02/25/2020 Live Update

[BullBear52x]

major level to watch on SPX.

[Heck]

This is cool part about taking your first 5 handle and let the other half run, especially a volatile market like to day, just kick back and watch the reaction on the major support/resistance line. very over sold now, but no bottom to call to yet.

Nice trades

[te_fern]

BB52, good call on your 3200 level....

[BullBear52x]

I am sitting out now. wait for the next sell set up. coffee time.

[BullBear52x]

This is cool part about taking your first 5 handle and let the other half run, especially a volatile market like to day, just kick back and watch the reaction on the major support/resistance line. very over sold now, but no bottom to call to yet.

Nice trades

[BullBear52x]

BB52, good call on your 3200 level....

[Cobra]

Break the day low with strong bear bar in the next several bars (say 10 bars) then it'd be a downtrend day. Strong rebound here then it has some chances being a range day, will have to see how EMA20 works first.

[BullBear52x]

bulls is troublesome under 3214, I don't see much of a down side from here. will sell next sell up (never chase, Note to self)

[Mr. BachNut]

The NYMO cycle is down and not far from the turn zone.
The last up cycle looked tired. It did not rise far above zero and it could not hold above the line.
So, the turn was advertised and not a surprise. However, yesterday's trip down the elevator shaft felt like a surprise.
More data as proof that I haven't got a clue what will happen.
That said, a corrective NYMO move toward the zero line would not surprise in the days ahead.

Pricewise, we got the mother of all gaps yesterday.
Pac Man munched his way through a bunch of down targets with plenty more below.
We now have two above. One can wonder when Pac Man will reverse to go get those...

We have a NYMO benchmark at SPX 3,205.37 that was left un-tagged from a prior cycle.
This piece of unfinished business just got taken care off as I write.

There is an open gap in the ES future at 3,175.50 on deck for closure.
It is just below the January 8th spike low, where some stops should be residing.

I am flat after a day trade that closed a few minutes ago.
Pursuant to my superstition that the market moves big when I am unavailable, I was in meetings much of the day yesterday.
My SPX long runner was closed Friday at BE. My R2K long was closed Sunday night at a loss. Undersizing it turned out OK.
I had a short setup on deck for Sunday, but it does not permit shorting into the hole. The gap and go left it on the sidelines.
So, I am left with shorter time frame setups for now.

[BullBear52x]

one more trade for me today, so far this is what I go by right now, waiting for good setup.

[BullBear52x]

TRIN is bullish, this tells me the daily time frame is no fear, This tells me up volume is better than down volume. only price pays crew will have to wait for show me the MONEY before buy back in.

[te_fern]

The crash channel, need to break out of it to the high side....

[te_fern]

See if that's a double bottom at 3190...

[BullBear52x]

Today is a sell day for me, but I forgot buy the Honey hole setup, now I can buy this dip, will see.

[te_fern]

No double bottom, going lower....

[BullBear52x]

I am buying in now, 3 push down.

[BullBear52x]

Always take the first 5 handles, note to self

[te_fern]

Coolbiz went long with BB52...

$SPX low at 3186.83 was the low for a Wave A, expect a retrace for Wave B for 80-120 points in coming week-weeks. discl: went long

[ccash04]

Small buy now, support around here and oversold pretty severely now should get a nice bounce.

[te_fern]

If anyone likes to take cruises, Carnival gives you a credit (I think $250) on your ship account if you own 100 shares. Just brought a 100 at 36.50. NTA