10 replies to this topic

[dTraderB]

SPX can rally 100 points tomorrow, or 50 points, or even finish slightly up or down -  no one can predict market direction with 100% certainty because...... even the market itself cannot predict its own direction!  However, one can try to analyze the data and possibilities, the probabilities, and try to use previous patterns etc to come up with possible market moves. 

So, with that caveat, I think this market will see SPX 2580 before it sees 2700, so long as SPX does not close on an hourly basis above 2650.

 

Here is an interesting opinion and chart:

DP Alert: Dow Logs PMO SELL Signal - ST and IT Negative Divergences! - ITTM Neutral for Gold

Erin Swenlin |  May 02, 2018 at 07:55 PM

As noted in the signal table below, the Dow logged a new Price Momentum Oscillator (PMO) SELL signal. I've included the chart below with commentary. The other important news is two new negative divergences showing on the DP indicator charts for the short term and intermediate term! And, no surprise to most, Gold logged a new Intermediate-Term Trend Model (ITTM) Neutral signal. With the huge breakout in the Dollar and a near perfect negative correlation between Gold and the Dollar, this decline in Gold was telegraphed awhile ago.

 

Read complete post here:

http://stockcharts.c...l-for-gold.html

 

[dTraderB]

NOTE Globex ES Futures approached the 200ma and bounced.....could this be the low of the day? 

[dTraderB]

SPX 200 ma being tested.... hold or fall

[dTraderB]

successful test of 200ma SPX at 2614, goof bounce to 2624

 

I think there will be one or more tests of 200ma today

[dTraderB]

another test of 200ma spx @ 2514, a bounce, so far

 

if there is another test, it will be an EPIC Fail, and SPX will fall below 2600

[dTraderB]

...and so it was ....

SPX cracked the 200ma and dropped to 2600.5   .... trying to bounce

 

[dTraderB]

Some buying below SPX 2600 but there is the high probability of new 2018 lows if SPX closes below the 200ma today

[Harapa]

Short VXX @ 43.75...S/L  45.05 ( 3 consecutive 5 min bars above the price)

[dTraderB]

wow

that's a great trade

I exited VXX long with a small profit

waited too long to close that  position

Will buy VXX below 40

[Harapa]

Short VXX @ 43.75...S/L  45.05 ( 3 consecutive 5 min bars above the price)

Position will be closed before close...