02/09/2017 Live Update

[fehro]

Is it just me.. or is loading images.. still very sluggish.. not like it normal is?

[Al_Dente]

NY advancing stocks = 2.5 x declining stocks
NY advancing volume = 2.3 x declining volume
Bull trend day at the moment
The morning’s IWM advance is a bit steep, so a pullback is immanent, but let it be brief and shallow, and let the AD not drop below 1.6x

[Trades with cats]

ES needs to vilate lower fractal support line currently at 2295.

[BullBear52x]

Trend day today.

[Al_Dente]

fehro: loading image on my end is ok

[BullBear52x]

Is it just me.. or is loading images.. still very sluggish.. not like it normal is?

no problem here.

[Cobra]

this bull shall have legs.

[BullBear52x]

27k contacts buying at 96 /es. it will be a good support there on a pull back.

[BullBear52x]

what a mad buying.

[Trades with cats]

They ran ES up to BullBears 96 in London and then it retraced most into the US open. They have run the Small Caps up this morning and right now they are fluctuating. If new money doesn't come in soon this is move is going to live up to everyone's expectations and just drop back into the range.

I am confident we will read that the market is euphoric over tax reform. But I saw Speaker Ryan utter the words "revenue neutral" on TV last night. There is no such thing as a revenue neutral tax cut.

Typing too slow there goes the smalls into sell range.

[Al_Dente]

SAVE FOR LATER:
SMALL CAP TRIVIA:
$SML is the S&P 600 small cap index (capitalization-weighted index).
IJR is the ETF proxy for $SML.
IJR has a PE Ratio of 22.93, and a Price-to-Book Ratio of 2.23 (both as of Feb 7, 2017).
IJR is broad based; each holding comprises 0.65% or less of the index.
All together, the small-cap industrials, small-cap financials and small-cap techs comprise about 52% of the IJR.
[source: the issuer’s website, ishares.com]
[IJR is not a vehicle for trading, volume is too low. It is just cited here for comparison purposes].

Just for comparison, the S&P 500 large caps (capitalization-weighted index), SPY, has a PE Ratio of 17.79 (data varies depending on your source), and a Price-to-Book Ratio of 2.86 (as of Feb 7, 2017).
[source: the issuer’s website, spdrs.com]
SPY is AAPL and MSFT heavy, and the other weighting can be found here:
http://etfdb.com/etf/SPY/

Short interest ratio is 0.97 for IJR and is 2.78 for IWM, and 2.22 for SPY
[source for short interest = finviz. Note that all short interest data is always stale]

[Eddie]

I tried that short trade at 98.75, with a tight stop, which was run at 99.75.

[fehro]

SPX

[fehro]

SPX couple point gap up.. ATH at 2300.99 could see retest.. to 2306ish.. otherwise mind Mon am open gap under 2285 to 2280 and 20d 2281.41

ding ding 2306 .. possible resistance..

[Trades with cats]

For me on a day like this I want to see the DI + part of the ADX get down below 20 fast and keep going down (under the DI-) to the 15 level or less before I want to short. Works for me but your milage may differ.

[BullBear52x]

Second Neg D. coming up, this is the thing about trend day once the divergence failed you will have to be fast(super fast ) to tag along the first key counter trend failed. now you will have to decide the same move or wait for the buy failed. I think most of us see all this just when to make move and recognize the failed move and to take that instant quick decision to follow is hard to do. that makes difference among us.

[finman66]

Last upside SPY p-bar I had from November 13, 2015 at $230.35 was just tagged.

Many many downside p-bars from throughout 2016 remain open anywhere from $180.50 to $199.11

[Eddie]

Second Neg D. coming up, this is the thing about trend day once the divergence failed you will have to be fast(super fast ) to tag along the first key counter trend failed. now you will have to decide the same move or wait for the buy failed. I think most of us see all this just when to make move and recognize the failed move and to take that instant quick decision to follow is hard to do. that makes difference among us.

RSI5 on 30 min ES chart very hot. Likely limits upside, but unless coming into resistance, tough to pull that short trigger. I thought i might have a scalp at 98.75, but this market wants to go up, up, up.

[BullBear52x]

Second Neg D. coming up, this is the thing about trend day once the divergence failed you will have to be fast(super fast ) to tag along the first key counter trend failed. now you will have to decide the same move or wait for the buy failed. I think most of us see all this just when to make move and recognize the failed move and to take that instant quick decision to follow is hard to do. that makes difference among us.

RSI5 on 30 min ES chart very hot. Likely limits upside, but unless coming into resistance, tough to pull that short trigger. I thought i might have a scalp at 98.75, but this market wants to go up, up, up.

right now I am going to sell under 301, sell the weakness move. that level is the stop for long. I am long right now since it's way overbought now I will reverse to sell under 301 or just let it runs.

[Al_Dente]

No sell signal on smalls yet on my end, intraday, 5min
Stop 103.53 TNA