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05/24/2021 Live Update

05/24/2021 Live Update

Postby Cobra » Mon May 24, 2021 9:10 am

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It's the 4th test of the line, unlikely will hold so breakout is likely.

Big gap up so could be a trend day either up or down.
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Re: 05/24/2021 Live Update

Postby JFR » Mon May 24, 2021 9:13 am

SPY 15. Up a bit. A lot of chop Friday. All calm so far today. Ready for action.


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Re: 05/24/2021 Live Update

Postby 1der » Mon May 24, 2021 9:29 am

Pbar from this morning (high of the bar 417.04/ low 416.40) and the one from last Friday afternoon (low is 414.94) fwiw
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Re: 05/24/2021 Live Update

Postby JFR » Mon May 24, 2021 9:32 am

Dow 30. Whole lotta green. MSFT leading. Frequent leader/laggard BA at the bottom.


2021-05-24_06-31-43.png
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Re: 05/24/2021 Live Update

Postby JFR » Mon May 24, 2021 9:45 am

ES daily. Up off the EMA 20. No quit in the bulls.


2021-05-24_06-44-56.png
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Re: 05/24/2021 Live Update

Postby Cobra » Mon May 24, 2021 10:01 am


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Re: 05/24/2021 Live Update

Postby JFR » Mon May 24, 2021 10:12 am

SPY 5. Hitting the brakes, for the time being.


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Re: 05/24/2021 Live Update

Postby Trades w 2 Cats » Mon May 24, 2021 10:18 am

Do or die time for bulls as we test 91 area.
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Re: 05/24/2021 Live Update

Postby Cobra » Mon May 24, 2021 10:37 am

Keeps charging up with good looking bull bar then it's an uptrend day. At least now should be safe to say this bull shall have legs.
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Re: 05/24/2021 Live Update

Postby Trades w 2 Cats » Mon May 24, 2021 10:59 am

2nd test at 97.
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Re: 05/24/2021 Live Update

Postby Cobra » Mon May 24, 2021 11:01 am

Uptrend day not confirmed but breakout from here in the next couple of bars with good looking bull bar then it's an uptrend day. I see consolidation here so a breakout should be a little more likely.
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Re: 05/24/2021 Live Update

Postby Al_Dente » Mon May 24, 2021 11:02 am

HAPPY 80th BIRTHDAY TO BOB DYLAN !!
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Re: 05/24/2021 Live Update

Postby Cobra » Mon May 24, 2021 12:00 pm


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Re: 05/24/2021 Live Update

Postby Cobra » Mon May 24, 2021 12:01 pm

The pullback should be bought.
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Re: 05/24/2021 Live Update

Postby JFR » Mon May 24, 2021 12:53 pm

SPY 5. Riding the EMA 20. ''Ridin' along in my automobile ... ''


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Re: 05/24/2021 Live Update

Postby Al_Dente » Mon May 24, 2021 2:23 pm

Tuesday, May 25th
9:00 AM: S&P/Case-Shiller House Price Index for March.
10:00 AM: New Home Sales for April from the Census Bureau.
10:00 AM: Richmond Fed Survey of Manufacturing Activity for May.
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Re: 05/24/2021 Live Update

Postby Al_Dente » Mon May 24, 2021 2:36 pm

“Based on this chart pullbacks only come when the Fed temporarily stops expanding or slightly reduces the balance sheet. New highs follow once the Fed's balance sheet makes new highs. $SPX is in essence a Fed balance sheet tracker.
[Northman Trader]

FED northman 524.png
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Re: 05/24/2021 Live Update

Postby Cobra » Mon May 24, 2021 2:37 pm

Bulls should have earned another "the pull should be bought" status, aka this bull shall have legs.
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Re: 05/24/2021 Live Update

Postby JFR » Mon May 24, 2021 2:59 pm

From autochartist.

Channel Up for the S&P.

Have a good afternoon.


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Re: 05/24/2021 Live Update

Postby Cobra » Mon May 24, 2021 3:35 pm


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