5 replies to this topic

[dTraderB]

BULLS have the edge as they clawed their way back from 1% below the recent swing high to a few points from the ST resistance at SPX 2600. Very resilient market has been behaving like it did during the 24/7 rally in 2017 and part of 2018:  buy the dips and burn the bears!

 

However, there still remains this ST SPX 2600 daily SPX resistance to break through.

 

Politics seem to be more important than TA and FA so we must be aware of what happens in that sphere, starting from Brexit vote today.

 

I will be away for most of the day on an important business matter but hope to check in.

 

 

[dTraderB]

← Shorting S&P500 Futures Into Close

Brexit by numbers: a few figures on May’s EU divorce woes →

S&P500 Key Levels

Posted on January 14, 2019by macromon

Our daily Doji candlestick, though not perfect but close enough for government work, was triggered at the close.  The S&P rally has stalled and is having trouble cracking through 2600.

Squeezey in the overnight session with futures up 16 handles, probably, in part, due to strength in Asia stocks, especially the Hang Seng.

Though it is not wise to move stops when the market is moving against your position, we are moving our stop on the S&P e-minis up 3 points to 2604, which corresponds to a 2601-ish cash price.  That is where we want to be.  We stuck the 2601 stop in at the close in haste to get the trade off and the info out to you.

So, 2797.92, Thursday and the January high, on the cash is the marker to the upside.  The key downside level to watch is  2573.61, the .382 Fibo retracement of the current correction is the downside support level.

https://macromon.wor...0-key-levels-9/

[dTraderB]

Will Earnings Sustain The Current Rally? Probably Not

Tom Bowley |  January 14, 2019 at 08:46 AM

 

https://stockcharts....obably-not.html

[dTraderB]

Bloomberg‏Verified account @business 46s47 seconds ago

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Theresa May faces the worst government defeat in 95 years. The margin of her loss is key to what happens next

 

The Wall Street Journal‏Verified account @WSJ

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Europe's largest economy is slowing down, raising more concerns over the health of the global economy

2:00 AM - 15 Jan 2019

 

[dTraderB]

CHINA tries to stimulate amid signs of economic slowdown:

 

Sven Henrich‏Verified account @NorthmanTrader

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"Beijing’s financial circles are buzzing with debate about whether the central bank should buy equities as part of official efforts to help a slowing economy".

 

Sven Henrich‏Verified account @NorthmanTrader 3h3 hours ago

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There's always an intervention somewhere: "On Tuesday, the PBOC injected 80 billion yuan ($11.86 billion) through 7-day reverse repos and 100 billion yuan via 28-day tenor"

 

China central bank says RRR cut and reverse repo operations meant to keep liquidity ample

https://www.reuters....t-idUSKCN1P905T

[redfoliage2]

The market got excited running up on the news that Trump today will meet with members of Congress for a solution to the shutdown.  But can they reach a solution?  I doubt.

Edited by redfoliage2, 15 January 2019 - 10:13 AM.