05/02/2020 Weekend Update

[JFR]

From " From it is what it is department" Key focus, An early stage of a trend reversal, Fundamental and technical demand it, market should be correction, but on the other side of the coin is power that be with unlimited of resources to do what it take to save this marker. in TA point of view, stick on what is in front of you.

Weely candle can not be any more bearish than this. lets hope that mid up channel can hold up.

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the fear is on the rise with no panic to call out to.

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1-2-3 trend reversal? not quite there either if you are looking at a daily trend change pattern. under 2600 to really say the bulls are out. under 2700 alot of bear will celebrate but I think 2600 is really a support to make or break for good.

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On my regular swing position, Bulls are losing 5 DMA support, for me it is easy decision, sell the rip until it failed, for now No LL to call out to confirm trend change, the HH should gain a little respect here. For this time frame (5min) a trade under 2750 will confirm trend change from up to down. so...short term intraday going into next week, find excuse to sell until it doesn't so. keep it easy, Peace!

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Brilliant work, as always, BB52. Thanks for sharing.

[JFR]

Mixed messages. Not a surprise. Could go either way. Lots of bad news. Lots of announcements. Lots of opportunities. Lots of money looking for placements.

[JFR]

SPY daily.

[tim-follows]

[img]

minor divergences

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[Al_Dente]

Please check the Warren Buffett news stories, Saturday.
Buffett liquidated all his airlines holdings
"Pundits" expect big down because of this

[Al_Dente]

Northman calls the weekly “a massive weekly rejection candle”
Bulkowski says: “Shooting Star, Bearish reversal 59% of the time”

[Al_Dente]

LONG TERM ... REALLY LONG TERM
No long-term longs until SPX regains her 12sma monthly

Just for fun, compare 12sma monthly during the 1929 crash
https://www.advisorperspectives.com/ima ... 569260.gif

[jademann]

From the is it what it is dept

No big bear moves until blue line crosses red line
https://stockcharts.com/h-sc/ui?s=%24VI ... 2958886332

I think we will see a narrow range for a month or two
http://schrts.co/BbznDnuy

[JFR]

https://www.marketwatch.com/markets

[JFR]

ES 15 minutes. Down from Friday, but up from Sunday evening.

[JFR]

From AutoChartist. Dow 30.

[Heck]

SP.1 Jun Fut SELLING < 2,814.50

Don't look back

[Heck]

Extreme Greed = DOWN

Stocks have outperformed bonds by 12.36 percentage points during the last 20 trading days. This is close to the strongest performance for stocks relative to bonds in the past two years and indicates investors are rotating into stocks from the relative safety of bonds.

[Heck]

Greed = DOWN

During the last five trading days, volume in put options has lagged volume in call options by 41.00% as investors make bullish bets in their portfolios. However, this is among the lowest levels of put buying seen during the last two years, indicating greed on the part of investors.