02/24/2020 Live Update

[Trades with cats]

SPY, IWM right AT daily VWAP now. QQQ is still a bit above. VWAP bears watching on an active day like today.

..quick update: all three now clearly below.

Usually I totally agree on VWAP, but right now with Tim Apple going down etc. I am wondering if VWAP has lost it's ability without a lot of buybacks. Just sort of thinking about rain and wet sidewalks from a statistical point of view.

[BullBear52x]

last chance for bulls to make a HL today. buy

[Cobra]

Still believe it waits for the EMA20 to catch up. So far looks like a range day.

[JFR]

ES 5. That one was a tough exit. I got in late. Down beneath the pivot.

[Trades with cats]

Any bets on whom the White House sends out to calm the markets today? Certainly not Kudlow, Doctor Evil junior was already being a bad guy beating up the Chinese so I am thinking Wilbur.(in my best imitation of Mr Ed the talking horse)

[BullBear52x]

as bad as today, TRIN is bullish.

[Daniel]

My best guess is since the European time zone traders had the big panic attack the bulls need to wait for them to go home in another hour.

Corona virus in Italy scared the pants offa them. Italy is smack in the Eurozone.
On a day like today VWAP is valuable simply because it is widely watched.

Plague and pandemic are like war. No full analysis is possible, the variables outweigh the constants. Managers are guessing, and watching each other.

[Daniel]

as bad as today, TRIN is bullish.

Yes, I've noticed that from the start--any idea what that means, BB52?

[JFR]

ES 5. Finding some support. Back up to the EMA 20.

[BullBear52x]

as bad as today, TRIN is bullish.

Yes, I've noticed that from the start--any idea what that means, BB52?

TRIN is arms index, more call option or short VIX. we are outside of lower band it makes sense to buy to get back inside the band.

[Daniel]

Bellwether AAPL still holding at $300/share.

[Trades with cats]

Tin foil hat crowd would claim this relatively small pullback will re-set the markets for the next leg up as well as fully funding the pre-election cash needs of the Treasury Department while clearing out the broker dealer's inventory. Also somebody has to mop up all the US treasuries the PBoC etc are selling to raise cash to keep the lights on until the virus recedes.

Fund managers have last year as a play book.

[QED]

Bullish above $3260
Bearish below $3230
All else = Chop
.

[Al_Dente]

few hours ago
U.S. Treasury Secretary Steven Mnuchin told Reuters he does not expect the coronavirus outbreak to have a material impact on the Phase 1 U.S.-China trade deal, although that could change as more data becomes available in coming weeks

[Daniel]

......all the US treasuries the PBoC etc are selling to raise cash to keep the lights on until the virus recedes.

..IS the Chinese Central Bank selling treasuries? Is this reported somewhere? And who is the "etc" also selling treasuries? It seems like the recent price spurt in TLT indicates few sources of supply are rushing forth to meet the bids.

Forex sites track this sort of stuff, so I'm asking logical questions but I don't pay much attn to these forex sites-- unless someone like Al D tells me to.

Central bank activity is closely monitored in the world of forex.

[BullBear52x]

First rejection at 20ma on 5 min. where /ES and SPX met on MA. form here, bulls need to move above or bears are in full control atm.

[BullBear52x]

Cash SPX Fib, bulls need to trade above 61.8% or today will be a long day.

[QED]

.
$750,000.00 in ~48 hours ...

https://twitter.com/coolbizone/status/1 ... 6190781440
.

[BullBear52x]

This is what I go with as far as chart pattern, buying until it breaks down then I will call it a day.

[Daniel]

Really zig-zaggy (is that a word?) kind of first 90 minutes. But as QED said, unless we break out of the range he posted, it's just going to be ziggy chop.

..Watching old faithfuls NazAdvancers and $RVX for possible advance clues, as well as the Aussie dollar (instantly reflects China news). And I'm posting sentries at breakout points.

But at least we are beginning to establish price discovery.