10/25/2022 Live Update

[Cobra]

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The line above may not hold another test. Could be an ascending triangle in the making.

[JFR]

ES daily. The trading range which began in late September stretches on. Up to the top of the range, where it pauses.

[JFR]

ES 60 minutes. After two up days, Friday and Monday, now it has slid back a bit to the Pivot.

[JFR]

ES 5 minutes. Rocketing up the chart.

[BullBear52x]

Samo samo

[brokebybernacke2]

bottom call is in. bankers got their fill. Yellen and friends supported bond market right when they needed to..late to the party begins....

[BullBear52x]

looking up to 3862ish /ES

[BullBear52x]

consumer confidence number coming out soon. this could hold up all day if not too bad of a number.

[Cobra]

Members only update at 10:00 am
http://www.cobrasmarketview.com/2022/10 ... ay-update/

[JFR]

SPY 5 minutes. Up to R1, where it finds some resistance.

[BullBear52x]

All eyes prepared for a turn, but with $CPC well below 1 it will be hard, Gamma squeeze continue.

[JFR]

SPY 1 minute. Point and Figure.

Trend up. Bias up. But it could get choppy.

[Mr. BachNut]

The NYMO cycle is UP.
As I write, we are flirting with the Upper Turn Zone.
Visits to the Upper Turn Zone signal to be on watch for a change in character.
Sometimes things keep surging, but around here is where you can see a consolidation or a turn occur.
So... Upper Turn Zone can be helpful for timing but not so much direction.

Price has reached the middle keltner band after its CPI flush below the lower keltner.
The NYMO closes in the Oversold Zone in September gave us an edge to travel to the middle keltner, and that edge has now been fulfilled.
The market can go higher if it wants, but we don't have an edge for that.
It is not unusual to see price hang around the middle keltner for awhile before deciding to venture toward one of the outer keltners.
The 50 day MA is about 35 handles above and dropping. Price may want to tag that too.

We have two open gaps below with one at yesterday's close. That near one may be magnetic on a pullback.
We have several gaps above that look stranded to me.
The lowest has the 200MA and the upper keltner converging with it.
Until all that gets successfully tested, one has to view this as bear market rally.

I am long an SPX runner position. I scaled out profit units from a discretionary long at the middle keltner tag.
My NYMO model setup for SPX fired off a long entry this morning. As my discretionary trade hit its target, I am rolling it into this as a runner rather closing it out.

[JFR]

STLD. Materials. Steel.

Incorporated in 1993. HQ in Fort Wayne, Indiana.

Just information, not recommending.

Steel Dynamics, Inc., together with its subsidiaries, operates as a steel producer and metal recycler in the United States. It operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment offers hot roll, cold roll, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; and engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars. The company also engages in turning, polishing, straightening, chamfering, threading, precision saw-cutting, and heat treating of bar products; and cutting to length, straightening, hole punching, shot blasting, welding, galvanizing, and coating of specialty products. Its products are used in construction, automotive, manufacturing, transportation, heavy and agriculture equipment, and pipe and tube markets. This segment sells directly to end-users, steel fabricators, and service centers. The Metals Recycling Operations segment purchases, processes, and resells ferrous and nonferrous scrap metals into reusable forms and grades. Its ferrous products include heavy melting steel, busheling, bundled scrap, shredded scrap, steel turnings, and cast-iron products; and nonferrous products comprise aluminum, brass, copper, stainless steel, and other nonferrous metals. This segment also provides transportation logistics, marketing, brokerage, and scrap management services. The Steel Fabrication Operations segment produces non-residential steel building components, such as steel joists, girders, trusses, and steel deck products. The company also exports its products. Steel Dynamics, Inc. was incorporated in 1993 and is headquartered in Fort Wayne, Indiana.-- Yahoo Finance

[BullBear52x]

Rising wedge for counter trend, bulls earned buy dip coupon. until the next buy fails will bears got a say.

[Cobra]

Breakout to a new day high with good looking bull bar in the next couple of bars then it's an uptrend day. I see rising wedge here so some chances we're near the high of the day if not already in, some chances.

[BullBear52x]

Inflation expectation is on another level. good for the earning? this rally will not sustain with this type of expectation.

[Trades w 2 Cats]

Knocking on the door but can't get in. Three days till Goldman's buyback desk is back in business.

[BullBear52x]

over shot sell spot for counter trend, educational purpose only. one more dip buy before the lady shows up.

[Trades w 2 Cats]

European markets about to close for the day. My unproven theory is they are the morning buyers because their own currencies are horrid, making the US market the cleanest dirty shirt in the laundry hamper.