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Alot of support in the 1360 area, but hopefully we can burn through. Does ES know about tomorrow's job report?TradingJackal wrote:ES diamond. Expecting more downside.
You arrrrrrre cooooooorrrrrrrect Sir. Hill Billies I think the actors come with the set, like In the days of the multi-year acting contracts.Al_Dente wrote:(A: “Beverly Hillbillies” babe?)xfradnex wrote:Paging Dr. Al. I provided a hint to the Perry Mason puzzle at the EOD Tues.
X: What is wrong with this picture of intraday money and credit?
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =270917865
Yea, if those were my elders, I’d put UNG right up there at top left, fur sure
Furthermore: http://screencast.com/t/weuUdvwVB
See Below.Al_Dente wrote:(A: “Beverly Hillbillies” babe?)xfradnex wrote:Paging Dr. Al. I provided a hint to the Perry Mason puzzle at the EOD Tues.
X: What is wrong with this picture of intraday money and credit?
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =270917865
Yea, if those were my elders, I’d put UNG right up there at top left, fur sure
Furthermore: http://screencast.com/t/weuUdvwVB
Dr. Al ,here is the chart that you made that looks like it has your answer. Has anything changed?Al_Dente wrote:Here’s how “Follow the dollar” worked since the 4 June bottom
Equal weight QQQ (QQEW) contains equal amounts of stocks in QQQ; most are weeker than the average stocks in QQQ which are weighted strongly with stocks like Apple, which you have pointed out today (19% of QQQ)is strong and makes up a large part of QQQ. CU is next to gold and silver. Not trading CU, just Dr. Copper. SOXL could be moved. I added RSP/SPY today. like QQEW/QQQ.Al_Dente wrote:XFRADNEX
Elder things to ponder:
I don’t understand how the QQEW ratio shows weakness but all three individual elders QQQ/QQEW/AAPL are strong green.
Is there a method to yr madness? Why not put SOXL (SMH) closer to QQQ, and delete the duplicate AAPL?
And CU next to FCX (CU = no volume, can u trade that thing?)
“””Has anything changed””” You mean with dollar? Yes, if the dollar doesn’t reverse, and soon, bye bye spy
All depends on jobs 8:30 am ET tomorrow
NFP consensus 90k (GS raised their forecast to 125k)
Unemployment consensus flat at 8.2%
Agreed about the support. Just that a few things were lining up pointing to downside. It's interesting how both ES and SPY work with each other. Their patterns are independent of each other but in a way work with each other too. Especially, the turns on common fibs. As for tomorrow, if we do go down, I am not expecting a big bearish move. Bearish news is being treated as - whatever! The surprise is to the upside.xfradnex wrote:Alot of support in the 1360 area, but hopefully we can burn through. Does ES know about tomorrow's job report?TradingJackal wrote:ES diamond. Expecting more downside.
Thanks. But as you might remember last week, I made a call on Apple going up. It did not go up right away. It turned out that Apple stayed ahead of QQQ on the slimest of margins, creating multiple greens day in a row on the AAPL/QQQ chart. My charts are a good quick check on direction, but you really need to check the actual charts to know for sure.Al_Dente wrote:XFRANDEX
Okay
Another blatant ratio is your xly/xlp which JUMPS off your elder charts, contrasted next to xly solo green, and xlp solo green.
Then I go to my ratio chart WHICH BROKE DOWN
Then I go to separate elder charts for xly and xlp and I see it’s because xlp (defensives) are so much stronger (should be obvious).
Then blablabla… point is it takes me a long time to get WHAT U CAN SEE IN ONE SECOND FLAT with yr elders ……………….cool, right?
Agree. Expectations are to the upside. Need to have enough evidence pile up for down side and the HFT bastards to decide that there is more money on the down side.TradingJackal wrote:Agreed about the support. Just that a few things were lining up pointing to downside. It's interesting how both ES and SPY work with each other. Their patterns are independent of each other but in a way work with each other too. Especially, the turns on common fibs. As for tomorrow, if we do go down, I am not expecting a big bearish move. Bearish news is being treated as - whatever! The surprise is to the upside.xfradnex wrote:Alot of support in the 1360 area, but hopefully we can burn through. Does ES know about tomorrow's job report?TradingJackal wrote:ES diamond. Expecting more downside.
My understanding is that Europe got wise that the London and US firms were only ripping the public off and have restraints on HFTs/Algos.KeiZai wrote:Haha what a classic movie...I don´t trade these ABCs because they like to screw you, in NY I try to catch only big waves...ABCs works nicely in europe markets - europe is still nice place for EW Traders but don´t know how longSWalsh wrote:It "looks" like a 5 wave move down and an a-b-c up. But that was then and this is now.KeiZai wrote:Dow could be forming small H&S
Now THIS explains this market:
http://www.youtube.com/watch?v=VeZ9HhHU86o
ADPxfradnex wrote:Paging Dr. Al. See http://finance.yahoo.com/news/u-private ... 00453.html. stating that 176k jobs made from ADP. Why is Friday's Job report more important than ADP ?. Why no pop of market thurs?