17 replies to this topic

[dTraderB]

This market could actually reach the record January high and surpass it but it will not, at least not this year, because of the unreal and unstable behavior, attitude, and policies of the Trump administration. This economy could be purring along nicely at 2 to 3 % for a few more years but political interventions have derailed that prospect. 

 

For now, there is a good rally going, and it can continue to at least 2760, and then to the next swing high. But, already there are potential barriers as the N KOREA summit may be off with the S Korean leader now in DC to try to save it; the trade war may be reignited as some of Trump's surrogates are urging him to "get tough" and .....who knows what's next? 

 

FUNDAMENTALS do matter and they drive the market!

 

SPX must close above 2742/35 today or else the rally is over. Good support at SPX 2720/22

[dTraderB]

What a rally! 
Will look at PUTs  during this week

 

 

[dTraderB]

Another attempt to break out above 2742.. 

Did not bother with this level before but now it seems to be minor resistance as the market has stalled in this area a few times during the past 3 sessions

[dTraderB]

rejected again at 2742

[dTraderB]

Bearish HOURLY candle.

VIX has been down and now positive on the day

 

That 2740/45 resistance zone must be overcome today or this rally risk an early death.

[dTraderB]

Markets don't like this:
https://edition.cnn....ouse/index.html

 

Still, the tone is bullish, but must close above 2740 today

[dTraderB]

They also don't like this:

 

https://www.cnbc.com...ina-on-zte.html

 

but buyers are stepping in on minor dips down so the buls still hold the edge.

Daytrading is not as easy as the previous three months .... no range, low volatility

[Data]

The attempt to paint North Korea or China into a corner by planting false stories failed.   Kim never promised to give up the existing nuclear warheads, although he is dismantling the damaged test site and ceasing all tests for now.  China never promised to reduce the deficit by 200 billion dollars in 2 years, which is unfeasible to say the least to even the most casual follower of news.  Their negotiating style is very amateurish.

[dTraderB]

Totally agreed, it is shockingly amateurish and simplistic, so much so that China and the TWO Korea's are plying Trump & company like a maestro on the piano.

[dTraderB]

Volatility ready to spike? 

 

 

https://northmantrad...lity-crossroad/