There is a mild resistance at SPX 2750. I expect it to be overcome soon and 2800 is tested..............
Can Energized Bulls break above the 200ma?
#11
Posted 06 November 2018 - 10:28 AM
#12
Posted 06 November 2018 - 11:05 AM
#13
Posted 06 November 2018 - 11:16 AM
I expect a few attempts at the 200ma (2760/65) but .... it's a market that will be influenced by external factors - elections, trade war etc.
I am leaning towards more declines after this rally, to the SPX 2600 low.... but how far does this rally go is the big question.
#14
Posted 06 November 2018 - 11:18 AM
#15
Posted 06 November 2018 - 12:56 PM
Closed that lonely QQQ call
am now net short 2 QQQ puts.... want to add more during the next few hours, few days.
After 4 great NQ trades, it has been rather choppy....
#16
Posted 06 November 2018 - 01:42 PM
I expect a few attempts at the 200ma (2760/65) but .... it's a market that will be influenced by external factors - elections, trade war etc.
I am leaning towards more declines after this rally, to the SPX 2600 low.... but how far does this rally go is the big question.
I see it will test at least SPX 2800 ....................
#17
Posted 06 November 2018 - 03:34 PM
Market still looks weak, too weak to get to SPX 2800.
But, the results tonight could produce a huge rally.
Tomorrow, the FED may adjust their language to a more dovish mode.... more rally
Until the, I am expecting the rally to end this afternoon & then we will see where it goes from there.
---
Apple reportedly cancels iPhone XR production boost
You saw this yesterday? Missed it until a few minutes ago:
Apple told its main phone assemblers, Foxconn and Pegatron, to stop plans for additional iPhone XR production lines, a report said Monday.
The order to the two Taiwanese companies suggests that demand for cheapest of the 2018 iPhones hasn't lived up to Apple's expectations, according to Nikkei, which cited anonymous sources.
"For the Foxconn side, it first prepared nearly 60 assembly lines for Apple's XR model, but recently uses only around 45 production lines as its top customer said it does not need to manufacture that many by now," a source told the Japanese financial paper.
https://www.cnet.com...oduction-boost/
#18
Posted 06 November 2018 - 04:04 PM
No, they can't break above the 200ma, at least not today.
But, they have gotten nearer and are maintaining the upward momentum. This may be an indication of a post-election rally.
However, it's all up in the air....
#19
Posted 06 November 2018 - 06:02 PM
Agree it is all up in the air at the moment... However, I have noticed a few things.
1) Talking heads are all bullish on the market
2) Market Breadth is picking up
3) Volume is relatively low
4) Last month bearish news is not mentioned ( Increased inventory, Low new home sales, poor outlook for home builders ) any more.