02/07/2020 Live Update

[Al_Dente]

"Maersk, the world’s largest shipping company, have seen it shares tumble 23% from the peak in December and 6% since the coronavirus hit the official newswire on January 20.

[JFR]

ES 5. A couple of expansion bars. Down. Up. Inverted hammer. Now for that coffee/snack break.

[Al_Dente]

I'm a bit suspicious here because junk should be lower for bears ... and it's holding ... so far...
15min

Follow up:
Throw in the ratio HYG:LQD which clearly shows that the good corporates (LQD) are favored over the bad corporates (junk, HYG)
[As with all ratios: when the ratio is up, the numerator is in charge; when the ratio is down, the denominator is in charge]

[BullBear52x]

Good luck guessing balanced market, one thing for sure the break to the up side failed to move up, now a break to the down side will be more favorable.

[BullBear52x]

Cash SPX Fib, Price action is back in bears hand once again.

[JFR]

ES 5. Breaking down hard beneath the pivot.

[Trades with cats]

ES 3326 big lump in the order book
whops, they dropped to 3325

[JFR]

ES 5. Down hard again. Moving from desktop to tablet. Later ...

[Trades with cats]

Does that look like the entry to the bat cave?

[BullBear52x]

TRIN is now agreeing with this dump.

[Cobra]

Testing the day low, volume surge, so could be a rebound here first then we'll see. Watch for possible typical breakdown then sharp reversal up.

[Trades with cats]

No surprise order book is getting lumpy around ES 3320 as you would expect a major options strike and gamma level to get the big boys active. And all of us little pilot fish following the sharks as well

[JFR]

ES 5. Finding support.

[te_fern]

Fell through PL's 3325 line and now back testing it. Will we go lower??

[BullBear52x]

No surprise order book is getting lumpy around ES 3320 as you would expect a major options strike and gamma level to get the big boys active. And all of us little pilot fish following the sharks as well

3320 = 1std

[BullBear52x]

3320
3212
3205

[JFR]

ES 5. Moving back up towards the EMA 20.

[Trades with cats]

They got the bounce. Is it a reload shorts or go long opportunity? My rules say wait for the higher low before going long after a big drop towards the end of a Friday.

[BullBear52x]

Cash SPX Fib, bears still on the stage.

[JFR]

ES 5. Resistance at the EMA 20.