12/05/2019 Live Update

[Al_Dente]

The Dow was up 10.5% over the course of just 74 trading days from mid-August to late November.
That kind of rally is similar to the ones that ended previous bull markets, data from Ned Davis Research shows.
https://www.cnbc.com/2019/12/04/bull-ma ... d-one.html

[Trades with cats]

[Vaamsy]

Last try on the short side for the day...

[Cobra]

this bull shall have legs. up or down all decided by what Trump said.

[BullBear52x]

[BullBear52x]

The news will follow the TA entry point, never ahead.

[Vaamsy]

Nice. Hopefully it continues down!

[Cobra]

hmm, did Trump say something again?

[Al_Dente]

HAPPY HOUR

[Trades with cats]

Vaamsy, hate to say it but it wasn't just your impeccable timing. Wall Street Journal said ag exports to China going to be less than what White House has been claiming. Triggered the algo's and once again the market proved it wants to be up.

This should not be market moving newsd, why would they need as many soy beans when they have lost half of their hogs to African Flue.

[Vaamsy]

Back to counting pennies...

[Trades with cats]

Went to extended hours on the chart. Black vertical is when markets close at 4:15 GMT 5 (Eastern), yellow stripe is the New York open at 9:30 and the grey strip is London Frankfurt close. This chart shows GMT 7 (Mountain Standard).So makes opening gaps harder to see but it did straighten out the MACD and related bar colors.

[JFR]

Yikes. As Cobra has noted many times, the first move is usually false. Back up we go. ES five minutes.

[Mr. BachNut]

The NYMO cycle is down. Last post reported it up.
That previous up cycle looks like a short pump into month end, which was promptly dumped.
Trappy is the word.
At the moment, NYMO appears to be making a corrective move up to the zero line.

Price is in a gap sandwich at the moment.
It is also adrift between the upper and middle keltner bands.
Price generally likes to go touch bands.
So, if it can't make progress to one of them in the next few days, it will make progress to the other.
Pick your target...

I am still long my runner positions.
Trade below Tuesday's low would stop me out.
However, given how far down that is and the negative NYMO, I am going to pick a spot before the weekend and cut them in half on a discretionary basis.
I am emotionally ready to close out the year.
Trade below Tuesday's low also argues short, but the bears need to show some muscle. The volumes Monday and Tuesday were on the light side for the price move.

[BullBear52x]

Chart for the road: PPT is here to serve and protect, don't be scare in this fearful market. not buying it. Peace!

[JFR]

Just another day at the office ... downstairs, that is.

[Cobra]

members only update at 3:36 pm
http://www.cobrasmarketview.com/2019/12 ... ay-update/

[JFR]

ES five minutes. Up to a resistance level. Have a good one. Time for food and drink.

[Cobra]

members only update at 3:50 pm
http://www.cobrasmarketview.com/2019/12 ... ay-update/

[Cobra]

well, guess that's it for today. here's what Friday looks like: https://stockcharts.com/public/1684859/ ... /533449397

thank you guys, I'll see you in another thread soon.

before the close, please take a little time to vote for me, thanks: https://stockcharts.com/public/1684859/ ... /533449397