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chart doesn't say up or down but my guess is up and up upon the open like Apr 4?
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Price has been surging upward on SPY, QQQ, IWM... in line with Cobra's opening 'guess'... but Naz Up/Down vol is only 1:2 bullish, and advancers are lagging even worse... well under 1000. This feels like a high voltage low amperage recovery move.
265 SPY has seemed to be a sticking point on various occasions past few weeks. Price is right there, now.
Looking out across the sector board, aint nobody too happy with the current state of affairs except Europe ETFs and the euro. They win a trade war btw US and China.
Also gold miners are up > 1%.
Defensives (XLU, XLP) are up small. Semis are cratering.
Last edited by Daniel on Fri Apr 06, 2018 10:03 am, edited 2 times in total.
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morning hourly hollow red. implication is on top left of the chart itself.
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fehro wrote:indexes struggle to fill gaps and move over MAs .. so far..
Drat, Fehro, I was all set up for a sizeable commitment to a Fade the Fill entry on QQQ, given the relative weakness of the semis right off the get go.
But QQQ never reached my limit entry.
Daniel wrote:265 SPY has seemed to be a sticking point on various occasions past few weeks. Price is right there, now.
Looking out across the sector board, aint nobody too happy with the current state of affairs except Europe ETFs and the euro. They win a trade war btw US and China.
Also gold miners are up > 1%.
Defensives (XLU, XLP) are up small. Semis are cratering.
yes. some trader talk about this top of range and moving the markets lower into earnings season (starts fri 13th..) - Powell chat this afternoon might move things....
fehro wrote:indexes struggle to fill gaps and move over MAs .. so far..
Drat, Fehro, I was all set up for a sizeable commitment to a Fade the Fill entry on QQQ, given the relative weakness of the semis right off the get go.
But QQQ never reached my limit entry.
interesting.. SPY never filled yesterday's gap.. so figured it will not fill todays… .. abandoned baby bull trap.. mind that overnight low on the /ES .. sounds nuts .. but
So we should be playing by FOMC rules as we move into the Chair Powell speech at 12:30 Central time from Chicago. It will be live on You Tube from the Economic Club of Chicago. Topic is the economic outlook. You know they would not be doing this if they thought the markets understood their plans, so clearly they are not happy with the market response. So buckle up and be ready for more turbulence.