13 replies to this topic

[dTraderB]

On the daily charts, SPX  closed above the 50ma even after a last hour swoon as BULLS overcame an early low to rally hard as the session progressed but could not maintain it to the close.  That's a weak close that extended overnight to more losses in the S&P Futures contract. 

 

This  is an hourly SPX  chart with Heikin Ashi candles that provides a more trendy outlook and it shows the that last hour dive that changed the complexion of the day's trading with a close below the 20, 50, and 200 ma.  That ugly cyan painted zone - I am not the artistic type - is strong resistance and a close above it will be very bullish.  SPX 2700 remains strong support. 
Note the daily SPX 200ma has move up to 2665. creeping up, not too far away! (this is not shown in this hourly chart)

 

[dTraderB]

I told you so! 

 

Posted 25 June 2018 - 09:54 AM

Reason why I am not totally bearish is TRUMP will back down on the China trade spat before it becomes a full-fledged war. It is still in the phony fake stage

 

Stock futures go positive as Trump tech-related crackdown on China is less strict than feared

 

Alexandra Gibbs | Fred Imbert

Published 2 Hours Ago Updated 12 Mins Ago   

https://www.cnbc.com...other-gear.html

[dTraderB]

Mnuchin says it was 'unfortunate' if market got mixed messages on trade and all Trump advisors are unanimous in this decision

 

Berkeley Lovelace Jr. | @BerkeleyJr

 

Published 8 Mins Ago  

 

Treasury Secretary Mnuchin says he's expecting a 'big' GDP number

https://www.cnbc.com...es-and-all.html

[redfoliage2]

So this is just to confirm that there will be restrictions on Chinese investment in tech companies though it will be ruled by the committee.  Nothing else has changed in the trade war.  I see this pop will be sold soon.

Edited by redfoliage2, 27 June 2018 - 09:26 AM.

[dTraderB]

Very strong RELIEF rally that can take this market near or above SPX 2780

 

However, daily close today should be above SPX 2745 to follow this bullish path

 

Yeah, I don't "trust" this fake rally but it is quite good for day trading, nice range, good 3 to 5 points long ESH trades, 

[dTraderB]

SPX rejected at 2745, next test later

[dTraderB]

DOWN on fire, SPX & NQ lagging, small caps negative down intra

[dTraderB]

Trending up since the double test of SPX 2700, on successive days, 

Compression, pressure from below against SPX 2745

Rally looks good, can it break out with a daily close above SPX 2745?

 

This is a 15-minute  Heikin Ashi candle chart

 

     

[dTraderB]

spx up, vix up

 

Will rapidly rising crude oil prices increase inflation, and will crude oil price resume the inverse relationship with equities (crude up, equities down  and vice versa)?

[dTraderB]

LUNCH hour dump sends SPX to almost flat on the day !