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03/31/2021 Live Update

Posted: Wed Mar 31, 2021 8:35 am
by Cobra
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Seems we have a price channel here, so the current move should be toward the channel upper boundary?

Gap up within the yesterday's range so likely it's just a range day.

Re: 03/31/2021 Live Update

Posted: Wed Mar 31, 2021 8:54 am
by JFR
ES daily. Forming a base. At the top.

2021-03-31_05-53-06.png

Re: 03/31/2021 Live Update

Posted: Wed Mar 31, 2021 9:29 am
by JFR
SPY 15, extended hours. Quiet overnight.

2021-03-31_06-28-51.png

Re: 03/31/2021 Live Update

Posted: Wed Mar 31, 2021 9:33 am
by JFR
SPY 1. Moving up out of the gate. Good scalping, but it won't continue.

2021-03-31_06-32-32.png

Re: 03/31/2021 Live Update

Posted: Wed Mar 31, 2021 9:34 am
by BullBear52x
Buy day today, wait for dip entry. market open too strong.

Re: 03/31/2021 Live Update

Posted: Wed Mar 31, 2021 9:35 am
by JFR
SPY 1. Down she goes. It might be a lively day.

2021-03-31_06-34-30.png

Re: 03/31/2021 Live Update

Posted: Wed Mar 31, 2021 9:37 am
by JFR
SPY 1. The bulls are strong. News flash: "The rich have money. And the poor have RobinHood."

2021-03-31_06-36-47.png

Re: 03/31/2021 Live Update

Posted: Wed Mar 31, 2021 9:50 am
by Trades w 2 Cats
MES 06-21 (950 Tick) _ ES 06-21 (2000 Tick) 2021_03_31 (8_45_29 AM).png
I am looking at a three up wave pattern. If I squint hard enough I can see a completed Elliot wave 5 wave move up, so we are "supposed" to have an ABC up here while the market thinks about it's next move.

That blue trend line is the bottom of a channel that formed yesterday on the afternoon advance. Turned into the top line during the night.

Re: 03/31/2021 Live Update

Posted: Wed Mar 31, 2021 10:03 am
by JFR
SPY 1. So WTF, bulls. What was the little run up about? Just having fun? I scalped once too often on the way up. Ya know, ya get excited. Gawd.

2021-03-31_07-00-31.png

Re: 03/31/2021 Live Update

Posted: Wed Mar 31, 2021 10:04 am
by Trades w 2 Cats
Historical footnote. My personal sanity has been returned. The last couple of years I thought I was loosing it because my views of the market were not working. Now, we find out that it was just normal, a market Jesse Livermore would have understood. I am so relived to learn that the prime brokers were simply funding a delusional billionaire (SoftBank options manipulation) and , at least so far, two huge con man frauds (Greensill and Archegos Capital).

I shed no tears for Credit Susie and the rest of the group who they say have lost 10 billion by enabling a convicted swindler to manipulate markets while hiding from regulators. I would remind you of President Andrew Jacksons speech to congress when he dissolved the Second National Bank of the US.

An as usual thoughtful piece by Ben Hunt
https://www.epsilontheory.com/a-tiger-c ... 7U.twitter

Re: 03/31/2021 Live Update

Posted: Wed Mar 31, 2021 10:07 am
by Cobra

Re: 03/31/2021 Live Update

Posted: Wed Mar 31, 2021 10:17 am
by JFR
Dow down. Russell up then holding pattern. QQQ up. SPY up then holding.

2021-03-31_07-16-15.png

Re: 03/31/2021 Live Update

Posted: Wed Mar 31, 2021 10:23 am
by ccash04
Not sure I understand the rush to pile into Nasdaq names.. Overvalued is the new undervalued?!

Re: 03/31/2021 Live Update

Posted: Wed Mar 31, 2021 10:25 am
by JFR
ES has settled into a tight, little range. Taking a break ... Might eat some chocolate. Ha ha

2021-03-31_07-23-49.png

Re: 03/31/2021 Live Update

Posted: Wed Mar 31, 2021 10:36 am
by te_fern
JFR wrote:ES has settled into a tight, little range. Taking a break ... Might eat some chocolate. Ha ha

2021-03-31_07-23-49.png
Don't go crazy on us JFR!! LOL! :D

Re: 03/31/2021 Live Update

Posted: Wed Mar 31, 2021 10:41 am
by Al_Dente
rare squeeze in TQQQ
5min
331squeeze q.png.jpg

Re: 03/31/2021 Live Update

Posted: Wed Mar 31, 2021 10:45 am
by Cobra
The breakout could mean it's an uptrend day, bears beware.

Re: 03/31/2021 Live Update

Posted: Wed Mar 31, 2021 10:57 am
by Al_Dente
331key.png.jpg

Re: 03/31/2021 Live Update

Posted: Wed Mar 31, 2021 11:06 am
by Al_Dente
FWIW
All Tech sectors combined (Information tech, Communication Services, and maybe Consumer Discretionary as it’s tech heavy) add up to 49% of SPY

Re: 03/31/2021 Live Update

Posted: Wed Mar 31, 2021 11:09 am
by JFR
...