02/16/2023 Live Update

[Cobra]

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Must be a bad news, overall still in a range though.

[JFR]

Source:

https://www.marketwatch.com/livecoverag ... =home-page

Not my numbers. Not my opinions.

2023-02-16_06-04-31.png (24.82 KiB) Viewed 2092 times

18 min ago

Stock futures extend slide after PPI, other economic data

Stock-index futures extended a drop after a January reading on the producer price index came in hotter than expected and other economic data pointed to underlying economic strength that could force the Federal Reserve to be more aggressive in tightening monetary policy.

U.S. wholesale prices jumped 0.7% in January to mark the biggest gain since last summer, offering further proof that inflation is sticky and unlikely to decline rapidly. Economists polled by The Wall Street Journal had forecast a 0.4% increase.

First-time weekly jobless claims remained below the 200,000 threshold.

Dow futures fell 161 points, or 0.5%, while S&P 500 futures shed 0.7% and Nasdaq-100 futures dropped 0.8%.

[JFR]

ES daily.

Day 12 in this base, after 3 moves up, reaching the high of December.

Large bear candlestick, a marubozu.

[JFR]

ES 60 minutes.

A roller coaster. Strong move down, through the Pivot, through S1, now seeking support.

[JFR]

ES 5 minutes.

Drifting down for a few hours.

Then accelerating its move downwards.

Then going over the waterfall. (Or falling off the cliff.) Ha ha.

Finding some support at the 4107 level.

[BullBear52x]

I don't like gap, the August gap not fill. now another big one today. Hmm

[BullBear52x]

20% from the bottom, we are almost back to bull market, today is really taking the hard turn on bullish view.

[BullBear52x]

Lets trade! same playbook, need to see LL and closed under LL to say the trend reversal is at hand.

[JFR]

Lets trade! same playbook, need to see LL and closed under LL to say the trend reversal is at hand.

Let's trade, says BB52x.

Yup.

Still asleep here. Price is flat. I ran a scalp short, without full support of the indicators (looked good on the hourly). Ha ha. That one nicked me. No worries.

[BullBear52x]

How momentum helps me in day trade? bearish crossed need to confirm with new LL, if not, the bottom is here or near. day trade made simple

[JFR]

How momentum helps me in day trade? bearish crossed need to confirm with new LL, if not, the bottom is here or near. day trade made simple

That is a good one, BB52x.

We all have our own methods. As many methods as there are traders.

Taking a break ...

[Cobra]

Members only update at 10:08 am
http://www.cobrasmarketview.com/2023/02 ... ay-update/

[BullBear52x]

We are now bounce back from bearish crossed, need to see HH, if not, this is still in a bearish consolidation. Momentum day trade made simple. now you see how simple momentum can help. good luck.

[Cobra]

Here's the bears' last chance to make another leg down. Breakout to a new high would be an early sign of an uptrend day.

[JFR]

RTY 5 minutes.

In the race for a gap fill, RTY is winning.

[BullBear52x]

same thing here, are we top for the day? another push up after negative D is common of late, but.....end is near.

[BullBear52x]

See 1 min. RSI (14) not trading above 70 all the last push up, my take = weak sauce. /ES 4127 is the magnet, we may just trade along here all day.

[BullBear52x]

Daily short term momentum is on the weak side. still hanging on top of upper trend line.

[JFR]

SPY 1 minute. PnF.

Down. Up. No man's land.

Later ...

[Cobra]

Members only update at 12:03 pm
http://www.cobrasmarketview.com/2023/02 ... ay-update/