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Re: 09/27/2017 Live Update

PostPosted: Wed Sep 27, 2017 10:18 am
by te_fern
Can the first resistance pivot and the moving average line turn the SPX???

Re: 09/27/2017 Live Update

PostPosted: Wed Sep 27, 2017 10:19 am
by Daniel
Al_Dente wrote:pending home sales just came out... bad

ITB and XHB have reversed sharply off their opening highs. ITB tagged a 52-week high before pulling back about 1/2%.

Re: 09/27/2017 Live Update

PostPosted: Wed Sep 27, 2017 10:20 am
by te_fern
The NYA tick has fallen through its moving average line.....

Re: 09/27/2017 Live Update

PostPosted: Wed Sep 27, 2017 10:22 am
by Daniel
Pockets of strength: EWG and XRT just hit fresh HOD.

Re: 09/27/2017 Live Update

PostPosted: Wed Sep 27, 2017 10:23 am
by te_fern
Levered financials looking strong this morning...

Re: 09/27/2017 Live Update

PostPosted: Wed Sep 27, 2017 10:24 am
by Al_Dente
GS on the tax plan to be released this afternoon
http://www.zerohedge.com/news/2017-09-2 ... n-explains

QUICKIE
big ass table of all the proposals:
http://www.zerohedge.com/sites/default/ ... ax%201.png

Re: 09/27/2017 Live Update

PostPosted: Wed Sep 27, 2017 10:27 am
by Trades with cats
Goldman has released it's analysis of the Tax Plan and it is reposted at Zerohedge. (hat tip to the Pasta Boss) Bottom line there is not going to be anywhere near the proposed cuts. So the run-up by London/Frankfurt was all hope and hype.

It is time for end of the quarter major window dressing to start. No way we get outside the current trading range until that event is in the rear view mirror. :twisted:

Re: 09/27/2017 Live Update

PostPosted: Wed Sep 27, 2017 10:27 am
by brokebybernacke2
was personally expecting new highs soon and some sort of pull back, but see macd about to cross for a breather, maybe high is in as these bullish waves up all about 30 days in length, we are a bit beyond that for this move up, pullback in process?....regardless, awfully stubborn bull, will take a megasurprise to knock it off its feet..still plan to buy good pullbacks stops round 2450sp, wait mode...

Re: 09/27/2017 Live Update

PostPosted: Wed Sep 27, 2017 10:28 am
by Trades with cats
post election.jpg

Something I found on the internet.

Re: 09/27/2017 Live Update

PostPosted: Wed Sep 27, 2017 10:33 am
by Daniel
Daniel wrote:IWM, QQQ holding within their OR-30-- but most sectors are not.. pushing LOD.

IWM, current market leader, is still holding opening gap and OR-30/60... w RVX hitting its LOD. Thus, one must be watching for breakout leadership (or not) from IWM.

Re: 09/27/2017 Live Update

PostPosted: Wed Sep 27, 2017 10:33 am
by te_fern
The bounce was pretty weak, need to hold this double touch of the pivot or we're going lower....

Re: 09/27/2017 Live Update

PostPosted: Wed Sep 27, 2017 10:36 am
by te_fern
There we go... looking for lower support..

Re: 09/27/2017 Live Update

PostPosted: Wed Sep 27, 2017 10:38 am
by Al_Dente
Daniel wrote:
Daniel wrote:IWM, QQQ holding within their OR-30-- but most sectors are not.. pushing LOD.

IWM, current market leader, is still holding opening gap and OR-30/60... w RVX hitting its LOD. Thus, one must be watching for breakout leadership (or not) from IWM.

boss how about oil as market leader :?:
USO or juiced is UCO

Re: 09/27/2017 Live Update

PostPosted: Wed Sep 27, 2017 10:50 am
by te_fern
Both ticks have dropped below their moving average...

Re: 09/27/2017 Live Update

PostPosted: Wed Sep 27, 2017 10:53 am
by Daniel
Al_Dente wrote:boss how about oil as market leader--USO (or juiced is UCO)


My timeframe here is that of this Board-- a flash in the pan. Short term breakouts, top of range, multiday RS.

"Leadership" could be relative strength over the past few days-- as you often post in those excellent trailing sector-RS graphics. Or it might simply be hitting fresh monthly or yearly highs the past few days, when not all sectors are doing so.

IWM has been a straight blue arrow from bottom left to top right the past couple weeks. Oil has not. The transports have. Foreign markets--not recently.

For daytrade/short swing trade, all macro perspectives are as useless as all macro news.

:)

Re: 09/27/2017 Live Update

PostPosted: Wed Sep 27, 2017 10:56 am
by Trades with cats
So true, yet when big traders using "other time frames" enter or exit we get those wonderful day long trends. :D

Re: 09/27/2017 Live Update

PostPosted: Wed Sep 27, 2017 10:56 am
by Cobra
the pullback is larger than that of yesterday (tinted area) so maybe has legs.

Re: 09/27/2017 Live Update

PostPosted: Wed Sep 27, 2017 11:01 am
by te_fern
Speaking of oil, 3 minutes futures shows a big drop in the last few minutes. My guess is a report or someone said something! :)

Re: 09/27/2017 Live Update

PostPosted: Wed Sep 27, 2017 11:01 am
by Al_Dente
Daniel wrote:
Al_Dente wrote:boss how about oil as market leader--USO (or juiced is UCO)

My timeframe here is that of this Board-- a flash in the pan. Short term breakouts, top of range, multiday RS.
"Leadership" could be relative strength over the past few days-- as you often post in those excellent trailing sector-RS graphics. Or it might simply be hitting fresh monthly or yearly highs the past few days, when not all sectors are doing so.
IWM has been a straight blue arrow from bottom left to top right the past couple weeks. Oil has not. The transports have. Foreign markets--not recently.
For daytrade/short swing trade, all macro perspectives are as useless as all macro news.
:)

thanks boss :D
here's 10 day performance on my narrow view
all are juiced (INDU is invisible)
927perf 10.png.png

Re: 09/27/2017 Live Update

PostPosted: Wed Sep 27, 2017 11:03 am
by Trades with cats
Monday we had a 5 point excursion below the ADR 20 low. Today the ADR 20 day daily low is ES 2495.25 so we hit 2.25 below.

St Louis Fed Chair Jim Bullard could lay an egg at 1:30 EST or the President really really puts his foot in it in Indiana. Otherwise I am waiting for the double bottom with this drop being the higher low (compared to yesterday) book ending the higher high this morning. All good moving into end of quarter.