04/15/2016 Live Update

[Al_Dente]

AD roughly 1 to 1, chop, no bias

415ad chop.png (21.19 KiB) Viewed 4008 times

[fehro]

buckle up.

[MrMiyagi]

AAPL kicked in the fruits as news out that they will extend production cut for another quarter.

[Trades with cats]

Doya or Don't Ya

Rig count just dropped three so that should be good for a little algo bounce. Goldman says US shale oil will resume drilling at $55 so if correct that is the probable top in oil for the future. Big banks saying the Doha summit on Sunday is either a large or a medium selloff as the worlds largest producer will not attend and has no method of enforcing limits (other than Dallas Fed sponsored meetings in a Wells Fargo conference room). Bottom line Iran's planned 12 month increase in production matches the IEA estimate of US decline.

It appears Chinese oil demand is down 2% year over year while exports are up 33%. I don't know what that export base is but it makes sense as we have been reading that the "tea pot" refineries have been greenlighted to go flat out and export product.

Clearly someone wants a top in oil because the news agencies have been flooding the airwaves with pictures of tanker fleets at anchor and of course the new digital maps showing where they all are. Could be a volatile market over the next several weeks as US refineries go from 89% capacity to flat out at 96% or so while the traffic in the Huston ship canal tries to unload more cargo.

Maybe the "expert" reviews of the COT report this weekend will bring some clarity.

[superxy]

Hi Cobra,

Does IWM has 1st hr red hollow bar theory?

[fehro]

buckle up.

still just going 15mph NDX new LOD.. need VXX/VIX to take out yesterday's HOD

[fehro]

2074.. last weeks highs next support.. crack that.. then 2065 -gap fill if you want to get crazy.. and really crazy 20d 2056

[Cobra]

I have a dream.

[Cobra]

by the way it's 60 min EMA20, so a rebound here is normal. Let's see how aggressive those buyers are.

[Cobra]

possible double bottom, bears be careful.

[Al_Dente]

AAPL is:
3.35% of SPY
11.69% of QQQ
4.2% of DIA

[superxy]

I have a dream.

bears have no dream at all

[Cobra]

rebound may have small legs, guess we close doji today.

[MrMiyagi]

!!! POWER HOUR !!!

[fehro]

bulls trying to keep the weekly candle pretty.. neckline retest.. 5m channel resistance.

[ALdaytrade]

I have a dream.

bears have no dream at all

What happened to that H & S? The patterns in the market do not work anymore.

I have an idea that we might reach 2100 next week or higher.

[Al_Dente]

!!! POWER HOUR !!!

[josephli]

I have a dream.

bears have no dream at all

What happened to that H & S? The patterns in the market do not work anymore.

I have an idea that we might reach 2100 next week or higher.

As I reviewed some of the stats on the indicators I followed, it seems non-pattern becomes more and more common, i.e. there is no edge at all at certain phase while "surprise" move becomes more common.

[MrMiyagi]

Intraday NYMO at +18, down just 2 points on the day. NYADV at day high 1676.

[Al_Dente]

IWM HOD
SPY not
QQQ not