Jump to content



Photo

BULLS hanging on....ST & IT LONG


  • Please log in to reply
19 replies to this topic

#1 dTraderB

dTraderB

    Member

  • Traders-Talk User
  • 4,032 posts

Posted 28 January 2019 - 09:32 PM

BULLS staged a good recovery to finish near the highs today, still above the daily SPX 50 and 20ma, and hanging on to ST & IT long.

 

The 50ma (yellow) is the major support and that fat zone from 2660 to 2700 is the massive resistance ahead., with the 200ma above that at 2740.

 

Earnings are now the major factor. Unless the FED sounds unexpectedly hawkish, they are not a factor now.

 

China Trade negotiations are not expected to progress too much but mere talk is neutral for the market. 

 

Of course, any deal China/US deal is good news that can send the market up by at least 5%

 

We have been in this SPX 70 point range for 8 tradings days.....  something has to give, soon.

 

soxj28.jpg



#2 dTraderB

dTraderB

    Member

  • Traders-Talk User
  • 4,032 posts

Posted 28 January 2019 - 09:41 PM

Douglas KassVerified account @DougKass
FollowFollow @DougKass
More

Douglas Kass Retweeted Sven Henrich

$CAT (numbers): Maybe recession

$NVDA (numbers): Maybe recession

$AAPL (numbers): Maybe recession

$F: Maybe recession etc etc

Douglas Kass added,

Sven HenrichVerified account @NorthmanTrader
Powell: No recession
White House: No recession
IMF: No recession
Wall Street: No recession…
Show this thread
11:19 AM - 28 Jan 2019


#3 dTraderB

dTraderB

    Member

  • Traders-Talk User
  • 4,032 posts

Posted 28 January 2019 - 09:44 PM

Back to QE ??   

 

Holger Zschaepitz @Schuldensuehner
FollowFollow @Schuldensuehner
More

#ECB ready to use all policy tools to support Europe’s softening econ, incl restarting QE, says #ECB President Mario Draghi. Move would be used to support Europe’s softening economy amid trade tensions, volatility, slowing China. (Chart via MS) https://www.wsj.com/articles/ecb-open-to-resuming-quantative-easing-if-needed-says-draghi-11548698353 

DyB3kjrXQAEMaXQ.jpg
2:17 PM - 28 Jan 2019


#4 dTraderB

dTraderB

    Member

  • Traders-Talk User
  • 4,032 posts

Posted 28 January 2019 - 09:47 PM

Jeez, who bothers with "correction territory"? 

 

Equity put/call ratio 76%. Highest since 1/11. Also Friday was 51%. SMPT

 

Helene Meisler @hmeisler
FollowFollow @hmeisler
More

I am old enough to remember when we were out of correction territory.

DyByKPWU0AA-x3G.jpg
1:20 PM - 28 Jan 2019


#5 dTraderB

dTraderB

    Member

  • Traders-Talk User
  • 4,032 posts

Posted 28 January 2019 - 09:50 PM

Still up there where the air is rare....nosebleed territory

 

McClellanOsc_466.gif

 

https://www.mcoscill...t_breadth_data/

 

and Greed is a bit more than Fear now:

 

https://money.cnn.co...fear-and-greed/



#6 dTraderB

dTraderB

    Member

  • Traders-Talk User
  • 4,032 posts

Posted 28 January 2019 - 09:57 PM

More CHINA - US trouble:

 

IMMORAL?   did they get that translation precisely?

 

China says US indictment against Huawei is unfair and immoral

An official at China’s industry ministry said Tuesday that the U.S. government indictment against Huawei is unfair and immoral, Reuters reported.

The U.S. Department of Justice filed criminal charges Monday against Meng Wanzhou, the chief financial officer of China tech giant Huawei and the daughter of its founder and president Ren Zhengfei.

https://www.cnbc.com...nst-huawei.html



#7 dTraderB

dTraderB

    Member

  • Traders-Talk User
  • 4,032 posts

Posted 28 January 2019 - 10:01 PM

Next 3 days are VERY IMPORTANT for the market:

 

 

Goldman warned Nvidia could blow up because of China and says these companies could be next
  • Nvidia was on a list of seven companies Goldman told clients to avoid on Friday.
  • Broadcom, Micron Technology, Qualcomm, Qorvo, Skyworks Solutions and Wynn Resorts get more than half their sales from Greater China, according to Goldman Sachs.
  • Shares of Nvidia tanked as much as 17 percent on Monday after the company lowered its revenue guidance for the fourth quarter citing “deteriorating macroeconomic conditions, particularly in China.”
  •  


#8 dTraderB

dTraderB

    Member

  • Traders-Talk User
  • 4,032 posts

Posted 28 January 2019 - 10:05 PM

Difficult for me to see any major APPLE upside surprise on it's earnings tomorrow. 

3M earnings also very important

 

The Calendar

In addition to Apple's report tomorrow, we'll also hear from 3MVerizon CommunicationseBay, and Lockheed Martin

January's consumer confidence survey is also out tomorrow and could offer some clues about whether the government shutdown had any impact on Americans' outlook. 



#9 dTraderB

dTraderB

    Member

  • Traders-Talk User
  • 4,032 posts

Posted 28 January 2019 - 10:08 PM

4114_154872075027.png



#10 dTraderB

dTraderB

    Member

  • Traders-Talk User
  • 4,032 posts

Posted 28 January 2019 - 10:10 PM

Arthur's star and gap...

 

Last week (Monday) I featured an evening star reversal pattern in QQQ. This pattern did not foreshadow further weakness as QQQ firmed in the 161 area the next day and gapped up on Friday. This gap did not last long as QQQ gapped down on Monday morning and filled Friday's gap. We could probably call this an island reversal because the gap up and gap down match.

1548688719282767874454.png

Today's gap is still a work in progress and may or may not hold. Overall, QQQ has moved sideways the last eight days as two conflicting trends battle it out. Long-term, I think the trend is down because QQQ recorded a 52-week low in late December and the ETF has yet to exceed the early December high. Short-term, the trend is up since December 26th with short-term support marked at 160. A break below this support zone would reverse the short-term uptrend.

It is also possible that a pennant or flag evolves from this short-term consolidation. These are bullish continuation patterns and a break above last week's high would open the door to the low 170s.

https://stockcharts....ap-for-qqq.html