05/01/2018 Live Update

[Daniel]

Can SPY make it back to 265 tractor beam zone today?

The Fed meeting tomorrow and Thurs could pop it into another zone entirely, but yes in the meantime the 'pull' to that level has been unusually consistent.

[Daniel]

A quick tutorial on MACD.

"Moving Average Convergence Divergence"

..there, wasn't that quick? And that's all there is, and all one needs to know.

A faster MA, a slower MA, their convergence or divergence-- and a smoothing MA of the result. Pick any MAs you want, and voila: an MACD indicator.

12,26,9 is what Gerald Appel, the originator, chose. It has become the std. It doesnt need to be.

[Al_Dente]

“The U.S. Energy Department plans to offer a total of as much as $30 million to researchers developing stationary energy storage systems that can deliver power to the grid for as long as 100 hours”
https://www.bloomberg.com//news/article ... -not-hours

[fehro]

maybe not wedgie… but at resistance.. looks like it wants to fill gap.. IWM Qs green.. SPX struggles a little here AAPL at HOD ./CL stalls at resistance.

[Trades with cats]

I was u sing the overnight low and the opening print as stop loss levels earlier today. If this is just a short squeeze yesterday's low and close would be the last two obvious levels and somewhere in here this will run out of gas.

[fehro]

/ES at resistance

[Daniel]

A quick tutorial on MACD... 12,26,9 is what Gerald Appel, the originator, chose. It has become the std. It doesnt need to be.

Also, the crossover of the faster MA-- or a crossover of the smoothed signal line-- is not the only way to use MACD.

In addn to using quicker or slower MAs in the pairing, in order to generate more or fewer signals, many will use secondaries like the Rate of Change in which the histogram is getting closer or wider.. or whether a crossover takes place in positive or negative territory, or around the neutral level.

Etc. There is quite a body of work around this indicator, above and beyond what Gerald Appel originally wrote about it.

[Daniel]

IWM green

From about 11am IWM has been a monster to the upside. Completely shed its relative weakness of the first 90min.

[Trades with cats]

Dollar up oil down had to contribute to the small caps. However you know they are going to call this a short covering rally. That has to be semi-valid. I sure would not want to be short into Apple earnings algo fest followed on by the FOMC algo fest.

[fehro]

maybe not wedgie… but at resistance.. looks like it wants to fill gap.. IWM Qs green.. SPX struggles a little here AAPL at HOD ./CL stalls at resistance.

yup.. filled gap

resistance again.. not sure.. those dailies.. are looking pretty hammers.. only thing.. rally started too early.. let everyone in.. so.. mind the head fake still .. was too easy..

[Trades with cats]

Talk about a good trading system, this was tagged on the end of an article about Gandalf's latest predictions at zero hedge-

" just keep doing the opposite of what Gartman predicts: so far this year, that particular strategy has had a 92% hit rate, making Gartman the single most important "factor" in the stock market."

[Al_Dente]

HAPPY HOUR, SAD DAY
It’s a sad day for guitar lovers, but let’s hope Gibson can restructure and come out of bankruptcy “fine”
GIBSON GUITARS is a private company, not a public company

[QED]

A quick tutorial on MACD... 12,26,9 is what Gerald Appel, the originator, chose. It has become the std. It doesnt need to be.

Also, the crossover of the faster MA-- or a crossover of the smoothed signal line-- is not the only way to use MACD.

In addn to using quicker or slower MAs in the pairing, in order to generate more or fewer signals, many will use secondaries like the Rate of Change in which the histogram is getting closer or wider.. or whether a crossover takes place in positive or negative territory, or around the neutral level.

Etc. There is quite a body of work around this indicator, above and beyond what Gerald Appel originally wrote about it.

Your "quick tutorial" seems to be getting longer!

[Cobra]

the pullback probably would be bought.

[fehro]

maybe not wedgie… but at resistance.. looks like it wants to fill gap.. IWM Qs green.. SPX struggles a little here AAPL at HOD ./CL stalls at resistance.

yup.. filled gap

resistance again.. not sure.. those dailies.. are looking pretty hammers.. only thing.. rally started too early.. let everyone in.. so.. mind the head fake still .. was too easy..

[Wallstreetrader]

gap close crazy market , aggressive sellers won't give up !
Unfortunately i now read these as neckline test ...

[Trades with cats]

If this turns into an ABC before heading back down we sure have the upcoming events in the news cycle to make it happen. Similarly the potential to blast through the 2666 level and back into the highs is also there. I am doing a pre-turbulence check of all my safety gear!

[fehro]

maybe not wedgie… but at resistance.. looks like it wants to fill gap.. IWM Qs green.. SPX struggles a little here AAPL at HOD ./CL stalls at resistance.

yup.. filled gap

resistance again.. not sure.. those dailies.. are looking pretty hammers.. only thing.. rally started too early.. let everyone in.. so.. mind the head fake still .. was too easy..

SPX .. AAPL better not disappoint.. could be uber ugly tomorrow… /CL oil about to roll over on dollar strength.. it dumps with AAPL…nothing to hold us (indexes) up

market seems overly confident on AAPL… and FOMC .. doesn't give you fuzzy bullish feelings..

[Cobra]

members only update at 3:50 pm
http://www.cobrasmarketview.com/2018/05 ... ay-update/

[fehro]

hammers .. or tryin