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04/21/2021 Live Update

04/21/2021 Live Update

Postby Cobra » Wed Apr 21, 2021 8:32 am

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For now it looks like a bear flag so bias is a little little bit down.

Flat open, likely just a range day.
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Re: 04/21/2021 Live Update

Postby Al_Dente » Wed Apr 21, 2021 9:48 am

note NFLX
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Re: 04/21/2021 Live Update

Postby Cobra » Wed Apr 21, 2021 10:03 am


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Re: 04/21/2021 Live Update

Postby Mr. BachNut » Wed Apr 21, 2021 10:20 am

The NYMO cycle is confirmed down with two closes below the zero line.
The cycle high was set April 6th giving us a benchmark price of SPX 4086.23.
The model gives odds of price being below the benchmark at the cycle low whenever that occurs.
That said, this bull has left us with a stranded benchmark from November at 3642.31. :roll:
All stranded benchmarks are likely to get closed eventually, but it will be at a time of Mr. Market's choosing. :lol:

At present, we have two open gaps above and seven below to serve as potential targets.
Price has come back inside the upper keltner band.
Bulls need to get price back up on top of the upper keltner in the next few sessions, or bears get odds for a trip to the middle keltner (or more).
As usual, I don't know what will happen.
I kind of feel like Mr. Market wants to get everyone off-sides and mess with everyone's head for awhile before the next trendy move, but let's see what happens.

I remain long a runner position in SPX. I am flat R2K.
I had a R2K long last post that was closed down some.
Short setups are incubating in both indexes.

NYMO 042121.jpg
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Re: 04/21/2021 Live Update

Postby Cobra » Wed Apr 21, 2021 10:25 am

The breakout could mean it's an uptrend day.
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Re: 04/21/2021 Live Update

Postby JFR » Wed Apr 21, 2021 10:49 am

ES daily. Sliding downhill. Forming a base.


2021-04-21_07-48-29.png
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Re: 04/21/2021 Live Update

Postby JFR » Wed Apr 21, 2021 11:01 am

Dow 30. More green than red.


2021-04-21_08-00-27.png
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Re: 04/21/2021 Live Update

Postby Al_Dente » Wed Apr 21, 2021 11:05 am

John Mauldin: “All it takes to create a bull market is for buyers to show up. All it takes to create a bear market is for the buyers to disappear.
Just reading the zeitgeist, I don’t think they’re going to disappear for a while.
"I am not bearish. I am 100% invested and as aggressive as I have ever been in my life. Just not in index funds.

MUST SEE: the first two tables:
https://www.zerohedge.com/markets/marke ... to+zero%29
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Re: 04/21/2021 Live Update

Postby Al_Dente » Wed Apr 21, 2021 11:10 am

BULLISH:
The Architecture Billings Index is a leading indicator primarily for new Commercial Real Estate because FIRST you hire and bill an architect, then you get your building permits, then etc.
https://www.calculatedriskblog.com/2021 ... lated+Risk)
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Re: 04/21/2021 Live Update

Postby Al_Dente » Wed Apr 21, 2021 11:37 am

Internal Server Error
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Postby MrMiyagi » Wed Apr 21, 2021 11:47 am

Al_Dente wrote:BULLISH:
The Architecture Billings Index is a leading indicator primarily for new Commercial Real Estate because FIRST you hire and bill an architect, then you get your building permits, then etc.


abi2.PNG
value of design


abi1.PNG
billings
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Re: 04/21/2021 Live Update

Postby JFR » Wed Apr 21, 2021 11:55 am

Some stocks hitting 3 month highs. Back later ...


2021-04-21_08-54-32.png
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Re: 04/21/2021 Live Update

Postby Al_Dente » Wed Apr 21, 2021 11:56 am

TA technical analysis:
Double top target (red boxes). Check.
Bounce at double bottom (lime arrows). Check.
Break out above downward sloping channel. Check.
That means a descending triangle with a measured move target (lime box) ? Please feel free to show me a better possibility here…. It can always break down, but odds slightly favor up ...
http://thepatternsite.com/dt.html
421des tri.png.jpg
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Re: 04/21/2021 Live Update

Postby Al_Dente » Wed Apr 21, 2021 12:07 pm

at the moment:
advancers are 4x decliners
and up volume is 5x down volume
421adv.png.jpg
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Re: 04/21/2021 Live Update

Postby Al_Dente » Wed Apr 21, 2021 12:10 pm

[add]
haven’t seen that much AD strength since 26 March and 1 April
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Re: 04/21/2021 Live Update

Postby Cobra » Wed Apr 21, 2021 12:17 pm


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Re: 04/21/2021 Live Update

Postby Cobra » Wed Apr 21, 2021 12:51 pm

First touch of EMA20 in 2+ hours, should be a buy but sometimes it's just good for a scalp.
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Re: 04/21/2021 Live Update

Postby Cobra » Wed Apr 21, 2021 1:34 pm

C&H, bias is up.
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Re: 04/21/2021 Live Update

Postby Al_Dente » Wed Apr 21, 2021 2:24 pm

BULLISH ENGULFING on the daily ...
[depends on the price at the close]
http://thepatternsite.com/BullEngulfing.html
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Re: 04/21/2021 Live Update

Postby Al_Dente » Wed Apr 21, 2021 2:46 pm

Miners are on track to reach their Inverse H&S target, but need to break above this last resistance (red arrows)
Daily
421nugt.png.jpg
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