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07/19/2021 Live Update

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Cobra
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07/19/2021 Live Update

Post by Cobra »

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Should be a rebound upon open then we'll see whether it's a classic breakdown then sharp reversal up.

Gap down below the Friday's low so likely a trend day either up or down.
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JFR
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Re: 07/19/2021 Live Update

Post by JFR »

ES daily. Another strong bear bar, down beneath the EMA 20. That'll get the attention of both the bulls and the bears. "Fish are jumpin'." I was happy to make 3 scalps myself.

2021-07-19_05-40-26.png
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Cobra
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Re: 07/19/2021 Live Update

Post by Cobra »

JFR wrote:ES daily. Another strong bear bar, down beneath the EMA 20. That'll get the attention of both the bulls and the bears. "Fish are jumpin'." I was happy to make 3 scalps myself.

2021-07-19_05-40-26.png
Very rare big gap down nowadays, let's see how today unfolds. Usually is a sharp reversal upon open but if today is different then probably the long overdue pullback has started.

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JFR
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Re: 07/19/2021 Live Update

Post by JFR »

SPY 15. Trying to find support.

2021-07-19_05-50-20.png
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JFR
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Re: 07/19/2021 Live Update

Post by JFR »

Cobra wrote:
JFR wrote:ES daily. Another strong bear bar, down beneath the EMA 20. That'll get the attention of both the bulls and the bears. "Fish are jumpin'." I was happy to make 3 scalps myself.

2021-07-19_05-40-26.png
Very rare big gap down nowadays, let's see how today unfolds. Usually is a sharp reversal upon open but if today is different then probably the long overdue pullback has started.
Yup. It has our attention. I will be a part time trader today.
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BullBear52x
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Re: 07/19/2021 Live Update

Post by BullBear52x »

Down Friday follow by down Monday not a good sign, bearish swing setup got paid today. gap and flat all day is in the card, honey hole for the buy side will be tomorrow, today confirming fearful market is strong. same playbook, sell until it fails to continue.
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JFR
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Re: 07/19/2021 Live Update

Post by JFR »

Crazy action on the ES. 1 minute. I will have to miss some of this action.
Last edited by JFR on Mon Jul 19, 2021 5:20 pm, edited 1 time in total.
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JFR
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Re: 07/19/2021 Live Update

Post by JFR »

SPY 5. Poking its toe down beneath support. Volatility is our name. Back later ...

2021-07-19_06-36-31.png
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Al_Dente
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Re: 07/19/2021 Live Update

Post by Al_Dente »

VIX is up +22% to $22.67
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BullBear52x
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Re: 07/19/2021 Live Update

Post by BullBear52x »

Daily setup, entering buy the dip zone, Lower BB is where the Buy honey hole is at. almost there, tomorrow should be there if not today.
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Cobra
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Re: 07/19/2021 Live Update

Post by Cobra »


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BullBear52x
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Re: 07/19/2021 Live Update

Post by BullBear52x »

lots of resistances, until the next sell fails will bulls got any chance today.
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Al_Dente
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Re: 07/19/2021 Live Update

Post by Al_Dente »

APPLE JUICE.png.jpg
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Mr. BachNut
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Re: 07/19/2021 Live Update

Post by Mr. BachNut »

The NYMO cycle is down with NYMO tagging the oversold zone this morning. :shock:
Usually, this sets the stage for a durable low. However, today's price move looks more like the start of something rather than the end.
Perhaps a bounce on deck rather than a durable low. I don't know.
Historically, NYMO oversold readings occur with price braking the lower keltner band, or more rarely just the middle.
As I write, we have not yet hit the middle band...
Even February 2020, which had a NYMO oversold at the start of the move, had already broken the lower Keltner.
So, there is nothing anecdotal to gauge this particular action.

The handful of big stocks that have been pushing the index may be salient here.
Let's see whether or not the generals fall.

Price has closed three gaps this morning while opening a huge one above.
Plenty of gaps below remain as potential targets.
We have broken the early July low and are back in the June trading range.
A break of the June low would suggest a move to visit those deeper targets and perhaps test the 200 MA.

I am short SPX and R2K.
The SPX position went on last night after futures opened. Two profit units have been scaled.
The R2K position has been on for a while. One profit unit has been scaled and one has a running profit stop.
NYMO 071921.jpg
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Cobra
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Re: 07/19/2021 Live Update

Post by Cobra »

Breakdown to a new day low with good looking bear bar then it's a downtrend day. If the current rebound goes to EMA20 then chances are at the best bears can only expect a range day.
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Al_Dente
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Re: 07/19/2021 Live Update

Post by Al_Dente »

Today’s action took the fib retracement (from the mid june low to last week’s high) down below 61%
and we have retraced about 50% of the rise drawn from the mid may low
Daily
719fib.png.jpg
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Mr. BachNut
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Re: 07/19/2021 Live Update

Post by Mr. BachNut »

A little BachNut bear porn for viewing pleasure. 8-)

When weekly prices are making higher highs with a negative RSI divergence, it is not uncommon for the two year moving average to get a test.
SPX has been climbing with a declining RSI since early May.
If Mr. Market decides to visit the two year MA, SPX could see the mid-3000s.

This is not a prediction! Just a possibility to open one's mind.
3500 give or take would be a big move from the highs and hard to see happening without some bad headlines.
But, as you all have heard before, I have no idea what will happen.
104 MA.jpg
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Al_Dente
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Re: 07/19/2021 Live Update

Post by Al_Dente »

they are buying treasurys as they sell sotcks
Daily
719bonds.png.jpg
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Al_Dente
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Re: 07/19/2021 Live Update

Post by Al_Dente »

Cleanest dirty shirt:
NDX tiny candle compared to INDU and SPX big reds
Daily, 20/50
Note that all printed neg diverg, RSI-5, at last week's high (except IWM which diverged when it topped last month)
719qqq.png.jpg
Last edited by Al_Dente on Mon Jul 19, 2021 11:23 am, edited 1 time in total.
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Al_Dente
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Re: 07/19/2021 Live Update

Post by Al_Dente »

FOUR HORSEMEN update, daily
XLF and XLI testing last month’s low
719 horse.png.jpg
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
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