15 replies to this topic

[dTraderB]

We are there, but not down, still basically there, no significant decline from that IT TOP range, maybe another day or two of thrashing around, more battles, but the BULLS came back quite strongly today with the typical LAST-HOUR buying. 

 

This is a SPX hourly just to locate where today's close is in relation to the recent highs and a few well-watched levels:

20ma @ 2779 (yellow)

close @ 2774 (green)

50ma @ 2763 (cyan)

 

200ma @ 2684

 

That white line is the VIX; it was DOWN today while the SPX was DOWN. 

VIX has been basing but no VIX hourly or daily buy, as yet. 

 

Toppish, but today's action has not confirmed the IT top, not as yet. A close above SPX 2810 will indicate a resumption of the V-shaped rally since Dec 24th 2018.

 

QQQ daily close has been almost FLAT for the past 3 days, slightly down but nothing significant. Hate that, go up or down, not flat!

 

[robo]

More

Waiting to see how this plays out....  Watch the sky?  Maybe!  We shall see......

 

SPX again can't handle success near 2,800...outside of the late-2018 plunge, the strategy has been to add at 2,600 and trim at current levels. Fourth failed attempt at 2,800 in the past four months – major resistance here

https://twitter.com/...uyRosie?lang=en

Edited by robo, 21 February 2019 - 07:16 PM.

[dTraderB]

 

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Waiting to see how this plays out....  Watch the sky?  Maybe!  We shall see......

 

SPX again can't handle success near 2,800...outside of the late-2018 plunge, the strategy has been to add at 2,600 and trim at current levels. Fourth failed attempt at 2,800 in the past four months – major resistance here

https://twitter.com/...uyRosie?lang=en

 

 

The TRADE NEGOTIATIONS seem to be controlling the market direction, for now. 

[dTraderB]

 

Prices are quickly approaching major resistance above 2,800 and we haven’t had a meaningful pullback during this nearly 20% rally. How many points of profit are still above us? 30? 50? How many points of risk are between us and support? 180? Risking hundreds of points to make dozens hardly seems like a prudent trade.

The most nimble day traders can squeeze the last few dimes out of this rally, but the rest of us should definitely be growing defensive. Anyone still buying up here clearly doesn’t understand how markets work.

Don’t get me wrong, I’m definitely not bearish. But I don’t see any reason to be chasing prices higher after such a big run. While I don’t know exactly when the next pullback will happen, I do know it will fall through current levels. If we are returning to these prices at some point over the next few weeks, should we really feel pressured to buy today or risk getting left behind?

The biggest risk these late-buyers have is getting cold feet when prices inevitably dip under their buy point. Do they get scared again and bailout “before things get worse”? Sell last December’s plunge. Buy this February’s surge? Sell April’s dip? No wonder most people lose money in the market. If we want to make money, we should do the opposite. Buy when other people are fearful and sell when they are greedy

https://cracked.mark...-prices-higher/

[K Wave]

After bouncing off the 1 min 900 for 5 days in a row, Trannies finally busted it, and then back tested yesterday.

 

Today, it is now bombs away, as Trannies lead the turn down....

 

Big battle on NQ at 7060....if bears win out, could get ugly fast....

Edited by K Wave, 22 February 2019 - 09:43 AM.

[K Wave]

Trannies in no bid mode.....looking like 10400 area easily doable today...

[K Wave]

RUT making what looks like last gasp to test the high....

 

Back under 1577 or so, and Trannie type action very possible....

 

Getting ready to pull the trigger on TZA again, as soon a 1 min chart starts to falter....

[robo]

RUT making what looks like last gasp to test the high....

 

Back under 1577 or so, and Trannie type action very possible....

 

Getting ready to pull the trigger on TZA again, as soon a 1 min chart starts to falter...

LOL.... Another Risk Free Friday so far....

 

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Reminder: So far Fridays have been risk free in 2019. Tomorrow is the 8th Friday of the year. Will tomorrow be any different?

 

 

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Reminder: So far Fridays have been risk free in 2019. Tomorrow is the 8th Friday of the year. Will tomorrow be any different?

[robo]

VIX back under 14ish and moving lower.....

 

https://twitter.com/...=$UVXY&src=ctag

 

https://twitter.com/...=$TVIX&src=ctag

Edited by robo, 22 February 2019 - 10:14 AM.

[redfoliage2]

VIX back under 14ish and moving lower.....

It's going to be even lower in the afternoon today when SPX challenges 2800 as Shanghai index already did it last night.................

Edited by redfoliage2, 22 February 2019 - 10:17 AM.