04/16/2020 Live Update

[JFR]

ES 5. Down to a lower support level.

[Daniel]

XLE is another etf to watch carefully. It too is barely holding onto yest's low.

[Cobra]

Probably will test the yesterday's low.

[BullBear52x]

No support it will be a long way down.

[Daniel]

No gap fill yet on the QQQ--super strong RS to the other sectors, clearly best in breed right now...

[Al_Dente]

internals faded at the open
but the FANGS+ are still elevated
5m

[JFR]

Dow 30. The reds have taken over. Brave UNH leading the greens. AXP trailing.

[Heck]

SP.1 Jun Fut SELLING < 2806.25
$SPX SELLING < 2804.01
SPY SELLING < 279.74

Tight markets

[BullBear52x]

Internals, TICK was good yesterday with other weak internals, today they are all bearish bias. we may break down today, will see.

[BullBear52x]

5DMA is about to lose a support, this is the fight for short term bulls to hold. they will failed me thinks.

[Al_Dente]

5m
you can see FANGS+ (pink behind SPX) HOD, and two-day high
FANGS+ are loaded with all the HEAVIEST WEIGHTS in SPY, so that's important, but can change quickly

[JFR]

ES 5. Moved up off a low. Sitting on the EMA 20. Taking a break. Back later ...

[Cobra]

So obviously it's a range day. The range low might be in, now seeking the range high, assume it's the day high for now.

[merryme]

unemployment.pdf

(50.81 KiB) Downloaded 147 times

[brokebybernacke2]

unemployment.pdf

is that overbought?

[ccash04]

From what I can tell it is almost entirely Tech that is holding this up, tech and amzn. They are so overbought maybe more so than unemployment!

[merryme]

There is a lag in the available data so note the dates.

Revised chart so you could see better:

personal consumption - take 2.pdf

(58.21 KiB) Downloaded 133 times

[Al_Dente]

15m
pink line approximates the 5dma

[BullBear52x]

selling and take a walk, will see how long the market can stay calm. be right back.

[BullBear52x]

$VIX play