44 replies to this topic

[K Wave]

There's the Nessie move above 1 min 900 on BA....now we see if she comes back down below the surface or not....

[dTraderB]

This is one of the major reasons why the bounce looks sustainable in the short-term

SPX hourly:

 

  a close above 2640 will be bullish while a break below the 200ma at 2609 will be really bearish

 

[K Wave]

watching AAPL here to see if we just saw intra day overthrow and reverse...

 

IF we take out last little swing high, bull could start to get some momo going, but back under 164.75, and that mighta been it for countermove up

[redfoliage2]

Despite a little bounce we should see more selling in the next two days...............

[dTraderB]

quick note, in a short NQ trade:

FB earnings tonight  ~~

[K Wave]

so far so good on AAPL...big pivot set up there just above 165....

 

Now let's see if BA prints the same overthrow move around 340

[dTraderB]

THAT was a successful test of the 200ma and, as usual, the bounce that follows looks strong.

Another reason for a bounce today is the 4 to 5 day consecutive red candle theory: after 4 or 5 daily red candles, there is a green one. Pure probability & statistical logic.

 

This is quite a day-trader's delight, let's hope this volatility continues....

 

Where do we go from here: a possible path is a daily close above the 20ma and then an attempted rally to 2700, or 

a failure to close above the 20ma and back down to SPX 2609

 

Thursday can be a very eventful one with FB earnings this after the close today and the important economic reports tomorrow. 

I would not be surprised to see a big down day tomorrow.

[dTraderB]

Of course, there is still about an hour to go during which time SP can tank 30 points to take out the 200ma

[K Wave]

so big jigglin' around YM 24K today...methinks tomorrow breaks away from that level....

[K Wave]

FB initial move up....