Good looking bull bar but I prefer to see 2 consecutive good looking bull bars to be sure that the low might be in. In a down day, rebound always appears very strong so very hard to tell which rebound is THE one.
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Trades w 2 Cats wrote:Everybody and their cousin is expecting a re=test of the FOMC range low. Wondering if the rule that if everybody expects it the market does something else may apply here.
I'm curious to your source of everybody? I haven't seen any mention on any boards. Might be possible though!
Trades w 2 Cats wrote:Everybody and their cousin is expecting a re=test of the FOMC range low. Wondering if the rule that if everybody expects it the market does something else may apply here.
I'm curious to your source of everybody? I haven't seen any mention on any boards. Might be possible though!
Futures Trader 71 in his morning show went in depth with volume profile . Master Wu on Twitter looking at the same levels, Coolbizone's premium Elliot Wave Twitter channel. It is a significant marker for most any type of technical analysis. Thus my thinking that if a re-test of that level is so obvious then maybe it won't happen.
Trades w 2 Cats wrote:Everybody and their cousin is expecting a re=test of the FOMC range low. Wondering if the rule that if everybody expects it the market does something else may apply here.
I'm curious to your source of everybody? I haven't seen any mention on any boards. Might be possible though!
Futures Trader 71 in his morning show went in depth with volume profile . Master Wu on Twitter looking at the same levels, Coolbizone's premium Elliot Wave Twitter channel. It is a significant marker for most any type of technical analysis. Thus my thinking that if a re-test of that level is so obvious then maybe it won't happen.
Seems like it is heading there, just how we get there is some debate and probably will not be straight down from here. Bounce then fade, so far no VIX spike.
It is only 3.5%ish lower so not that far, some days have been that alone. That being said with all the positioning don't think market waterfalls there seems safer to short bounces than super press shorts right now.
McElligott warns that prices are now closing-in on next “-100% Short” triggers across Global Equities...
more selling under ~3758 ...max short under ~3757
flip to long over ~4125
more buying over ~4309
max long ~4418
We have had some nice attempts by sellers to take control but they haven't been able to yet! Looking forward to the close.
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Sharing research and ideas only, this is not trading advice.
“If people concentrated on the really important things in life, there’d be a shortage of fishing poles.” – Doug Larson
Sharing research and ideas only, this is not trading advice.
“If people concentrated on the really important things in life, there’d be a shortage of fishing poles.” – Doug Larson
Thanks Pasta Boss- U was staring at the charts watching price consolidate today wondering what would trigger the next leg down. CTA selling sounds like the plan for sure!
Very strong bull bar, maybe the low was in for today?
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All three forecasting models show the new storm heading for the refinery belt in the gulf. Summer drive season is over. Chinese refineries have new export licenses so a bug increase in US fracking oil going to the Chinese tea pot refineries. But total China export will stay 30% or so below last years total.White house talking about continuing to drain the SPR (that is 1 million a day added production all summer). Makes it difficult to be bullish oil.
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“If people concentrated on the really important things in life, there’d be a shortage of fishing poles.” – Doug Larson
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I use the fast charts to do volume analysis. This 60 min chart shows the precarious position that needs to change. I want to see the market make a push into that red triangle and hit the other side of the rectangle.
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“If people concentrated on the really important things in life, there’d be a shortage of fishing poles.” – Doug Larson
FOMC day did not move the needle that much. The trend was set by the ugly CPI release. The pavlov conditioned buy the dip traders are starting to figure out that this is no longer a print like there is no tomorrow Fed. In my opinion.
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