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05/05/2021 Live Update

05/05/2021 Live Update

Postby Cobra » Wed May 05, 2021 8:32 am

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Lots of upper shadow so some selling pressure here therefore might be a pullback at open then we'll see, generally the rebound shall have legs.

Gap up above yesterday's high so could be a trend day either up or down.
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Re: 05/05/2021 Live Update

Postby BullBear52x » Wed May 05, 2021 9:25 am

damage already done, bears got one sell coupon on 5 min. swing. sell day for me but with the V-Shape, got to be careful.
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Re: 05/05/2021 Live Update

Postby JFR » Wed May 05, 2021 9:27 am

ES daily. Inside bar. Up off the EMA 20.


2021-05-05_06-24-41.png
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Re: 05/05/2021 Live Update

Postby BullBear52x » Wed May 05, 2021 9:27 am

Bulls got a lot of games but they need to bring out an "A" game today. :twisted:
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Re: 05/05/2021 Live Update

Postby JFR » Wed May 05, 2021 9:30 am

SPY 15. Moving up in ranges. Pbar at 800 am once again.


2021-05-05_06-29-39.png
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Re: 05/05/2021 Live Update

Postby BullBear52x » Wed May 05, 2021 9:42 am

ES MA support, bears need to push hard or dead meat again.
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Re: 05/05/2021 Live Update

Postby JFR » Wed May 05, 2021 9:42 am

IWM 5. Falling hard.


2021-05-05_06-41-47.png
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Re: 05/05/2021 Live Update

Postby BullBear52x » Wed May 05, 2021 9:55 am

Lot of data generated today, enough to use data analysis technique. gap fill is the mean = u . :lol:
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Re: 05/05/2021 Live Update

Postby Trades w 2 Cats » Wed May 05, 2021 9:56 am

MES 06-21 (950 Tick) _ ES 06-21 (2000 Tick) 2021_05_05 (8_53_03 AM).png


Looks like we are morphing into a really boring range. I sure hope not as I have 10 days of road grime to wash off of my formerly shiny aluminum trailer if I can't justify trading today. :(
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Re: 05/05/2021 Live Update

Postby Cobra » Wed May 05, 2021 10:02 am


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Re: 05/05/2021 Live Update

Postby JFR » Wed May 05, 2021 10:02 am

Dow 30. About even on the greens and the reds. CVX leading. BA trailing.


2021-05-05_07-01-27.png
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Re: 05/05/2021 Live Update

Postby Cobra » Wed May 05, 2021 10:03 am

It's morning hourly filled black bar
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Re: 05/05/2021 Live Update

Postby JFR » Wed May 05, 2021 10:09 am

CMA. KEY. STLD. Nice play on these three.


2021-05-05_07-04-18.png
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Re: 05/05/2021 Live Update

Postby JFR » Wed May 05, 2021 10:13 am

SPY 5 falls hard to the EMA 20 and its previous close. Finding some support. Back a bit later ...


2021-05-05_07-11-37.png
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Re: 05/05/2021 Live Update

Postby BullBear52x » Wed May 05, 2021 10:17 am

AD line is now flipped to negative. bears are serious today.
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Re: 05/05/2021 Live Update

Postby BullBear52x » Wed May 05, 2021 10:20 am

Up V-POC is 4190
Dn V-Poc is 4142

Down target is more likely atm.
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Re: 05/05/2021 Live Update

Postby Al_Dente » Wed May 05, 2021 10:22 am

Sell in May?
SELL MAY.PNG.jpg
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Re: 05/05/2021 Live Update

Postby Mr. BachNut » Wed May 05, 2021 10:24 am

Not much to say today.

NYMO cycle is up but may confirm down today.
I think a better characterization may be that it is coiling around the zero line.
Hence, the flattish chop we are seeing in the index.

We have two gap target prospects above and a stack below.
Bulls have fallen back inside the upper keltner again, which turns one to eye the middle keltner as a potential destination.
Bottom line is consolidation without good tell at the moment.
Perhaps we get more clarity by end of week.

I remain long my SPX runner position, but criteria to jam a profit stop are falling into place.
I am flat R2K after another small loser on the long side. :roll:

NYMO 050521.jpg
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Re: 05/05/2021 Live Update

Postby Trades w 2 Cats » Wed May 05, 2021 10:26 am

If I understood Elliot Wave that looked like a 1 down followed by and ABC for 2 up (68% retracement almost to the tick). Then the big 3 for the move that put bears in charge because it was about 20 points and with 11 something point moves being 2 standard deviations these days that was clearly an impulse.

So in theory a complex wave 4 followed by another 10 point drop for 5 down then spend the afternoon doing the ABC move higher.

If I am right then I still have to wash the trailer today after lunch. :(
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Re: 05/05/2021 Live Update

Postby te_fern » Wed May 05, 2021 10:33 am

Missed it, but looks like energy is having a good day....
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