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11/21/2017 Live Update

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Cobra
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11/21/2017 Live Update

Post by Cobra »

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this bull may have legs.
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fehro
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Re: 11/21/2017 Live Update

Post by fehro »

bonds up strong. mind the gap fade.. and lower open gaps.
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Cobra
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Re: 11/21/2017 Live Update

Post by Cobra »


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Daniel
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Re: 11/21/2017 Live Update

Post by Daniel »

Cobra wrote:this bull may have legs.
Everyone keep in mind Al D's recent posting, courtesy of Stock Trader's Almanac, of the historical market tendencies of Thanksgiving week and the Monday after...
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Al_Dente
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Re: 11/21/2017 Live Update

Post by Al_Dente »

repost, Almanac:
today is the 15th trading day of the month
1113SAVEreminder nov.png.png
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
Daniel
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Re: 11/21/2017 Live Update

Post by Daniel »

QQQ currently testing last Thursday's high. (SPY is well above it's recent high.)

quick update: Qs over 155 and blasting thru any resistance that prior high might offer...
Last edited by Daniel on Tue Nov 21, 2017 10:49 am, edited 1 time in total.
Daniel
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Re: 11/21/2017 Live Update

Post by Daniel »

Al_Dente wrote:repost, Almanac:
Thanks AD, right on cue! :)

..and, also, this one:
THANKSGIVING WEEK [Almanac]
“The best short-term trade appears to be getting long into weakness on Monday or Tuesday of Thanksgiving week and selling into any subsequent rally by the end of Thanksgiving week, but remain nimble…”
fehro
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Re: 11/21/2017 Live Update

Post by fehro »

Pushing for ATH COMPQ gaps up to ATH others lag
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Cobra
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Re: 11/21/2017 Live Update

Post by Cobra »

looks like a strong uptrend day.
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Al_Dente
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Re: 11/21/2017 Live Update

Post by Al_Dente »

Daniel wrote:
Al_Dente wrote:repost, Almanac:
Thanks AD, right on cue! :)

..and, also, this one:
THANKSGIVING WEEK [Almanac]
“The best short-term trade appears to be getting long into weakness on Monday or Tuesday of Thanksgiving week and selling into any subsequent rally by the end of Thanksgiving week, but remain nimble…”
:D
Elsewhere, existing home sales at 10:00 ET
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
te_fern
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Re: 11/21/2017 Live Update

Post by te_fern »

Do we have enough gas in the tank to push over 2600???
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Daniel
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Re: 11/21/2017 Live Update

Post by Daniel »

Both NYSE and Nasdaq advancers are strong and near (or at) the hod.

Up/down volume has been strongly bullish since the Open on Naz, and somewhat strong on NYSE.
Last edited by Daniel on Tue Nov 21, 2017 10:59 am, edited 1 time in total.
Trades with cats
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Re: 11/21/2017 Live Update

Post by Trades with cats »

Interesting comment from Futures Trader 71 during his morning broadcast (Traderbite). He said normal behavior on a gap up open like today is a reversal down to shake out the weak longs then continue the move on up. But this market is rewarding the weak longs by immediately moving on up from gap up opens. He says this is the same behavior he traded leading into the dot com crash. He was careful to say that he wasn't predicting a crash, just noting the parallel.

My personal opinion is that in both cases the market was lead by smoke and mirrors story tech stocks and fueled by Fed surplus liquidity so you would expect traders to do something similar. Doesn't mean we get the same ending because the Fed has learned something, but we will get an ending. :o
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Cobra
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Re: 11/21/2017 Live Update

Post by Cobra »


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Daniel
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Re: 11/21/2017 Live Update

Post by Daniel »

Trades with cats wrote:...careful to say that he wasn't predicting a crash, just noting the parallel....
An excellent anecdotal example of the kind of complacency which has the VIX once again under 10 (currently 9.90)!
te_fern
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Re: 11/21/2017 Live Update

Post by te_fern »

Levered smalls are moving up nicely...
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Al_Dente
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Re: 11/21/2017 Live Update

Post by Al_Dente »

..........
Last edited by Al_Dente on Tue Nov 21, 2017 11:52 am, edited 1 time in total.
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Daniel
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Re: 11/21/2017 Live Update

Post by Daniel »

te_fern wrote:Do we have enough gas in the tank to push over 2600???
As Cobra has said so often these past years: "all bulls need is imagination". Stretched fundamental valuations can always stretch further.
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Cobra
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Re: 11/21/2017 Live Update

Post by Cobra »

probably the rest of the day will go like this as usual.
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Al_Dente
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Re: 11/21/2017 Live Update

Post by Al_Dente »

existing home sales
green
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
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