42 replies to this topic

[dTraderB]

Market looks a bit shaky but I am seeing a bit more resilience, and on Friday and today, the markets bounced off the lows and finished reasonably strong. So, I would not be surprised of S&P rallies to at least 2700/2705 and then we will see if the bulls can hold on to those gains. 

However, you can't deny the weakness in the charts, with SPX below the 50 & 100ma, and stock after stock selling off after great earnings!  VIX is behaving strangely, maybe too much complacency.

Even GOOGLE (Alphabet) is suffering from that malady after spectacular earnings this afternoon.  And, then there is this:

 

Short-Term Swenlin Trading Oscillator Divergence Could be a Serious Warning Sign

Erin Swenlin |  April 23, 2018 at 06:10 PM

http://stockcharts.c...rning-sign.html

[K Wave]

It looked sorta like bears didn't have much gas left today, and no acceleration when AAPL went to the swing low area..

 

Trannies were also strong into end of day

 

Using NQ 6675 as pivot for overnight bull/bear pivot...my guess is we get a gap tomorrow and go tomorrow in whichever direction wins the battle of 6675 overnight...

Edited by K Wave, 23 April 2018 - 09:28 PM.

[da_cheif]

It looked sorta like bears didn't have much gas left today, and no acceleration when AAPL went to the swing low area..

 

Trannies were also strong into end of day

 

Using NQ 6675 as pivot for overnight bull/bear pivot...my guess is we get a gap tomorrow and go tomorrow in whichever direction wins the battle of 6675 overnight...

>Trannies were also strong into end of day< .    yup ada vox sure did eh?  :>)

[dTraderB]

Good call, NQ rallying after breaking out of that congestion zone, now above 6700

[ryanoo]

Market looks a bit shaky but I am seeing a bit more resilience, and on Friday and today, the markets bounced off the lows and finished reasonably strong. So, I would not be surprised of S&P rallies to at least 2700/2705 and then we will see if the bulls can hold on to those gains. 

However, you can't deny the weakness in the charts, with SPX below the 50 & 100ma, and stock after stock selling off after great earnings!  VIX is behaving strangely, maybe too much complacency.

Even GOOGLE (Alphabet) is suffering from that malady after spectacular earnings this afternoon.  And, then there is this:

 

Short-Term Swenlin Trading Oscillator Divergence Could be a Serious Warning Sign

Erin Swenlin |  April 23, 2018 at 06:10 PM

http://stockcharts.c...rning-sign.html

if you examine her indicators, breadth and volume, when both indicators make a higher high, then the price corrects with minimal pullback; when both make a lower high, then price makes a more serious pullback; and when the breadth makes a higher high and volume makes a lower high, they probably cancel and the effect on price she is yet to find out? I don't know how this third case is a divergence.

[dTraderB]

BOOLS missing in action ..... or was that a FAKE rally in pre-market session?

 

My NQ line in the sand is 6750

 

10yr Treasury hits 3%, highest in 4 years

[K Wave]

Yep...30 min close below NQ 6670 and this could get ugly today....

[K Wave]

Watch AAPL...after the stick save yesterday, if that pivot low goes by the wayside...crash window will open wide there...

[K Wave]

GOOGL action on "great earnings" not so nice for bulls either...

[K Wave]

AMZN working on 3rd black crow after "100 Million" top day....