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05/23/2024 Live Update

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Cobra
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05/23/2024 Live Update

Post by Cobra »

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Breakout of the consolidation range then kiss the breakout point goodbye then resume up, so the breakout likely is for real.

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JFR
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Re: 05/23/2024 Live Update

Post by JFR »

ES daily.

Poking its nose above 5333.

Uncertain breakout at this time. A test.

But the bulls are trying some heavy lifting.

Way above the EMA 20 and the trendline.

A handful of dojis in a row --> indecision.

2024-05-23_06-31-23.png
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JFR
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Re: 05/23/2024 Live Update

Post by JFR »

ES 60 minutes.

Major warfare going on.

Bears big push down late yesterday.

Bulls big push up today.

Then the bears push it down hard again today.

2024-05-23_06-36-09.png
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JFR
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Re: 05/23/2024 Live Update

Post by JFR »

ES 5 minutes.

Very strong bear bar to start the day at the open.

2024-05-23_06-39-09.png
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JFR
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Re: 05/23/2024 Live Update

Post by JFR »

ES 5 minutes.

Finding some support at the Pivot.

Back later ...

2024-05-23_07-02-07.png
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Cobra
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Re: 05/23/2024 Live Update

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Re: 05/23/2024 Live Update

Post by Cobra »

It's a morning hourly hollow red

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Re: 05/23/2024 Live Update

Post by Cobra »

Measured move down, probably targeting the yesterday's low.

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Trades w 2 Cats
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Re: 05/23/2024 Live Update

Post by Trades w 2 Cats »

ES 06-24 (60 Minute) 2024_05_23 (7_47_36 AM).png
Early weekend reading- My best guess

Nvidia and Microsoft are playing the same old cooking the books game we have seen so many times in the past. This quarter the results confirm that Nvidia management is running their old game plan. Interesting that Blackstone is loaning billions to the Nvidia subsidiary Coreweave (run by former Enron guy) secured by processor chips. They are accused of running a CRE secured loan Ponzi fund. Since Nvidia earnings was supposed to be the cherry on top for the new bull market I am thinking the top very well could be in for the summer. We will know in a week or two.
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Cobra
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Re: 05/23/2024 Live Update

Post by Cobra »

Maybe the low was in for today.

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Re: 05/23/2024 Live Update

Post by Trades w 2 Cats »

ES 06-24 (20 Minute) 2024_05_23 (8_55_14 AM).png
Volatility (VIX) options expiring, then more options expiring as we head into next week. Point being the market makers will be loosing their short term grip. In the mean time we are filling in the volume profile.
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Re: 05/23/2024 Live Update

Post by Cobra »


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BullBear52x
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Re: 05/23/2024 Live Update

Post by BullBear52x »

Swing setup: last sell failed, bears didn't make it, next dip will be bought.
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Intraday: new swing high, it is bullish bias.
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Internals: bearish bias, there is wind of change on internals, time to review the chart book carefully, good luck, Peace!
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Last edited by BullBear52x on Thu May 23, 2024 12:51 pm, edited 1 time in total.
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Cobra
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Re: 05/23/2024 Live Update

Post by Cobra »

Generally I won't believe it's a double top here but let's see.

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koolblue
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Re: 05/23/2024 Live Update

Post by koolblue »

10 min chart.png
8-)
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BullBear52x
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Re: 05/23/2024 Live Update

Post by BullBear52x »

Trades w 2 Cats wrote: Thu May 23, 2024 11:58 am ES 06-24 (20 Minute) 2024_05_23 (8_55_14 AM).png
Volatility (VIX) options expiring, then more options expiring as we head into next week. Point being the market makers will be loosing their short term grip. In the mean time we are filling in the volume profile.
Look at the recent first LL, the HV area and LV of those two days, we are going no where with poor high, today's high can mark the excess, time and price auction completed? down from here? I need to see a clear LL to say we will head back to fill all the poor auction vacuum left behind
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Trades w 2 Cats
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Re: 05/23/2024 Live Update

Post by Trades w 2 Cats »

Thinking the same thing, unfinished business. There is that Keynesian quote about markets staying irrational longer than you have capital to invest. But it does look like the Ponzi capital is pulling the surplus out of the market.

The Nvidia pin bar at the top certainly could be the capitulation of this run but it just never seems to turn out so neatly.
^SP500 (Daily) 2024_05_23 (10_26_48 AM).png
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BullBear52x
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Re: 05/23/2024 Live Update

Post by BullBear52x »

This dip will be bought, first thing first. RSI > 30 = Trigger.
React!
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Cobra
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Re: 05/23/2024 Live Update

Post by Cobra »

This bear shall have legs.

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BullBear52x
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Re: 05/23/2024 Live Update

Post by BullBear52x »

Day traders' heaven.
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