10/20/2021 Live Update

[Cobra]

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The pullback overnight looks like a bull flag, so bias still is up.

Flat open so likely it's just a range day.

[BullBear52x]

Honey hole special for bears today. find excuse to sell.

[JFR]

SPY 15. Just above yesterday's close. All's quiet so far.

[JFR]

SPY 5. Off to the races.

[BullBear52x]

Same game different day. looking for the right entry.

[BullBear52x]

Still pushing, counter trend setup. come2papa.

[Mr. BachNut]

*grumbles* Posting too much.

We have closed the last up gap target on SPX. ATH next?
We have opened up a fresh down gap.
That makes 14 down gaps in the current stack.
A pullback to the middle keltner band to close a few of those wouldn't surprise.

We have a negative NYMO divergence, which suggests caution.
However, as long as NYMO is positive, bulls have the bias.

We also closed an open VIX down gap this morning on the futures expiration.
That leaves one last down gap at 15.07.
As noted before, we are in a zone where further SPX gains likely to be given up eventually.

Still long SPX with a BE stop.

[Al_Dente]

During the day, The AIA's Architecture Billings Index for September (a leading indicator for commercial real estate).

At 2:00 PM, the Federal Reserve Beige Book, an informal review by the Federal Reserve Banks of current economic conditions in their Districts.

[Al_Dente]

*grumbles* Posting too much....

NO MR BACH, you are not posting too much.
I value your posts.... never enough...

[BullBear52x]

I am on the south bound train now, Choooochuuu

[te_fern]

Mr. Bach, I agree with Pasta Boss, your posts are great!!

[Al_Dente]

Double check everything on stockcharts intraday
it may be a bit off

[te_fern]

I wish we had a "like" button on the board!!

[te_fern]

Smalls have gone crazy today and Tech not so much!

[te_fern]

Smalls...

[Al_Dente]

TRIVIA:
There is an estimated $13.5 trillion in assets benchmarked to the S&P 500. 
A 2% decline from $13.5T is a collective loss of about $270 billion.

Here’s some context for that figure. The 2021 global GDP estimate, or value of all goods and services bought/sold in the world, comes to $92 trillion. The U.S. takes the top position with $20.5T in GDP. China is second with $13.4T.
So, the amount of capital benchmarked to the S&P 500 is roughly equivalent to the annual GDP of China. 
[CBOE 10/19/21]

[BullBear52x]

The gap like there's no tomorrow.

[Al_Dente]

I think we just hit an ATH on SPY but please double check

last high was: Thu 09-02-2021 open 451.87 high 452.60 low 450.47 close 451.74

[Cobra]

Break to the new day high in the next couple of bars then it's an uptrend day.

[JFR]

SPY 5. Pullback to the EMA 20. Time to re-load. But be careful. Just when you think it's safe to ...