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05/24/2018 Live Update

Re: 05/24/2018 Live Update

Postby Al_Dente » Thu May 24, 2018 2:57 pm

Small shorts are dicks
They turned red to green in less than 2 days
It’s the buy-to-cover-short crowd that’s to blame (see the 5min charts, not shown)

On a longer view, all the smalls were trying to do here is backtest the Jan high and the May breakout
I’m not ready yet to call it a “successful backtest”
60min
524sixty.png.png
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Re: 05/24/2018 Live Update

Postby Al_Dente » Thu May 24, 2018 2:59 pm

HAPPY HOUR
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Re: 05/24/2018 Live Update

Postby fehro » Thu May 24, 2018 3:01 pm

fehro wrote:grinding up .. goes for gap


no gap fill .. not bullish .. rolling over
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Re: 05/24/2018 Live Update

Postby Trades with cats » Thu May 24, 2018 3:16 pm

Two stinking hours clinging to the opening print.
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Re: 05/24/2018 Live Update

Postby Cobra » Thu May 24, 2018 3:22 pm

another breakdown then sharp reversal (green arrow, maybe really we should buy every breakdown), now since it's testing the upper blue line the 3rd time so breakout is a little more likely than down.
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Re: 05/24/2018 Live Update

Postby fehro » Thu May 24, 2018 3:26 pm

fehro wrote:
fehro wrote:grinding up .. goes for gap


no gap fill .. not bullish .. rolling over


what a tease… may pop up into the close to fill it.. or dump and not fill it.
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Re: 05/24/2018 Live Update

Postby Daniel » Thu May 24, 2018 3:27 pm

Cobra wrote:maybe really we should buy every breakdown


Yes! BTWD! (buy the welcome dip) :)
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Re: 05/24/2018 Live Update

Postby fehro » Thu May 24, 2018 3:28 pm

TRANSports +150 INDU red… NDX hanging man/tweezer top?
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Re: 05/24/2018 Live Update

Postby Daniel » Thu May 24, 2018 3:36 pm

QED wrote:[The market will be closed on Monday (May 28th) because of Memorial Day. The only people that will be trading after London closes tomorrow will be those that think they can beat the algos in low liquidity trading.

From Stock Traders Almanac:
"In recent years, the Friday before Memorial Day has become a getaway day on The Street, and volume is often diminished and trading uninspired. NASDAQ exhibits a similar pattern to S&P 500 over the same time periods."

It also adds that from 1986-2017 in addn to low volume there has been low volatility and virtually no net gains or losses over that time period. A flatline day, perhaps suited to aggressively range-trading.
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Re: 05/24/2018 Live Update

Postby Trades with cats » Thu May 24, 2018 3:43 pm

So yet another day doing every bodies favorite thing, trying to trade a flat range with low volume. As a trader one can only hope that the Chief-Tweeter will be on Marine 1 headed for his gold courses instead of disturbing the headline reading algos!
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Re: 05/24/2018 Live Update

Postby Cobra » Thu May 24, 2018 3:49 pm


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Re: 05/24/2018 Live Update

Postby Cobra » Thu May 24, 2018 3:51 pm

well, guess that's it for today. Friday has been generally bull friendly. thank you guys, I'll see you in another thread soon.

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Re: 05/24/2018 Live Update

Postby Daniel » Thu May 24, 2018 3:58 pm

EWY and FXI closing strong. No summit, no worry.
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