

take half off, same playbook, now watch for MA support, if no support then bears may hit a home run.

[BullBear52x]

3 push up, look at 5 min. RSI, not even hitting 70 on a day like today. weak sauce!

[BullBear52x]

here is 5 min. RSI weak all day.

[Cobra]

The chart pattern still looks like a breakout is more likely but you should know it's been 10 hourly straight up now (if current hourly bar is up) which is extreme enough for a red hourly bar.

[Al_Dente]

Big fat bull day
So bull volume to bear volume ($NYUPV:$NYDNV) should be 9x right?
NOPE it is only 4.2x

[BullBear52x]

Look back since Feb sell off, 20 DMA resistance only hit once with NO lower lows to follow, this time we got one so far with LL, will today be the second or that's all she wrote. this week is the week to see it unfold.

[Al_Dente]

One of Cobra’s secret weapons, the Histo that he posts on the members page, is just now starting to turn.
He calls it “just for fun.”
After watching it for months, I take it very seriously.
Let’s see how it closes.
Can’t post chart because “members only”

[BullBear52x]

TREND following is pain when market goes sideways, but we are in a down trend now, keep it simple.

[Al_Dente]

I was forced to revise the measured move (sloppy) to the upside, after spy and qqq broke above their wedges.
Now it looks like we may get a GREEN ELDER which we haven’t seen in the spy and the qqq since 2 Sept.
Depends on the close.
DAILY