ES 06-24 (2000 Tick) 2024_04_30 (11_17_36 AM).png Nothing to add to what has already been said. Market has to be concerned about a rug pull by the Fed. Yellen is voicing concern (which is a new move) so my guess is Powell has no choice, he must try to jaw bone about controlling inflation because he...
Bond people all saying this afternoon's data release by Treasury is a yawner. Wednesday morning "could" be market moving, then the follow up from Powell in the afternoon. Person noted on X that market liked earnings from those selling AI to others, did not like (Facebook) those trying to u...
ES 06-24 (2000 Tick) 2024_04_29 (9_42_22 AM).png As of Friday the Friday high was at the existing call wall. Supposedly most of the call wall survived expiration. When the Put wall was breached earlier last week we dropped hard and fast. The call wall today is not generating much follow through and...
ES 06-24 (60 Minute) 2024_04_26 (7_56_10 AM).png Early weekend post. IF Nvidia delivers yet another 100 point jolt it only gets us to the top of the range for a retracement. Starting to see this showing up on X as in "great opportunity to short if you missed the last one". People who publ...
Last week everybody and their dog was predicting a dead kitty bounce to around 5150 because earnings would be great for Mag 7. So far those who are paying cash back to shareholders are rewarded and those who are buying tons of Nvidia chips are punished. But everyone still calling for Nvidia to push ...
Mr. Market treated GDP like a normal news event. Took a long time but it climbed back. Everything hanghs on the big earnings reports tonight. Then what ever happens the focus will be on the Fed and Nvidia .
ES 06-24 (2000 Tick) 2024_04_25 (9_06_43 AM).png Like Bull Bear said, good day to do chores as we wait for earnings. As a wit on X said yesterday Zucker burg didn't get it. You are supposed to talk about AI not spend serious money on it. So we see if Mr Softy and Goog got the message. When the only...
ES 06-24 (27700 Tick) 2024_04_24 (8_57_35 AM).png So much for "we will make money next year" saving the market with cheep cars. If promising to buy a bunch of AI chips couldn't keep things moving up then the three big ones reporting today and tomorrow haven't got a chance unless they are ...
A different outcome that also needed five waves up. This prognosticator (Traders helping Traders) nailed the top. But he is uncertain at this time if it was The Top or if we need a slightly higher high.
Positive view. Had our five waves up now we need the ABC pullback (thinking earnings report disaster) then market takes off toward new highs, thanks to NVidia earnings report.
Tough situation for the next couple of weeks. Consensus is a kitty bounce to around 5150 or so then down it goes for the summer. Dip buyers are counting on the Mag 7 to blow us away with earnings. Tesla has nothing to offer. Cars are too much money so their answer is a $55,000 model that goes faster...