01/21/2016 Live Update

[MrMiyagi]

..

[fehro]

I think the big boys want to take the market up higher, but too many passengers still?

VIX is hardly moving with almost 1% move...that's not a good sign for the BULLS...we may see huge gap down tomorrow before weekend...

Super über bear… 184/182 so key.. bulls need to hammer it tomorrow.. deep bear bar, and gap on Monday below 182/184 we are only at the halfway point, wave 3 of 3 target of 3 = 150ish .. my very pitiful, sloppy knowledge of elliot wave, please excuse me if I insult any Elliot wavers with my hack job.. sorry.

[JFR]

More from Murphy ...

[josephli]

Intraday NYMO at -53.29. NYADV at 2122, day high was 2504.

market needs to big up for NYMO forming an M bottom.

[BullBear52x]

financials is lagging. overall is a good sign of getting out of oversold. (secret weapon) Ex-Holy grail

[Cobra]

members only update at 3:50 pm
http://www.cobrasmarketview.com/2016/01 ... ay-update/

[Cobra]

well, guess that's it for today. Friday tomorrow has been a little bit bear friendly. thank you guys, I'll see you tomorrow.

before the close, please take a little time to vote for me, thanks. https://stockcharts.com/public/1684859/tenpp

[fehro]

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[DellGriffith]

[DellGriffith]

[daytradingES]

7:21 AM 1/22/2016
+36.25
in o/n

from barcharts
OVERNIGHT MARKETS AND NEWS

March E-mini S&Ps (ESH16 +1.44%) are up sharply by +1.48% and European stocks are up +2.75% on speculation central banks around the world will act to support the global economy. ECB President Draghi on Thursday hinted at expanding stimulus at next month's ECB meeting, while the Nikkei Asian Review reported today that the BOJ is considering additional easing at next week's BOJ meeting. Energy producers and mining stocks are higher with Chevron and Freeport-McMoRan both up over 2% in pre-market trading as the price of crude oil and copper rallied. Asian stocks settled higher: +5.88%, Hong Kong +2.90%, China +1.25%, Taiwan +1.20%, Australia +1.07%, Singapore +1.75%, South Korea +2.23%, India +1.98%. Chinese stocks rallied on speculation of further stimulus by the PBOC after China's vice president Li Yuanchao said the government is willing to intervene to tap down market volatility, while Japanese stocks surged as the yen fell to a 1-week low against the dollar, which boosted exporters.

The dollar index is up +0.22%. EUR/USD is down -0.39%. USD/JPY is up +0.41% at a 1-week high as he rally in global equities reduces the safe-haven demand for the yen.

Mar T-note prices are down -14.5 ticks.

The Nikkei Asian Review reported that the BOJ is considering steps to counter the hit to inflation from the recent plunge in crude oil. The BOJ meets on Jan 28-29 and the report bolsters speculation the BOJ will expand easing measures.
U.S. STOCK PREVIEW

Key U.S. news today includes: (1) Dec Chicago Fed national activity index (expected +0.15 to -0.15, Nov -0.13 to -0.30), (2) Markit preliminary-Jan U.S. manufacturing PMI (expected -0.2 to 51.0, Dec -1.6 to 51.2), (3) Dec existing home sales (expected +9.2% to 5.20 million, Nov -10.5% to 4.76 million), and (4) Dec leading indicators (expected -0.1%, Nov +0.4%).

There are 6 of the S&P 500 companies that report earnings today: GE (consensus $0.49), Kansas City Southern (1.10), SunTrust Banks (0.87), Synchrony Financial (0.63), Rockwell Collins (1.04), Legg Mason (0.70).

U.S. IPO's scheduled to price today: none.

Equity conferences during the remainder of this week: none.
-------------------
Stocks and oil, at the forefront of a global market rout since the turn of the year, rebounded strongly on Friday thanks to hints of more monetary policy support by the European Central Bank and bargain-hunting by bruised investors.

World stocks recorded their biggest rise in a month, and Asian stocks had their best day in three months. Oil rallied 6 percent, after gaining 5 percent on Thursday, recovering from 12-year lows to go back above $30 a barrel.

European stocks followed Asia's lead and Wall Street looked set to open some 1.3 percent higher, according to index futures.

The surge comes a day after ECB President Mario Draghi signaled the central bank would ease policy further at its next meeting, in March, to combat fading growth and disinflation, a message he reiterated at the World Economic Forum in Davos on Friday.

Europe's main stock indices rose around 3 percent after adding 2 percent on Thursday. Remarkably, given the recent steep declines, some were on track for their best weekly performance in two months.

Investors seized on Draghi's comments and bet that the Bank of Japan might also ease policy further next week while the Federal Reserve goes slow in raising U.S. rates this year.

"With inflation so low, it would be strange if central banks didn't do more in the face of such market turmoil and elevated risk factors," said John Reid, strategist at Deutsche Bank in London.

"It won't be a major growth stimulant, but any extra liquidity provided will have to go somewhere, so it's too early to say the central bank era of elevating asset prices is over," he said.

The FTSEuroFirst 300 index of leading European shares was up 2.9 percent, putting it on track for a weekly gain of around 2.7 percent.

Germany's DAX was up 2.1 percent, Britain's FTSE 100 was up 2.4 percent on the day, and France's CAC 40 was up 3.2 percent.

Earlier this week, all of them had entered "bear market" territory, meaning they were down 20 percent or more from last year's peaks.
http://www.reuters.com/article/us-globa ... SKCN0V0011

[DellGriffith]

History of SPY renko MAJOR buy signals:
(there are also lesser renko buy signals not covered here)

August 26th,2015: good buy signal (gapped up huge white candle next day)
October 20th, 2014: good buy signal (gapped up huge white candle next day)
February 6th, 2014: good buy signal (massive rally over next two days)
June 27th, 2013: good buy signal - dropped lower for one day but over 10 days was sharply higher. (from SPY 153 to SPY 160)
June 8th, 2012: good buy signal - gapped up higher the next day but reversed, over 8 days rose from SPY 123 to SPY 127.
August 11, 2011: good buy signal - up around 7% after 6 trading days
August 9th, 2011: bad buy signal - this one probably whipsaws me, make me sell at the low, followed buy a second buy signal on August 11th.
March 21st, 2011: good buy signal - 3% gain in 9 trading days
July 7th, 2010: good buy signal - 7% gain in 15 trading days
March 11, 2009: good buy signal - 10% gain in 5 trading days
November 24, 2008 - good buy signal - 9% gain in 10 trading days (two days off the low)

Nothing is perfect but this is doing very well.