05/24/2018 Live Update

[fehro]

/ES SPX … mind the pink bear flag SPX .. mind the morning gap

bear flag breaking ..mind lower gap.. and 20d/50ds indexes

Slipping..

[Daniel]

Market has shrugged off international news and tariff rumors many times, question imo is where to buy the resulting dip today.

BTWD!!

(buy the welcome dip)

[QED]

SPY New PBar overnight at 271.25

SPY 052418_01.jpg

That is not a P-Bar, that is a "tractor beam."
http://www.startrek.com/database_article/tractor-beam
.

[1der]

SPY 1 min chart showing Open (Blue) and closed (Gold) Pbars - They play a role, imho. But how to use this to trade??
And as I write, they 271.25 PBar is coming into play. The old PBas provided support/resistance points

[Trades with cats]

Carmeggedon is already picking up speed. Auto companies and production levels are rolling over. Expect extended factory closures this summer. Surf the net for charts of upcoming lease returns https://www.youtube.com/watch?v=I54wGOSg_BQ Yoda "you will be" (afraid).

[Cobra]

testing yesterday's low now, key time.

[Al_Dente]

Trump the great turn around again...NK meeting cancelled
I am also hearing that there will be big tariff on car import..which makes sense with his comment couple of days ago to autoworkers that he has a big pleasant surprise for them!

thanks for posting that letter

[Daniel]

testing yesterday's low now, key time.

SPY never quite reached yest low, and now strongly bouncing from that general support area btw 271 and 272.

[fehro]

/ES SPX … mind the pink bear flag SPX .. mind the morning gap

bear flag breaking ..mind lower gap.. and 20d/50ds indexes

Slipping..

IWM RUT weak.. took out yLOD.. mind the H&S on IWM 5m 1week… retests neckline here.. LOD goes.. target is $-2.33 159ish

[Cobra]

mini rebound target, must exceed it before bulls have some chances.

[1der]

PBar congestion provided bounce point for a scalp. 1 min candle body held 271.25 level.

Tractor Beam

[MrMiyagi]

QQQ SPY Intraday double-bottoms or bust.

[fehro]

/ES SPX … mind the pink bear flag SPX .. mind the morning gap

bear flag breaking ..mind lower gap.. and 20d/50ds indexes

Slipping..

IWM RUT weak.. took out yLOD.. mind the H&S on IWM 5m 1week… retests neckline here.. LOD goes.. target is $-2.33 159ish

mind cyan channel 20d SMA 2695ish near gap fill

[Al_Dente]

............... mind the H&S on IWM 5m 1week… retests neckline here.. LOD goes.. target is $-2.33 159ish

FEHRO: IS THAT THE CORRECT NECKLINE WE'RE TESTING/BREAKING?

[MrMiyagi]

QQQ SPY Intraday double-bottoms or bust.

BUST

sac

Capture.PNG (266.73 KiB) Viewed 14049 times

[Cobra]

breakdown the last low, now let's see if as usual any sharp reversal to trap bulls. Keep going down or consolidation would mean this bear may still have legs.

[fehro]

............... mind the H&S on IWM 5m 1week… retests neckline here.. LOD goes.. target is $-2.33 159ish

FEHRO: IS THAT THE CORRECT NECKLINE WE'RE TESTING/BREAKING?

The attachment 524iwm neck.png.png is no longer available

yes ish .. could be another larger complex one.. forming too.. pull back farther

[Cobra]

sharp rebound upon breakdown as usual, sign. now let's apply the mini target. exceeds it only means bulls took the 1st step toward stable, it doesn't mean bears are over.

[Al_Dente]

yes ish .. could be another larger complex one.. forming too.. pull back farther

thanks boss

[Cobra]

OK, now wait to see how the ema20 gets tested. should be another leg down to test the day low again, but if it simply breaks the ema20, then bears might be over for today.