10/28/2015 Live Update

[fehro]

also some fib Confluence (close approx) at these levels with possible ABC??
anyone thinking like this??

yup… look to Oct 2014 lows… for the "LS" of a 2yr H&S. .. nice ABC correction/ wave 2… "IF" that's the case a very nasty wave 3 down maybe close to follow.

[DellGriffith]

May 22nd 2013 was a FOMC day. Market spiked up and reversed to close lower and dropped for a month.

[fehro]

May 22nd 2013 was a FOMC day. Market spiked up and reversed to close lower and dropped for a month.

also FOMC on Sept 17th.. we spiked to a high… till 29th

[fehro]

TRANsport (DJ-20) still red.. pushing LOD, and yesterday's LOD… nearing 50d too.. USO pressing 50d

[josephli]

it is worth watching what IWM will be doing in the afternoon. So far the breakout is not convincing. Not sure whether the FED firework will break it considerably.

[BullBear52x]

Resistance that the whole world is looking at, captain obvious? lots of money to spend on gas to drive this far if you ask Aunt Jane

[MrMiyagi]

spy

[TraderGirl]

WTIC (oil) and SPX are out of sync. Most likely the Fed is to blame. Long term monthly chart shows that something is really wrong: low interest rates are pushing investments into equities and that's it. Economic data/predictions don't seem to matter.

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iuz.png

Uempel, I think you have to go back to 1980....oil topped in 1980 along with Gold as the market was bottoming...they both traded sideways to down until 1997-2000 when they both began to rise as the market began to top in 2000...

Then in 2009 Oil topped, and gold topped in 2011 when oil got a secondary high, they both began to fall as the market took off....

There has been a price correlation with long term turns in the market...approximately 20 or so year cycles...so perhaps oil and gold begin to rise substantially again in 15-20 years...

That doesn't mean oil can't trade sideways until then...it did between 1988-1999...but it wouldn't be too far fetched to see oil trading at $200-300 a barrel or more at some point....

[DellGriffith]

Interesting that theres no dark pool phantom bars huge either way.

[MrMiyagi]

spyV

[josephli]

interesting to see TLT and USD are both weak

[MrMiyagi]

qqqV

[Denali92]

May 22nd 2013 was a FOMC day. Market spiked up and reversed to close lower and dropped for a month.

Afraid it was not a meeting - it was a Bernanke testimony to Congress.... Fed meeting was on May 1st - we were down all day - gapped up the following day and went ballistic on the upside till the 22nd.

-D

[josephli]

Damn interesting, 15 mins to FED, market start to move.

[MrMiyagi]

Damn interesting, 15 mins to FED, market start to move.

SPY intraday 1 & 5 minute MACD turned up together.

[josephli]

Damn interesting, 15 mins to FED, market start to move.

SPY intraday 1 & 5 minute MACD turned up together.

I see the technical here. but the timing is too interesting for a FED day.

[TraderGirl]

Here is a very crude chart of the correlation between oil and the market.....

From a very long term perspective...oil has traded higher during uncertain negative trends in the market....and lower while during bullish periods in the market...

So from that long term perspective, you can see that oil could trade in a range (look at 1988-1999) for many years until the bull party in the markets comes to an end in the next cycle...

That could perhaps be 15-20 years from now??

[BullBear52x]

Bears start to challenge papa bull now no new HOD

[josephli]

Here is a very crude chart of the correlation between oil and the market.....

From a very long term perspective...oil has traded higher during uncertain negative trends in the market....and lower while during bullish periods in the market...

So from that long term perspective, you can see that oil could trade in a range (look at 1988-1999) for many years until the bull party in the markets comes to an end in the next cycle...

That could perhaps be 15-20 years from now??

Well, from fundamental perspective, U.S. was net crude importer in the past so low price benefit economy. but with shale boom then that correlation might not be there any more.

[josephli]

Bears start to challenge papa bull now no new HOD

Guess just some bots having with themselves.