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06/03/2021 Live Update

06/03/2021 Live Update

Postby Cobra » Thu Jun 03, 2021 8:35 am

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Probably another breakdown then sharp reversal up as most initial breakout/breakdown simple are false.

Gap down below yesterday's low so could be a trend day, either up or down.

ES60min.png

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Re: 06/03/2021 Live Update

Postby JFR » Thu Jun 03, 2021 9:03 am

SPY 15. Down from yesterday's close. Profit takers and short sellers are active.


2021-06-03_06-01-10.png
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Re: 06/03/2021 Live Update

Postby JFR » Thu Jun 03, 2021 9:05 am

ES daily. Breaking down from the tight range, to the EMA 20. Is that it?


2021-06-03_06-03-58.png
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Re: 06/03/2021 Live Update

Postby 1der » Thu Jun 03, 2021 9:32 am

Forest of PBars on the 1 min SPY this morning
E1C99E01-8084-467F-AAC3-0B9318BA3CCE.png
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Re: 06/03/2021 Live Update

Postby Cobra » Thu Jun 03, 2021 10:00 am


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Re: 06/03/2021 Live Update

Postby Mr. BachNut » Thu Jun 03, 2021 10:21 am

So, NYMO tagged the zero line at the open this morning.
Up a bit now.
So, either this is a corrective move for the up cycle to continue, or the cycle high is in and a downcycle is commencing.
Time will tell which is on the menu.

A little collection of down gaps has closed and an up gap has opened today.
I guess bears would like to sell an up gap close and have price fail.
I guess bulls would like to draw in shorts to squeeze to new highs.
Let's see what happens...

I am flat SPX and long R2K.
My SPX runner position was breakeven stopped this morning with two scaled out profit units in the bank.
My R2K position is a runner with a breakeven stop and two scaled out profit units in the bank.

NYMO 060321.jpg
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Re: 06/03/2021 Live Update

Postby JFR » Thu Jun 03, 2021 10:47 am

GM. This old dog is having a good run.


Screenshot_20210603_074723.jpg
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Re: 06/03/2021 Live Update

Postby Al_Dente » Thu Jun 03, 2021 10:49 am

Mr. BachNut wrote:So, NYMO tagged the zero line at the open this morning.
Up a bit now......

Thanks Mr. Bach, I always appreciate your posts :D
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Re: 06/03/2021 Live Update

Postby Cobra » Thu Jun 03, 2021 10:53 am

Higher low and break the EMA20, so the low might be in for today. The best bears can hope is a range day.
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Re: 06/03/2021 Live Update

Postby Al_Dente » Thu Jun 03, 2021 11:16 am

XLF another new high ALMOST
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Re: 06/03/2021 Live Update

Postby Al_Dente » Thu Jun 03, 2021 11:19 am

KEY SECTORS, 10 days, 30min
63key 10.png.jpg
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Re: 06/03/2021 Live Update

Postby Trades w 2 Cats » Thu Jun 03, 2021 11:25 am

It was the proposed change in corporate taxes reported by Washington Post that launched the big up move. So will the move stick or reverse?
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Re: 06/03/2021 Live Update

Postby JFR » Thu Jun 03, 2021 11:26 am

SPY 5. Bears got a few punches in. But the bulls as always fighting back.


2021-06-03_08-24-58.png
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Re: 06/03/2021 Live Update

Postby Al_Dente » Thu Jun 03, 2021 11:32 am

Trades w 2 Cats wrote:It was the proposed change in corporate taxes reported by Washington Post that launched the big up move. So will the move stick or reverse?

Boss can u elaborate, or link ?
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Re: 06/03/2021 Live Update

Postby Al_Dente » Thu Jun 03, 2021 11:33 am

spy filled the morning gap, qqq did not
who's in charge here ?
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Re: 06/03/2021 Live Update

Postby Al_Dente » Thu Jun 03, 2021 11:37 am

Bottom row is the Four Horsemen
Daily, 20ema, RSI-5
63quick.png.jpg
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Re: 06/03/2021 Live Update

Postby Trades w 2 Cats » Thu Jun 03, 2021 11:40 am

Biden dropping increase in rates, instead looking for a 15% minimum tax. Story broke by Washington Post. I found recap at the evil site.

So it was, I think, unexpected news. I also think changing strategy was expected as we all knew the prior plan was not going to pass. So does this count as regular news reaction to be followed by 100 % retrace or is it a sea change. After all if the Republicans agree then big spending next year.
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Re: 06/03/2021 Live Update

Postby JFR » Thu Jun 03, 2021 11:43 am

Alternatives. All fall down. Except, SPY Value even, and UUP up.


2021-06-03_08-40-18.png
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Re: 06/03/2021 Live Update

Postby JFR » Thu Jun 03, 2021 11:48 am

DIA even. IWM down. QQQ down. SPY down a bit.


2021-06-03_08-47-18.png
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Re: 06/03/2021 Live Update

Postby Al_Dente » Thu Jun 03, 2021 11:51 am

thanks boss :D
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