03/07/2016 Live Update

[fehro]

crazy IWM/RUT takes out Fri's HOD!! IWM green and strong, NDX very weak takes out Thurs/Fri LOD and still there.. SPX takes out 1985 (wedge uptrend).. .look for a sharp drop.

[uempel]

Bullish Percentages have improved in the last 30 minutes, BPNYA now up 1.1 percent.

http://stockcharts.com/freecharts/candl ... BPFINA|B|0

The system shown here with Bollinger Bands (BB 20/2 and 13/1) is bullish: SPX in the light blue area. Only a close in the green area would signal a change/reversal).

[fehro]

INDEX days

[fehro]

SPX gap fill.. dabble short 1985 goes.. looking for 1970

[nikman]

Thanks Uempel. If I read this (with my biased mind), seems like the ellipses are intersecting around 1955-1957 on this Wednesday. You are an expert on these ellipses, so I would like your experienced view on whether this intersection means anything or not. Thank you.

Looks as though the next move starts tomorrow or Wednesday, not today

oiu.png

[Trades with cats]

Decision time for small caps.

[uempel]

Is anybody bullish in this forum? Consensus seems to be that the A) market will tank soon and B) that it will tank long term.

I don't want to sound like Cletus but commodities are up, oil is up, momentum is up, the thrust and angle of the February rally is impressive Does playing the short side still make sense? As long as everybody here doubts this rally won't it continue to zoom up?

I'm looking for more bullishness here in the forum before I feel comfortable with shorts

[fehro]

Is anybody bullish in this forum? Consensus seems to be that the A) market will tank soon and B) that it will tank long term.

I don't want to sound like Cletus but commodities are up, oil is up, momentum is up, the thrust and angle of the February rally is impressive Does playing the short side still make sense? As long as everybody here doubts this rally won't it continue to zoom up?

I'm looking for more bullishness here in the forum before I feel comfortable with shorts

….."S&P 500 calls are more attractive now than at any time on record."
….With JPMorgan "going underweight US equities for the first time in this cycle," Goldman Sachs would like to sell S&P 500 Calls to its portfolio manager clients... http://www.zerohedge.com/news/2016-03-0 ... y-sp-calls

[Al_Dente]

Percent change off the Feb 11 lows
top panel: smalls IWM = cyan
bottom panel: oil = green still up

[Trades with cats]

Goldman is like what 0 for 6 so far this year.

[stingrey]

Is anybody bullish in this forum? Consensus seems to be that the A) market will tank soon and B) that it will tank long term.

I don't want to sound like Cletus but commodities are up, oil is up, momentum is up, the thrust and angle of the February rally is impressive Does playing the short side still make sense? As long as everybody here doubts this rally won't it continue to zoom up?

I'm looking for more bullishness here in the forum before I feel comfortable with shorts

This is a cause for pause...NYMO is very high:

http://stockcharts.com/h-sc/ui?s=$RHNYA ... =228617586

[Trades with cats]

Oil- first Iranian cargo arrives in Europe. Oil looks like it can't go a lot further as they are running out of shorts. With no shorts the 2 million barrel a day surplus catches up to price. It was reported this morning that Genscape expects a smaller build in Cushing this week. Well they keep saying that Cushing is above operating capacity and moving in on an all time record so I think watching the size of the build there is kind of like the drill rig number, fascinating but really nothing more than algo bait as a short term indicator.

[JFR]

Overnight gap down. Filled. Behaving like a range.

[JFR]

DOW 30. CAT a leader once again. NKE at the bottom.

[fehro]

Goldman is like what 0 for 6 so far this year.

"do as I say, not as I do".. selling calls but actually buying puts..

[brokebybernacke2]

Is anybody bullish in this forum? Consensus seems to be that the A) market will tank soon and B) that it will tank long term.

I don't want to sound like Cletus but commodities are up, oil is up, momentum is up, the thrust and angle of the February rally is impressive Does playing the short side still make sense? As long as everybody here doubts this rally won't it continue to zoom up?

I'm looking for more bullishness here in the forum before I feel comfortable with shorts

maybe not too bullish here, but elsewhere, quite! http://money.cnn.com/data/fear-and-greed/ -would like to see a tad more...

[JFR]

Caterpillar and Nike.

[uempel]

brokebybernacke2 - thanks!

[uempel]

Goldman is like what 0 for 6 so far this year.

Don't understand

[JFR]

Strong move out of a base.