05/10/2022 Live Update

[Ratbastrd]

If I were short market I would seriously consider covering. Options flows look pretty bullish up to $4170. Feeling good about my long positions.

[BullBear52x]

The swing sell setup triggered sell, day trade is easy with the box as range Hi/Lo. tomorrow will be easy trade.

[BullBear52x]

If I were short market I would seriously consider covering. Options flows look pretty bullish up to $4170. Feeling good about my long positions.

Good feeling knowing you nailed the good entry, good luck.

[Al_Dente]

Today: JPM's Elan Luger, head of US trading.
The most positive thing I can say about this market is that ... the overwhelming consensus: Everyone is a bear.
China is shutdown, inflation is running wild, Russia / Ukraine continues to impact supply chains... the fed has lost control, QT is coming, a recession is coming, performance is terrible...
...investors will likely require a healthy discount to fair value before getting excited about equities again. Whether that level is 4000, 3800, or 3600 I haven’t a clue, but we are getting closer.... Our assumption has been “fair value” for this market is $4200
... I haven’t seen investors as unanimously bearish since 2008. And we all know, there is no rally like a bear market rally. Maybe this week’s CPI is the catalyst?

[BullBear52x]

The danger of bear market is they are specialized in sucking you in.

[jademann]

CPI is 8:30am tomorrow. In my experience it takes quite a bit of time and effort to dent inflation, but we shall see..
https://www.bls.gov/schedule/news_release/cpi.htm

[brokebybernacke2]

CPI is 8:30am tomorrow. In my experience it takes quite a bit of time and effort to dent inflation, but we shall see..
https://www.bls.gov/schedule/news_release/cpi.htm

oil has been stuck in range, other materials dropping in cost , personally expect a brief respite where all will think its over

[merryme]

BB squeeze on AAPL.

[BullBear52x]

More like a bull trap than the bear trap. WDIK? Peace!

[Ratbastrd]

The danger of bear market is they are specialized in sucking you in.

Indeed!

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[Cobra]

Members only update at 3:40 pm
http://www.cobrasmarketview.com/2022/05 ... ay-update/

[Cobra]

Members only update at 3:50 pm
http://www.cobrasmarketview.com/2022/05 ... ay-update/

[Cobra]

Well, guess that's it for today. Here's what Wednesday tomorrow looks like: https://stockcharts.com/public/1684859/ ... /533449381

Thank you guys, I'll see you in another thread soon.

Before the close, please take a little time to vote for me, thanks: https://stockcharts.com/public/1684859/ ... /533449381

[jademann]

Oh no.. no one expects the spanish... I mean darth sideous!

I am still looking for VIX 36 to feel more comfortable on the long side
https://schrts.co/VGqJpXHS