07/17/2015 Live Update

[Al_Dente]

note GOOGL gap on earnings

[Daniel]

Needless to say, tech sectors strong today, with hi profile earnings mostly positive.

Transports also showing RS, along w TLT-- and KRE showing another weak day, as it has been almost inverse to long bonds recently. And of course Brazil, LatAm, and the oil sector, weak again.

[Al_Dente]

[daytradingES]

share buybacks
"Part of the reason for that cash hoard has been QE and near-zero interest rates, which have made it more attractive to take on debt to help fund share repurchases.

While there is no direct relationship between the two, the price tags on QE and buybacks offer an interesting coincidence: S&P 500 companies have spent about $2.41 trillion on buybacks over the course of the current bull market, according to S&P data, compared with a $2.37 trillion rise in the Fed’s balance sheet since the start of QE.

Even with the Fed expected to start raising interest rates toward the end of the year, the trend of padding earnings per share with buybacks continues, according to Silverblatt.

“It’s the addiction now,” Silverblatt said. “We’re trading in one for another.”

Silverblatt said about 12% of companies in the S&P 500 are already on track to reduce shares by about 4% or more, compared with the second quarter a year ago. He expects that to grow to about a fifth of the S&P 500 when all the numbers are in. That provides a significant tailwind to earnings per share, or EPS."
http://www.marketwatch.com/story/how-st ... op_stories

[Daniel]

spy is trading nearly flat, while up/down volume on NYSE is running quite bearish.

Distribution? On an Opex Friday?

[johnnywa]

Isn't goog responsible for 7 snp points??

[Al_Dente]

Relative Strength shows massive rotation into tech at the expense of all other sectors
Health rolling over for the first time since May

[Daniel]

spy daily pivot = 212.06 = current

Very range day so far.

[Al_Dente]

As we approach the promised land, can technology take us there all by herself, solo ?

[Al_Dente]

Today’s internals bias is down
And that dashed green line is actually the neckline of a potential you-know-what

[QED]

Fehro, do you have any thoughts on QQQ levels? I am trying to decide where to reduce my position. Thanks!

[MrMiyagi]

spy

qqq

[fehro]

SPX possible stealthy sloppy H&S 5m.. take out 2121 neckline target 2114.. top of open gap. fwiw.

[MrMiyagi]

What gives; RBC shows SPY up $1.43, TD shows SPY down $0.28 but both at the same price of $212.02 like Stockcharts.

*nevermind, it just fixed itself

[jway888]

What gives; RBC shows SPY up $1.43, TD shows SPY down $0.28 but both at the same price of $212.02 like Stockcharts.

Friends don't let friends trade on TD

[MrMiyagi]

Friends don't let friends trade on TD

TD is the supplier of pBars

[Al_Dente]

H&S target is contingent on breaking the neck

[Unique]

A little into trading psychology about the week I had and thought it could help others that are in similar situations:

Today, I just realized I missed out on a riding 1000% gain on GOOGL and settled for a
double earlier this week. Context: I longed both AMZN and GOOGL around 9:40 on Monday and
took majority of profits on both when it doubled by Tuesday, I kept 1/10 of initial AMZN riding until
Thursday. I vividly remember when these situations often occur a few years ago, I would become very
moody or/and lose sleep over these types of things. It’s important to take a step back and realize,
trading is a life long journey of continuous improvement and learning while being disciplined and
following your own rule sets. You can’t realistically squeeze every dollar out of every trade you execute,
therefore it’s a waste of time to keep thinking about it. It is what it is, accept it and move on. There’s no
looking back for trading, especially if you’re a day trader like me. Life is too short, gonna enjoy weekend
with friends now. Peace out and have a great weekend all!

[jway888]

Friends don't let friends trade on TD

TD is the supplier of pBars

in which I trust your pBars more than TD literally on a scale of 1000000%

[fehro]

Fehro, do you have any thoughts on QQQ levels? I am trying to decide where to reduce my position. Thanks!

Tough call... possible resistance here... but so so close to all time highs.. COMPQ took out 2000 highs.. NDX has not... so a tad peculiar. Could pop once more.. but indicators are looking weak. Weekly candle at this point looks bullish.. so 'could' see a doji next week, slightly higher high?