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05/19/2021 Live Update

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Cobra
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05/19/2021 Live Update

Post by Cobra »

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Higher low or not, wait and see.

Big gap down below the yesterday's low so could be a trend day either up or down.
ES60min.png

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Re: 05/19/2021 Live Update

Post by Trades w 2 Cats »

MES 06-21 (950 Tick) _ ES 06-21 (2000 Tick) 2021_05_19 (7_37_51 AM).png
Down trend for sure. Waiting for the "New York Open" bounce, then we will see.
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BullBear52x
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Re: 05/19/2021 Live Update

Post by BullBear52x »

Bounce then down more is my guess. continue down will be a crash!!!!
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BullBear52x
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Re: 05/19/2021 Live Update

Post by BullBear52x »

If we have LL today on daily, tomorrow will be a big huge up if the bull market to survive, if no strong rebound, this time will be different folks.
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JFR
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Re: 05/19/2021 Live Update

Post by JFR »

SPY 15. Down. Down. And down. Pbar at 8:00 o'clock.

Got stuff to do. Will check later.

Screenshot_20210519_062459.jpg
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Re: 05/19/2021 Live Update

Post by Trades w 2 Cats »

Market cycle.jpg
Found on twitter. Nice graphic for those who do not understand cycles.
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Cobra
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Re: 05/19/2021 Live Update

Post by Cobra »


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Mr. BachNut
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Re: 05/19/2021 Live Update

Post by Mr. BachNut »

The NYMO cycle remains down.
However, a low was set on 5/12, and this morning's read is notably above that low in spite of what price is doing.

We opened up a fresh gap above and closed one that was below at the open today.
So, three up and seven down gaps on the table.
Price is retesting the 50MA and the middle keltner.
This should be a neighborhood of support or at least a place to consolidate for a while before advancing a trend.

If price breaks the 5/12 low but NYMO does not, we may have a bullish divergence on our hands, which would be cautionary for bears.
I don't know what will happen.

I am short SPX. I may take some scale profits today. Not sure if I will get risk free on the trade.
I had a little long on the R2K, which stopped out last night.
R2K has been rangebound/trendless and giving me some trouble lately... pain in the butt...
Given the length of time it has spent zoning, it could be a goer when it finally breaks out.
NYMO 051921.jpg
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Mr. BachNut
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Re: 05/19/2021 Live Update

Post by Mr. BachNut »

Mr. BachNut wrote: So, three up and seven down gaps on the table.

I am short SPX. I may take some scale profits today.
While I was writing, another down gap closed, and I scaled out a profit unit. :)
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Re: 05/19/2021 Live Update

Post by Trades w 2 Cats »

MES 06-21 (950 Tick) _ ES 06-21 (2000 Tick) 2021_05_19 (9_44_48 AM).png
Looks like a double bottom. Good area for it and thee 30 minute guideline was met. Also a decent time in the morning as euro zone day traders must be thinking about their exits.
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Cobra
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Re: 05/19/2021 Live Update

Post by Cobra »

This rebound may test EMA20 where will be the bear's last chance to make a downtrend day today.
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Re: 05/19/2021 Live Update

Post by Trades w 2 Cats »

Turn around check list
Double bottom
higher high
working on higher low

Next ingredient is something in Fed minutes.
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Al_Dente
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Re: 05/19/2021 Live Update

Post by Al_Dente »

INTERNALS
sure why not a few options traders are buying a few calls
519VIX.PNG.jpg
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BullBear52x
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Re: 05/19/2021 Live Update

Post by BullBear52x »

watch MA support buy then the bulls are not giving up easy. intraday HH now.
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Re: 05/19/2021 Live Update

Post by BullBear52x »

one more sell first then will see.
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Re: 05/19/2021 Live Update

Post by BullBear52x »

last sell.
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Cobra
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Re: 05/19/2021 Live Update

Post by Cobra »


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Cobra
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Re: 05/19/2021 Live Update

Post by Cobra »

Guess the low was in for today. The best for bears is a range day today.
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Al_Dente
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Re: 05/19/2021 Live Update

Post by Al_Dente »

double bottoms
and descending triangles, which break upward only 53% of the time. [THAT’S RANDOM]
http://thepatternsite.com/dt.html
Volume suggests more RED ahead
30min
519thirty.png.jpg
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Al_Dente
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Re: 05/19/2021 Live Update

Post by Al_Dente »

ES_F bulls are not out of the woods until 4130 is recaptured
[adam mancini]
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