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fehro wrote:/ES 15m.. fwiw.. minor H&S … mind a retrace to yellow triangle.. key area… SPX 200d SMA key to the downside.. 20d.50d to the insane upside move.
like both of these to play out, yesterday's move, back peddle on tariffs, jamie dimon saying all real peachy for banks, has me leaning toward the insane in due time, still enuff short juice...but 2666ish level will provide resistance pull back but become new floor once they rocket over it?....
Bill's Morning Porridge from London at Zerohedge today he said the firm's technician told him yesterday was just a squeeze and the 'tell' was the relatively light volume. So here is one hour relative volume compared to a 20 day moving average. This chart is big enough I could do the 40 day or if anyone thinks it would make a difference the hour by day of the week for 8 weeks. That is the volume compared to the prior 8 Wednesdays.
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it's morning hourly filled black bar. the implication is on the top left of the chart itself.
Attachments
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[Kudlow, this morning at WH, paraphrased]
Both countries put out proposals
Nothing enacted yet
We’re gonna put it out for comment for a couple months
[blmbrg interviewer opines: this could go on F O R E V E R]
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
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Strong part of the week for energy. Estimated inventory and production level reports are safely in the rear view mirror and the only semifactual numbers coming up are Friday's rig count and you have to lag that by months. We will see next week after the COT gets digested if the Hedge Funds are adding or easing their essentially record long positions.
QQQ don't get it, wire service this morning talking about Amazon about to land 10 billion contract with Department of Defense for cloud services, that is their 50% margin bright spot in their business.