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Re: 09/27/2017 Live Update

PostPosted: Wed Sep 27, 2017 11:06 am
by fehro
fehro wrote:
fehro wrote:
fehro wrote:shall we try again.. :roll: short SPX near here.. 2507.50 not sure.. resistance, 30m/ 5m


as per usual :roll: mind the morning gap .. SPX


covered.. may bounce here.. SPY testing yHOD, mon HOD.. +$4.50ish


SPY gap fills… QQQ IWM lag.. VIX backs off

Put/Call spikes down to extremes.. Adv/Dec divergence fwiw

Re: 09/27/2017 Live Update

PostPosted: Wed Sep 27, 2017 11:15 am
by Trades with cats
I am no good at head and shoulders but I do see an inverted one with a target of ES 2500.

Re: 09/27/2017 Live Update

PostPosted: Wed Sep 27, 2017 11:19 am
by Trades with cats
DKvQdW1XkAIJmk-.jpg
From John Kemp of Reuters twitter feed

Re: 09/27/2017 Live Update

PostPosted: Wed Sep 27, 2017 11:20 am
by fehro
reload short SPX again 2500.00

Re: 09/27/2017 Live Update

PostPosted: Wed Sep 27, 2017 11:26 am
by Daniel
Trades with cats wrote:So true, yet when big traders using "other time frames" enter or exit we get those wonderful day long trends. :D

Yes, quite so-- all traders observe (should observe) longer timeframe patterns than the one they farm/mine/harvest (choose your metaphor). The longer provides the context for the shorter, guides any discretionary action.

However, intraday is the Land of Noise. Someone sneezes, someone speaks, a rumor pops up in the blogosphere, a twig snaps--and price jumps around. Hours later, meaningless.

In the world of mutual funds, whose managers look at weekly charts, our entire universe here is referred to as The Noise (which they are trying to filter out). Not very complimentary, but there it is.

:|

Re: 09/27/2017 Live Update

PostPosted: Wed Sep 27, 2017 11:37 am
by fehro
fehro wrote:reload short SPX again 2500.00


keep in mind EOQ on Fri, EOM .. may see profit taking starting today - Fri as RUT /RT IWM make new ATH today, fwiw.

Re: 09/27/2017 Live Update

PostPosted: Wed Sep 27, 2017 11:53 am
by Trades with cats
ES 2497 is the clear point of control for now. I am learning market action or auction theory vocabulary. They call this area a fair price because buyers and sellers are in balance. They also call it a zipper on the chart.
ES 12-17 (2 BetterRenko)  9_27_2017B.jpg

Re: 09/27/2017 Live Update

PostPosted: Wed Sep 27, 2017 12:18 pm
by te_fern
Levered smalls bouncing...

Re: 09/27/2017 Live Update

PostPosted: Wed Sep 27, 2017 12:19 pm
by Daniel
Daniel wrote:..one must be watching for breakout leadership (or not) from IWM.

At 145.70 IWM is not far from its HOD (and ATH).. hence, its failure at an intraday double top would likely put a bearish spin on the session. Am still watching closely.

Re: 09/27/2017 Live Update

PostPosted: Wed Sep 27, 2017 12:23 pm
by Cobra

Re: 09/27/2017 Live Update

PostPosted: Wed Sep 27, 2017 12:24 pm
by Cobra
higher low possible so sharp rebound anytime then the low was in. bears need work harder.

PostPosted: Wed Sep 27, 2017 12:27 pm
by MrMiyagi
Cobra wrote:higher low possible so sharp rebound anytime then the low was in. bears need work harder.


Trump to announce major tax overhaul today, I think it starts around 14:00 ET, don't quote me on the time though.

Re: 09/27/2017 Live Update

PostPosted: Wed Sep 27, 2017 12:30 pm
by Al_Dente
new ATHs today
IWM
XLF
IYT
(fehro or daniel probably already noted this)

Re: 09/27/2017 Live Update

PostPosted: Wed Sep 27, 2017 12:36 pm
by Daniel
Al_Dente wrote:new ATHs today: IWM, XLF, IYT
(fehro or daniel probably already noted this)

And, at least 52-week highs in XLI and ITB, plus the Dow Transports (a slitely different blend than IYT, hence addl confirmation).

update: IWM now >146! A breakout failure, here, would be very bearish.

Re: 09/27/2017 Live Update

PostPosted: Wed Sep 27, 2017 12:43 pm
by Trades with cats
Screen-Shot-2017-09-27-at-7.49.22-AM.png
From Stock Board Assets public posts- Late stages of a recovery economic theory says manufacturing and basic materials should be leading. So the macro view gives an edge to intraday tactics if you know which sectors should have a tailwind. But while it sounds good on paper I think Yogi Berra said something about theory and practice! :lol:

Re: 09/27/2017 Live Update

PostPosted: Wed Sep 27, 2017 12:43 pm
by fehro
Weekend Wildcard for the EURO.. mind the DXY USdollar , gold , oil as a result.. http://www.zerohedge.com/news/2017-09-27/catalan-police-ordered-close-and-occupy-polling-stations-stop-vote-going-ahead

Re: 09/27/2017 Live Update

PostPosted: Wed Sep 27, 2017 12:44 pm
by Shaishen
Trades with cats wrote:ES 2497 is the clear point of control for now. I am learning market action or auction theory vocabulary. They call this area a fair price because buyers and sellers are in balance. They also call it a zipper on the chart.



POC at 2497 looking at profile shape would suggest more downside, BUT "toothie" profile above POC suggest revisit the skinny parts 2499 2501 2503

Also tick and VOLD are trying to look more positive (diverging slightly from price chart)
Not putting on a bet though with this info, seems only 50:50
Also the Tax plan thing could confuse the algos in any direction

.

Re: 09/27/2017 Live Update

PostPosted: Wed Sep 27, 2017 12:47 pm
by Al_Dente
scroll down to the bottom for the 9 page tax plan
http://www.zerohedge.com/news/2017-09-2 ... p-tax-plan

Re: 09/27/2017 Live Update

PostPosted: Wed Sep 27, 2017 12:51 pm
by fehro
Trades with cats wrote:
Screen-Shot-2017-09-27-at-7.49.22-AM.png
From Stock Board Assets public posts- Late stages of a recovery economic theory says manufacturing and basic materials should be leading. So the macro view gives an edge to intraday tactics if you know which sectors should have a tailwind. But while it sounds good on paper I think Yogi Berra said something about theory and practice! :lol:


also 4 weeks to the Election lows.. nice 1 yr return.. especially those working on Oct 30 Y/E .. profit taking ahead? :roll: ;) :lol:

Re: 09/27/2017 Live Update

PostPosted: Wed Sep 27, 2017 12:51 pm
by Daniel
Trades with cats wrote:..while it sounds good on paper I think Yogi Berra said something about theory and practice! :lol:

"In theory there’s no difference between theory and practice but in practice there is."