12/12/2017 Live Update

[te_fern]

Biotechs are not participating in today's rally!

[Al_Dente]

there's not much AD power to sustain this move.....

[Cobra]

consolidation, bias is up.

[Al_Dente]

Not sure what to think. That last pop was driven by news so it could easily reverse. Yet we are high enough now to trigger short selling but I don't see it. Therefor, on paper, the high is in and we will sink back into the range as we run out of buy the all time high buyers and do not much until tomorrow after lunch when the Fed will reveal nothing new.

Boss: what does Fumar say

[Trades with cats]

Fumar is working on his early holiday gift, has been half stoned for three days now, my trading is falling apart without him!

[Al_Dente]

Biotechs are not participating in today's rally!

Boss: Here’s 15 days %, STRAIGHT no juice
Your biotech are orange
You can see how semis (gray at the bottom) lag the QQQ (black)
Best is red financials

[te_fern]

Biotechs are not participating in today's rally!

Boss: Here’s 15 days %, STRAIGHT no juice
Your biotech are orange
You can see how semis (gray at the bottom) lag the QQQ (black)
Best is red financials

1212fifteen percent.png.png

It is interesting how the semis and biotechs, the high vol sectors, are both lagging. The market has definitely rotated....

[Trades with cats]

ES 03-18 the R1 at 2670.75 did not hold. yesterday's highj, overnight high and VWAP are all right at 2668 so 2668.50 is a good line in the sand.

[te_fern]

As Mr. Dente said, the financials are strong in this market....

[te_fern]

A pull back to the first moving average line and the R2 pivot...

[Cobra]

the pullback will be bought if not already being bought.

[Al_Dente]

why is the dow so strong?
INTRADAY, few moments ago

[Al_Dente]

just in:
Rand Paul NO on the budget bill
(not the tax bill)

[Al_Dente]

Earlier:
SPY new hi
Non-confirmation: VIX no new low

[Trades with cats]

Buy the pullback looking soft. Looks like a set up for a double top. Oscillators refusing to get out of neutral. Need another Senator to talk to the cameras.

[te_fern]

Big board ticks are going the wrong way for a new high....

[te_fern]

Financials have continued higher....

[Trades with cats]

ES 03-18 looking at VWAP again. So as usual either a double bottom sandwiched in with the double top (range time) or a breakdown. Pattern has been a sell down until the end of day ramp express.But past patterns do not guarantee future repeats.

[Trades with cats]

Kissed the VWAP and back to the upper channel. Waiting for a third sell signal, will probably fail like the first two!

[Trades with cats]

Renko land looks like consolidation so it can spring higher at Chair Yellen's farewell party.