03/29/2016 Live Update

[Daniel]

IWM just blew through double-top resistance!

And then some! Yikes. Ka-boom.

Back to 110 level, VERY extended from the 15min 20ema

[josephli]

back from lunch. looks like fed starts another QE without doing anything.

[Daniel]

JNK, HYG testing their (upsloping) 20day sma right now, from below--JNK there, HYG just below. These are good litmus test securities for "econo-risk sensitivity".

It will be instructive if they bust thru.

[josephli]

USD big down, TLT big up, USDJPY big down. equities up. pattern typical during QE period.

[Al_Dente]

IWM just blew through double-top resistance!

And then some! Yikes. Ka-boom.

Back to 110 level, VERY extended from the 15min 20ema

Now have to use the 15min 10ma as stop
Even that’s too far away
Which means that traders may reduce their holdings [or raise their stop], as the stop is 1-2 points away already oy

[Al_Dente]

Where is Mr.Miyagi?
https://www.youtube.com/watch?v=zSAJ0l4OBHM

[Cobra]

Where is Mr.Miyagi?
https://www.youtube.com/watch?v=zSAJ0l4OBHM

He's here!

[Al_Dente]

[DellGriffith]

Daily SPY:

This rally to the end is strong enough to erase the bearish MACD cross. That signal is only good for EOD.

[Cobra]

members only update at 3:30 pm
http://www.cobrasmarketview.com/2016/03 ... ay-update/

[Trades with cats]

Got to ask yourself is this going to stick (I mean we all knew the next increase was uncertain) or will this turn into one of those 24 hour Super Mario reactions. Because the message right now is bad is good but it doesn't mean new printing.

[Al_Dente]

BofAML reports that insider selling continues:
“Last week, during which the S&P 500 fell 0.7%, BofAML clients were net sellers of US stocks for the ninth consecutive week, in the amount of $1.2bn. As we noted last week, this is the longest selling streak in five years, with cumulative net sales of $11bn over the last nine weeks. Clients may doubt the sustainability of this rally, given the lack of fundamental support (S&P 500 profits remain in a recession and revision trends remain negative). For the fifth week in a row, all three client groups (institutional clients, hedge funds and private clients) were net sellers, led by institutional clients. Institutional clients have also been the biggest net sellers of US stocks in 1Q16 (year-to-date). Large, mid and small caps all saw net sales last week; but year-to-date cumulative flows into small and mid caps are still in the black. Buybacks by our corporate clients slowed last week to a five-week low, but the multi-week average remains healthy. Year-to-date, cumulative buybacks of $12bn are tracking 40% above the $9bn we saw in 1Q of last year, though below the record $18bn we saw in 1Q of 2014.”
“Investors are positioning for a market reversal based on leveraged positions in volatility funds. As the WSJ noted yesterday citing Morningstar data, assets in the ProShares Trust Ultra VIX Short-Term Futures ETF, and the VelocityShares Daily 2x VIX Short-Term ETN, have both more than doubled to almost $1.5B from the beginning of March through Thursday, something we highlighted as well.”

[fehro]

SPX 2056.60.. HOY (2016) just 0.69 short of HOD. VIX on support of sorts

[josephli]

Got to ask yourself is this going to stick (I mean we all knew the next increase was uncertain) or will this turn into one of those 24 hour Super Mario reactions. Because the message right now is bad is good but it doesn't mean new printing.

will need to watch. both short term and intermediate term the market become extreme OB again. would need to check EOD to see whether today's rally indicate a long term change of trend. meanwhile, during 2011 and 94-95 episode, a major higher low is printed before going higher.

[Tutti]

Got to ask yourself is this going to stick (I mean we all knew the next increase was uncertain) or will this turn into one of those 24 hour Super Mario reactions. Because the message right now is bad is good but it doesn't mean new printing.

Buddy on a trading desk at a bigger broker dealer is saying that their institutional desk and others are dead not only today but this entire month. So to your point, Im calling Bravo Sierra on this entire move.

Also as to AD - redemptions are a major problem now for Hedgies and that most of the trading they are seeing is for redemption requests.

To me this feels likes algos, ETF's & retail. File that under my worthless opinion...

[josephli]

SPX 2056.60.. HOY (2016) just 0.69 short of HOD. VIX on support of sorts

beware the possibility of double top here. it is so close but not new high is printed.

[MrMiyagi]

I had to be somewhere, ninja stuff

spy

[fehro]

SPX 2056.60.. HOY (2016) just 0.69 short of HOD. VIX on support of sorts

beware the possibility of double top here. it is so close but not new high is printed.

yup and again major resistance we could gap it tomorrow..... next major 2074-2079 .. tiny gap there.. end of Dec. MacD not the happiest..

[Cobra]

members only update at 3:50 pm
http://www.cobrasmarketview.com/2016/03 ... ay-update/

[Al_Dente]

Got to ask yourself is this going to stick (I mean we all knew the next increase was uncertain) or will this turn into one of those 24 hour Super Mario reactions. Because the message right now is bad is good but it doesn't mean new printing.

Buddy on a trading desk at a bigger broker dealer is saying that their institutional desk and others are dead not only today but this entire month. So to your point, Im calling Bravo Sierra on this entire move.

Also as to AD - redemptions are a major problem now for Hedgies and that most of the trading they are seeing is for redemption requests.

To me this feels likes algos, ETF's & retail. File that under my worthless opinion...

Hi Toot:
What is “Bravo Sierra” are you putting the kibash on the market?
More on BofAML:
“Everyone” loves the BofAML reports, as they have a trillion+ dollars in their millions of accounts, and their flows and other data are seen as a microcosm of the overall markets, so their reports are "highly prized."
bye bye now