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10/27/2021 Live Update

10/27/2021 Live Update

Postby Cobra » Wed Oct 27, 2021 8:59 am

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Two legged pullback which was far more than bears could ever hope so maybe a rebound upon open.

Flat open so likely it's just a range day.
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Re: 10/27/2021 Live Update

Postby JFR » Wed Oct 27, 2021 9:11 am

SPY 15. Just above the previous close.


2021-10-27_06-09-56.png
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Re: 10/27/2021 Live Update

Postby Trades w 2 Cats » Wed Oct 27, 2021 9:26 am

Two things, first media saying minimum corporate tax on Bezos etc. and of course the new wealth tax on just the super rich. Second, while earnings are beating lowered expectations media pointing out that the growth is very very low raising questions about valuations.
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Re: 10/27/2021 Live Update

Postby BullBear52x » Wed Oct 27, 2021 9:28 am

Another Negative price action yesterday. more weakness to be expected, a trade lower than yesterday's LOD will confirm the daily bearish shooting star.
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Re: 10/27/2021 Live Update

Postby Trades w 2 Cats » Wed Oct 27, 2021 9:41 am

If, as some on twitter (Master Wu) claim we are in a wave 4 that needs a few days then Speaker Pelosi having the big vote end of the week would be a start. Senate passing 2 plus trillion new spending would certainly count as potential rocket fuel for that wave five before the Fed ends the party. Looking to Washington cause it seems most of the important earnings are in the rear view mirror, and the only other thing coming towards us is holiday sales numbers. And of course all that retirement money at year end. :lol:
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Re: 10/27/2021 Live Update

Postby BullBear52x » Wed Oct 27, 2021 9:49 am

Crazy fast move, If there will be a down trend day, this is it. or sideways crappy market to trade.
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Re: 10/27/2021 Live Update

Postby Trades w 2 Cats » Wed Oct 27, 2021 9:50 am

MES 12-21 (4000 Tick) 2021_10_27 (8_48_07 AM).png

Nice action, tested yesterday low with a good looking reversal bar, now pausing at yesterday VPOC after busting my good looking trend line.
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Re: 10/27/2021 Live Update

Postby BullBear52x » Wed Oct 27, 2021 9:55 am

5 min swing setup, got support, I was hoping for a fail here and head down to 5 DMA support then having a late day rally. will see.
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Re: 10/27/2021 Live Update

Postby Cobra » Wed Oct 27, 2021 10:09 am


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Re: 10/27/2021 Live Update

Postby Al_Dente » Wed Oct 27, 2021 10:12 am

VIX is in the zone where SPY topped in July, August and September (see red boxes)
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1027vix.png.jpg
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Re: 10/27/2021 Live Update

Postby BullBear52x » Wed Oct 27, 2021 10:40 am

Bears need to keep lower closed to have a bearish reversal on candle formation.
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Re: 10/27/2021 Live Update

Postby te_fern » Wed Oct 27, 2021 11:01 am

bouncing around, support at lower line....
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Re: 10/27/2021 Live Update

Postby Ratbastrd » Wed Oct 27, 2021 11:33 am

Al_Dente wrote:VIX is in the zone where SPY topped in July, August and September (see red boxes)
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The attachment 1027vix.png.jpg is no longer available


Good observation! This is my "early warning" chart (Ratio VIX:VXV) which is pretty widely used by a lot of the options and vol guy's, but modified for my purposes. When the ratio of front month to 3 month vol falls below .78 markets are (historically speaking) getting toppy. It's really only valuable a few times a year but works well for me. What I like best about it, is that it is almost always early, allowing me to scale out of long positions and swing trade short. I have a 1/2 position (short) in TZA & SQQQ, will add on strength.

VIXVXV.jpg
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Re: 10/27/2021 Live Update

Postby Cobra » Wed Oct 27, 2021 11:39 am

The line below probably won't hold another test and if breakdown, likely it'd be for real.
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Re: 10/27/2021 Live Update

Postby JFR » Wed Oct 27, 2021 11:49 am

SPY daily, PnF. No quit in the bulls. It almost seems like the market cannot have a crash once again. Too much bullish money. Oh yeah? With hedge funds and inverse ETFs there will be plenty of downward pressure. When? We will see it in the charts. Meantime, game still on for the bulls.


Screenshot_20211027_084944.jpg
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Re: 10/27/2021 Live Update

Postby Al_Dente » Wed Oct 27, 2021 11:51 am

thanks rat :D
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Re: 10/27/2021 Live Update

Postby Al_Dente » Wed Oct 27, 2021 12:01 pm

just 31% of issues on the NYSE are advancing at the moment ($NYADV:$NYTOT)
in other words there are 2.17 times as many decliners as advancers ($NYDEC:$NYADV)
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Re: 10/27/2021 Live Update

Postby Al_Dente » Wed Oct 27, 2021 12:08 pm

5min
SPY testing testing testing
fangs (pink) are on higher lows which helps the bulls
SPY momentum down
options traders thought of buying a few calls, but then changed their minds
1027five.png.jpg
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Re: 10/27/2021 Live Update

Postby te_fern » Wed Oct 27, 2021 12:16 pm

High Yield not doing anything, hasn't broken resistance line....
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Re: 10/27/2021 Live Update

Postby te_fern » Wed Oct 27, 2021 12:18 pm

SPX back at the top of this little range it's been in....
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