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McClellan McSum & Zweig Breath Thrust


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#1 jmicou

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Posted 03 March 2019 - 12:05 PM

So far there has not been a bullish divergence on the MCSUM (weekly RSI may be a better indicator for divergences).  Instead a powerful breadth thrust and rally with a ZBT "buy" off of the lows and goosed from the Fed pivot.  QE is like the Eagles, Hotel California:

 

"And she said, 'we are all just prisoners here, of our own device

And in the master's chambers
They gathered for the feast
They stab it with their steely knives
But they just can't kill the beast

Last thing I remember, I was
Running for the door
I had to find the passage back to the place I was before
'Relax' said the night man
'We are programmed to receive
You can check out any time you like
But you can never leave!"

 

Anyway, seeing something rare in the rally off of the lows.  The DP comments are there, in part, about the McSum:     https://stockcharts....nd-topping.html



#2 opinionated

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Posted 03 March 2019 - 02:25 PM

If we only sideways to down correct...  Say the 2750 level holds over the next 4 weeks then we are going to see a very swift run to north of 3100



#3 dTraderB

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Posted 03 March 2019 - 05:52 PM

U.S., China Are Close to Trade Deal That May End American Tariffs By 
March 3, 2019, 2:45 PM EST  Updated on  March 3, 2019, 5:43 PM EST
  •  
    Beijing has demanded U.S. lift tariffs as part of any deal
  •  
    China offers to lower tariffs on U.S. farm goods, autos: WSJ

 

https://www.bloomber...-trade-deal-wsj



#4 dTraderB

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Posted 03 March 2019 - 05:54 PM

WSJ broke the news:

 

YES, it is not THE DEAL Trump wanted but it is still good progress and much better than what existed before; expect a rally, much of this already priced in the market, and then they will SELL the rally, but I will try to sell before they do!

 

U.S., China Close In on Trade Deal Both countries could lift some tariffs imposed last year, and Beijing would agree to ease restrictions on American products

https://www.wsj.com/...eal-11551641540



#5 dTraderB

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Posted 03 March 2019 - 05:56 PM

Ramy InocencioVerified account @RamyInocencio
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Tune in to @BloombergTV now. The market mover news: -U.S-China trade deal near? Watch equities, FX. -Trump talks down the dollar. Is it too high? -Will China guide down growth forecasts? The NPC this week. Join me and @HaidiLun the next three hours. We mean @business.

 

Connell McShaneVerified account @connellmcshane

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#6 dTraderB

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Posted 03 March 2019 - 06:00 PM

Holger Zschaepitz @Schuldensuehner
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The dollar starts a tad weaker to the week after President Trump laments the currency's strength, blames Fed. Greenback being so strong undermines American business, Trump says. But Euro only 0.11% higher as traders cautious ahead of ECB meeting this week. https://www.bloomberg.com/news/articles/2019-03-03/dollar-slips-after-trump-laments-currency-strength-blames-fed 

D0w0TlsXQAMC4Tm.jpg
1:03 PM - 3 Mar 2019


#7 dTraderB

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Posted 03 March 2019 - 06:01 PM

Markets could be more active this evening into tomorrow ... looking for some daytrades as it opens ...



#8 dTraderB

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Posted 03 March 2019 - 06:04 PM

wrong thread! sorry



#9 redfoliage2

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Posted 04 March 2019 - 12:06 PM

They are selling at high as they did in the last October............


Edited by redfoliage2, 04 March 2019 - 12:11 PM.


#10 cycletimer

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Posted 04 March 2019 - 02:04 PM

They are selling at high as they did in the last October............

I took a shot at it at the open this morning.  As much as I wanted to purchase $SPX put options, I wanted to limit risk....instead I put on a credit spread.  I sold the April 18th 2850/2875 calls for a credit of 10.50 

It's already traded as low as 6.20 near the lows today.