12/04/2018 Live Update

[Daniel]

From Briefing.com:
Apple has been downtrending today after a fiscal third quarter revenue warning from supplier Cirrus Logic (CRUS 36.63, -5.3%), which was tied to weakness in the smartphone market, and which fits in the stable of recent warnings from other Apple suppliers. On a related note, Apple was downgraded to 'Hold' from 'Buy' at HSBC Securities.

[BullBear52x]

Candle digest: weak support on this spinning top or Doji like candle. will see I don't like LL part of it. (ADX is crossing positive)

[te_fern]

Something like this?

Thanks boss
I like that “ideal buy point” which is roughly 2820 SPY
As Al Brooks reminded us this weekend: “Until there is a breakout, there is no breakout.”

You got it, Pasta Boss. I like Al Brooks. I have 4 of his books. Dense reading down to the nitty gritty. But I really do not look at H1H2, L1L2 much.

Is there a web site that he posts on for us to read? Or free daily/weekly updates?

[Daniel]

Actually another slim hope for bulls-- IWM may have just successfully tested its LOD from yest around 152.

Gulp. Perhaps not.

[Al_Dente]

2 min
Adjunct indicators and SMALLS
Almost ready for a buy-the-bounce intraday
It’s like choosing avocados: not yet, not yet, not yet, ooooooo dammm too late its over-ripe

[te_fern]

About to post the small triangle and oops....

[Daniel]

It’s like choosing avocados: not yet, not yet, not yet, ooooooo dammm too late its over-ripe

Respectfully disagree. That is NOT how to choose avocados.

..back later.

[te_fern]

2 min
Adjunct indicators and SMALLS
Almost ready for a buy-the-bounce intraday
It’s like choosing avocados: not yet, not yet, not yet, ooooooo dammm too late its over-ripe

124five.png.png

Boss, you explained my morning! But, glad I haven't bought the bounce yet.....

[Al_Dente]

fern: check your PM in a minute

[QED]

.
@Al_Dente, did you see (and copy) Tom Bowley's "$$EMPLOY" chart from his blog yesterday?

Here's A Bear Market Signal That's Yet To Turn Bearish
https://stockcharts.com/articles/tradin ... arish.html
.

[JFR]

Something like this?

Thanks boss
I like that “ideal buy point” which is roughly 2820 SPY
As Al Brooks reminded us this weekend: “Until there is a breakout, there is no breakout.”

You got it, Pasta Boss. I like Al Brooks. I have 4 of his books. Dense reading down to the nitty gritty. But I really do not look at H1H2, L1L2 much.

Is there a web site that he posts on for us to read? Or free daily/weekly updates?

Lots of free stuff.

https://www.brookspriceaction.com/

He has a following. One can see all his notes on the 81 bars of 5 minute duration reviewed each day. And one can subscribe to follow closely during the day. I have not checked in on his site for 3 or 4 years.

[JFR]

Trends. Ranges. Reversals.

[te_fern]

Trends. Ranges. Reversals.

2018-12-04_0811.png

Thank you JFR!!

[daytradingES]

10:12 AM 12/4/2018

Reviewing this morning:
Being ready earlier would have helped.
The main first leg est was down and we have had 2787.25 to 2766.75
That was the leg to be on.

That is most of the way to the low end est of 2762.50.
At this point is a question mark and the market looks stalled.
My feeling is a further push down, but can it push below the LE?
It could so the LE est is only a point to watch if you are short and falling into it.
2754.00 2755.50 =range rule
(of course odds favour a range day - and messy trendless day.)

NTA

[Al_Dente]

.
@Al_Dente, did you see (and copy) Tom Bowley's "$$EMPLOY" chart from his blog yesterday?

Here's A Bear Market Signal That's Yet To Turn Bearish
https://stockcharts.com/articles/tradin ... arish.html
.

Nice, thanks boss
I’ve been using UNEMPLOYMENT CLAIMS
$$UNEMPCIN

[daytradingES]

High Est 2794.75
Actual High 2787.25
Dif= 7.50

Low Est 2762.50
Actual Low 2766.75
Dif= -4.25

[Trades with cats]

There is a "Brooks Bars" tool for free with Ninja Trader software. It labels the bars following his rules. I would expect it is out there for other software.

Price action looking pretty much like Hemingway's question "How did you go bankrupt"? Slowly at first and then all at once.
Counter trend up waves are falling short of VWAP today, that was not the case yesterday.

[Al_Dente]

Pinocchio: We have a trade deal with China
no we don’t
yes we do
Kudlow: no we don’t, it’s not “signed, sealed and delivered” yet
Market down

[Trades with cats]

ES 2767.25 is the overnight low, this is the third attempt to break it in 30 minutes.

[te_fern]

High Est 2794.75
Actual High 2787.25
Dif= 7.50

Low Est 2762.50
Actual Low 2766.75
Dif= -4.25

Thanks for your work dtES. Definitely gives us some guide posts and targets....