12/07/2016 Live Update

[Shaishen]

Careful.. of a total reversal today.. on SPX .. for a capitulation day VIX green, and daily a hammer dabble short again

Total reversal that would be fun
For now spike literally off the charts, had one positive short for 2 ticks, don't feel confident right now to short this market.

Feels like the invisible hand is propping it up so the fall is not so drastically deep after Janet's rate hike announcement.

`

[Trades with cats]

From David Rosenberg- He says the rally has ben 100% financials and energy, the rest of the market is flat. Second point:

[fehro]

VIX slammed

[Shaishen]

`
BB52 TSI negative divergence on SPX for the last hour and 15 min - not helping today

-

[fehro]

Careful.. of a total reversal today.. on SPX .. for a capitulation day VIX green, and daily a hammer dabble short again

Total reversal that would be fun
For now spike literally off the charts, had one positive short for 2 ticks, don't feel confident right now to short this market.

Feels like the invisible hand is propping it up so the fall is not so drastically deep after Janet's rate hike announcement.

`

small OTM SPY p … low risk.. still holding up actually

[BullBear52x]

`
BB52 TSI negative divergence on SPX for the last hour and 15 min - not helping today

-

Counter trend setup is risky, when the major and minor trend all up, the counter trend risk is double. the day like today use the divergence for profit taking only.

[BullBear52x]

3 push up, but the next buy should fall on the first push area. until that fail will bear got a say.

[fehro]

/CL weak.. nLOD .. mind the indexes.. if it matters

[Shaishen]

`
BB52 TSI negative divergence on SPX for the last hour and 15 min - not helping today

-

Counter trend setup is risky, when the major and minor trend all up, the counter trend risk is double. the day like today use the divergence for profit taking only.

Thanks Boss, appreciate. Unfortunately I noticed that risk is double I didn't play very smart today. Occasionally I have the revenge mind taking control, I am aware of it but I have a hard time walking away from the screen.

`

[BullBear52x]

`
BB52 TSI negative divergence on SPX for the last hour and 15 min - not helping today

-

Counter trend setup is risky, when the major and minor trend all up, the counter trend risk is double. the day like today use the divergence for profit taking only.

Thanks Boss, appreciate. Unfortunately I noticed that risk is double I didn't play very smart today. Occasionally I have the revenge mind taking control, I am aware of it but I have a hard time walking away from the screen.

`

Are we all the same, I am still working on that part too.

[Eddie]

3 push up, but the next buy should fall on the first push area. until that fail will bear got a say.

I like your clockworks method. I've incorporated it into my system. Thank you! Right now, with the run ES has had, and the overbought level, I am nervous taking that clockworks setup because when this thing turns, it could rip through the low volume area below 32. Not sure it is worth chasing at this point, but curious if you took the setup.

[daytradingES]

Thanks Boss, appreciate. Unfortunately I noticed that risk is double I didn't play very smart today. Occasionally I have the revenge mind taking control, I am aware of it but I have a hard time walking away from the screen.

`

Earlier I posted the breakout level
2219.25
and that we were almost to it.
My rule is Never to short above the breakout level.
(or buy below the breakdown level)

Don't know if it helps but these relentless up days are no fun for me either.

[daytradingES]

what is the "reason" being given by MSM for the melt-up?

[BullBear52x]

3 push up, but the next buy should fall on the first push area. until that fail will bear got a say.

I like your clockworks method. I've incorporated it into my system. Thank you! Right now, with the run ES has had, and the overbought level, I am nervous taking that clockworks setup because when this thing turns, it could rip through the low volume area below 32. Not sure it is worth chasing at this point, but curious if you took the setup.

If less than 30min. left in the day I will not, but I always take the setup if time allowed. with stop in mind before entry there should be very minimum on risk. (Use the swing low water mark as stop for buy entry is my rule of thumb)

[Shaishen]

3 push up, but the next buy should fall on the first push area. until that fail will bear got a say.

I like your clockworks method. I've incorporated it into my system. Thank you! Right now, with the run ES has had, and the overbought level, I am nervous taking that clockworks setup because when this thing turns, it could rip through the low volume area below 32. Not sure it is worth chasing at this point, but curious if you took the setup.

Yeah you wonder who is buying here, forming a little dble top so now breakout higher or drop

`

[Eddie]

For a slightly bigger picture view beyond daytrading timeframes, I look at the ES 30 min chart with the 5DMA and RSI5. I find that RSI5 divergence will typically correct itself, and there is now a divergence. Plus, way too far above 5 DMA. Some sort of mean reversion is likely to happen, but this isn't a market I would short for any length of time.

[fehro]

http://money.cnn.com/data/fear-and-greed/

[Eddie]

And ES pushes higher - gotta love that clockworks

[fehro]

INDEXes

[Cobra]

dog and cat time!