15 replies to this topic

[dTraderB]

Notwithstanding the spike down after Washington Post's breaking news on Mueller threatening to subpoena Trump, it does appear as if bulls saved a possible rout with a concerted bout of buying that prevented another test of the SPX 200ma.level. 

That resulted in a strong rally that sent SPX above the key 2650 level and on the way to the next resistance level at 2680. 

 

The markets face a growling list of problems, see article below, and it can resume the decline anytime, but for now, the bulls have a great opportunity to rally until the markets get spooked again with a dose of reality: Goldilocks has left the building & this is not the 2017 stock market. 

 

The Big Squeeze: New Risks For Fed Interest Rates, Recession And Yield Curve

Goldilocks has left the building. For proof, just look at interest rates. The 10-year Treasury yield eclipsed 3% last week for the first time in four years, hitting the S&P 500, Dow Jones and Nasdaq. Clearly, the not-too-hot/not- too-cold economy that supported the nine-year bull market for stocks has fundamentally changed 

https://www.investor...interest-rates/

Edited by dTraderB, 01 May 2018 - 09:14 PM.

[dTraderB]

An interesting chart from Tom Bowley

S&P 500 Stuck In Trading Range; AAPL, Then Fed, On Deck

 

 

http://stockcharts.c...ed-on-deck.html

[dTraderB]

APPLE and NQ must finish higher today, even by a point, or else this market is toast. 

APPLE beats, will spend 100 billion in stock buy-backs, and the market still cannot finish higher? Something is wrong....

 

Also, SPX must close higher than 2650 to maintain the moderately bullish tone after several tests of the 200ma

If it does not, then the 200ma will be decisively broken.... remmeber the 200sma is much higher today than in February.

 

Still hoping for that VXX 37 handle this week.

[dTraderB]

Bulls seem to be stronger and more motivated than bears even as bears get several opportunities to go for the jugular.

 

Let's see how this latest bounce goes, bottomed at ES 2640. 

 

SPX 2622/24 is critical SUPPORT, below that is the trapdoor to hell for bulls

 

SPX 2650/52 is major resistance, a close above that is very bullish

Edited by dTraderB, 02 May 2018 - 11:05 AM.

[Harapa]

 

Harapa, on 26 Apr 2018 - 12:36 PM, said:

BTW, my FF is VXX to trade <40 in next 5 days..

On target...

Next...

VXX to 37..High probability

[CLK]

Volume is not right, I'm bearish on the market. Short with 265P.

[dTraderB]

I am bearish below SPX 2650 but bears seem unable to drive the market lower. 

Maybe they want to sell higher. much higher?

 

I would also like to buy QQQ puts at QQQ  > 168 

and also buy VXX at VXX < 37

 

In the meantime, I will continue to labor away at daytrading NQ & ES 1m charts.

[dTraderB]

FED has declared victory in achieving 2% inflation target and apparently does not want to talk too much about inflation, basically taking their inflation toys and going home  !! 

This, even as inflation is now threatening to rise throughout 2018 and 2019 and will result in more and more rate hikes etc etc etc 

Markets spike up and then buyers' remorse sets in with a retreat, minor so far. 

 

The tone is bullish and will remain so while SPX remains above this week's low and above the 200ma 

 

But, it now appears as if both bulls and bears are very exhausted and unless there is a break below 2600 or above 2680 we will be this sate or torpor and summer-type doldrums. I yearn for volatility !

Edited by dTraderB, 02 May 2018 - 01:25 PM.

[dTraderB]

spx 2610/12 support zone must hold or else market will make new 2018 lows

 

NASDAQ looks weak, especially after APPLE's "great" earnings

[kinga200]

spx 2610/12 support zone must hold or else market will make new 2018 lows

 

NASDAQ looks weak, especially after APPLE's "great" earnings

A close today at 2,640 or lower should do it...