13 replies to this topic

[CLK]

One thing that is irritating about the market, as soon as a pivot support is broken

the computers are pre-programmed to buy, not before and not during, after. 

And it's not just a weak attempt by retail, it's a full 10-20 point campaign. 

 

So broken support never seems to help the bears at all.

[da_cheif]

bull markets are like that......

[Charvo]

I think anti-dollar assets are a better bet for downside action at least until the June rate hike.  I'm already starting to see some downward movement in FXI, but I am pairing this trade up with a combination of SPX and NDX longs.  I think the US markets are safe.

[CLK]

This is the last week of rally, QQQ may make one last attempt at the highs and then it's over for awhile.

Looking for 134 or less on IWM next week.

 

Hourly TL support is broken on QQQ. Look for that one to hit 134 in one day when this breaks.

 

Fifteen min. looks overdone for now, selling should resume later today or overnight.

Edited by CLK, 04 May 2017 - 10:33 AM.

[CLK]

That was quick. Bulls last chance to cash in at old highs just passed. It's going to get ugly from here.

Friday probably down 2-3%.

 

Cash hourly MACD pushing off, long way to sub zero -1 or -2.

Edited by CLK, 04 May 2017 - 11:21 AM.

[CLK]

Daily Renko volume low and steady on this move, supporting further downside.

[CLK]

NYAD divergence, I think this is the first since 2015. Although the divergence does not cover much time span, it is still significant.

I think my intermediate call will end up being accurate.

 

 

Edited by CLK, 05 May 2017 - 07:24 AM.

[qqqqtrdr]

Automatic buying and propping up the market is most likely happening......   It is typical and can easily be done by institutions when volume is low....   Underlying economic fundamentals are getting better, but not across all sectors..  So eventually the ability to prop will fail....   It is just difficult to know when that will be...... 

 

New Home Sales are up 11% from last year, while Car Sales are down 2%.  GDP Q1 was at .7% and 3.5% for Q2....   Wage growth in early January was 4.47%, so overall economic numbers are strong, but with global demand for iron ore and oil dropping I'm thinking it is short lived...   Over time the market will catch up, it always does.    The question is, will you lose your shirt in the meantime.....

 

Barry

[da_cheif]

.>The question is, will you lose your shirt in the meantime.....<   how is that possible in a monster bull mkt?

[CLK]

Whenever one is trading less than two weeks time expo. you just have to follow the 15-60 min. charts

unless you have a strong eod signal. My short term trades are losing money overall because I refuse to cover at 

new lows, my fault. I also have TZA calls for June 16th, they are positive despite the underlying noise.

 

I think the Renko 15 min. chart is going to be my system for st trades. To avoid whipsaw I will

have to go to cash at a countertrend change instead of assuming trend change and reversing my position.

Edited by CLK, 05 May 2017 - 08:39 AM.