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05/06/2021 Live Update

05/06/2021 Live Update

Postby Cobra » Thu May 06, 2021 8:36 am

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Not sure whether it's a lower high therefore the rebound was over or not.

Flat open, likely just a range day.

ES60min.png

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Re: 05/06/2021 Live Update

Postby BullBear52x » Thu May 06, 2021 9:26 am

last two days, trading range was lower but it was nothingness. flat sideways overall. leaning bearish but price doesn't say much. let see if bulls can retake the upper trading range or continue. be nimble note to self.
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Re: 05/06/2021 Live Update

Postby BullBear52x » Thu May 06, 2021 9:30 am

ES, range bound 4142-4190 selling for now.
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Re: 05/06/2021 Live Update

Postby BullBear52x » Thu May 06, 2021 9:34 am

right off the gate. if sell off is not strong I would expect a late day rally. lets go bears!
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Re: 05/06/2021 Live Update

Postby Cobra » Thu May 06, 2021 10:10 am


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Re: 05/06/2021 Live Update

Postby BullBear52x » Thu May 06, 2021 10:21 am

ding ding 41.42 sitting out with 1/2 lot left. coffee time.
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Re: 05/06/2021 Live Update

Postby BullBear52x » Thu May 06, 2021 10:24 am

MA resistance will determine if there will be a storm or not.
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Re: 05/06/2021 Live Update

Postby Cobra » Thu May 06, 2021 10:39 am

It's the bear's last chance here to make a downtrend day. My guess is it's just a range day.
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Re: 05/06/2021 Live Update

Postby BullBear52x » Thu May 06, 2021 10:45 am

Last sell, same playbook.
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Re: 05/06/2021 Live Update

Postby BullBear52x » Thu May 06, 2021 10:49 am

Fearful market.
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Re: 05/06/2021 Live Update

Postby BullBear52x » Thu May 06, 2021 11:14 am

bears got an easy day today Haha

who could have thought it will be this easy for them?
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Re: 05/06/2021 Live Update

Postby Cobra » Thu May 06, 2021 11:25 am

Higher low, the low might be in for today.
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Re: 05/06/2021 Live Update

Postby BullBear52x » Thu May 06, 2021 11:28 am

Yep, Range day, take a break here will be a buy at MA support, but me no buy today.
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Re: 05/06/2021 Live Update

Postby BullBear52x » Thu May 06, 2021 11:44 am

must be news, haha....selling 2x top setup, do or die for bears.
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Re: 05/06/2021 Live Update

Postby BullBear52x » Thu May 06, 2021 11:47 am

This dip will be bought, I don't expect much for bears, just play by the book that's all, no buy today, maybe tomorrow but not today for me.
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Re: 05/06/2021 Live Update

Postby Al_Dente » Thu May 06, 2021 12:09 pm

Options traders are buying JUST A FEW calls
AD is still 1-to-1 (50/50) and could go either way
56int.png.jpg
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Re: 05/06/2021 Live Update

Postby Cobra » Thu May 06, 2021 12:09 pm


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Re: 05/06/2021 Live Update

Postby Cobra » Thu May 06, 2021 12:11 pm

The pullback probably will be bought. 10% chances it was a vacuum up therefore the pullback now will go all the way back to the day low.
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Re: 05/06/2021 Live Update

Postby Al_Dente » Thu May 06, 2021 12:49 pm

zh headline: "Here Comes The Squeeze: Goldman Prime Says Hedge Funds Shorted Tech For 9 Of The Past 10 Days”
GS: the bulk of this selling was short selling, i.e., the flows were "driven by short sales outpacing long buys 2 to 1.
GS: Goldman notes that managers are the most U/W [underweight] Tech Hardware (-5.6%) followed by Semis & Semi Equip (-2.4%) while still O/W [overweight] Software & Services (+4.8%).
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Re: 05/06/2021 Live Update

Postby Al_Dente » Thu May 06, 2021 1:03 pm

If TECH indeed squeezes (in the next day/few days) I’m wondering where the shorts will be stopped out [where they will start buying to cover]
and I’m guessing at 102 on the TQQQ’s
[All the pros that are short tech have just read that zh headline and text, and are preparing to cover if they need to]
[Anyone with better analysis, please post]

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