Jump to content



Photo

FED declares victory - Powell & friends believe they are done cutting rates


  • Please log in to reply
14 replies to this topic

#1 dTraderB

dTraderB

    Member

  • Traders-Talk User
  • 16,679 posts

Posted 30 October 2019 - 07:59 PM

I am looking for the SPX IT top tomorrow or sometime next week. 

 

In the interim, expect more low volume choppy markets with an upward bias but struggling to make higher highs.

 

A daily close above SPX 3150 will invalidate my forecast

 

I added QQQ Jan puts and VXX longs today. Have not bought any SPY puts, so far.

 

Fed Attempts To Conclude Their Mid-Cycle Adjustment

https://blogs.uorego...cle-adjustment/

 



#2 dTraderB

dTraderB

    Member

  • Traders-Talk User
  • 16,679 posts

Posted 31 October 2019 - 06:12 AM

David Larew @ThinkTankCharts
FollowFollow @ThinkTankCharts
More

Dow:VIX indicator - just hit the Top Watch area - not a timing chart, but a chart that shouts a warning to Bulls.

EIMik_SXYAAwWd2.png
2:13 AM - 31 Oct 2019

 



#3 dTraderB

dTraderB

    Member

  • Traders-Talk User
  • 16,679 posts

Posted 31 October 2019 - 06:12 AM

David Larew @ThinkTankCharts
FollowFollow @ThinkTankCharts
More

Dow:VIX indicator - just hit the Top Watch area - not a timing chart, but a chart that shouts a warning to Bulls.

EIMik_SXYAAwWd2.png
2:13 AM - 31 Oct 2019

 



#4 dTraderB

dTraderB

    Member

  • Traders-Talk User
  • 16,679 posts

Posted 31 October 2019 - 06:16 AM

Games continue... the clever Chinese will stall, hassle, hustle, dither, haggle......until November 2020

 

China Doubts Long-Term Trade Deal Possible With Trump Shawn Donnan, Jenny Leonard and Steven Yang

https://www.bloomber...ible-with-trump



#5 K Wave

K Wave

    Member

  • Traders-Talk User
  • 25,905 posts

Posted 31 October 2019 - 08:00 AM

Backtest of the big round 27K on YM this AM....

 

If that holds as the low, and it then takes out 27,200  holes going to start getting ripped in the shorts....

 

Thus far, hourly YM chart look like classic cup w handle breakout with backtest to the handle before launch.....

 

Back below 27K now would be cause for bulls to have some concern...

 

In the meantime, bulls still have the ball and may be about blow the roof off....

 

time will tell....


The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy

 

 


#6 K Wave

K Wave

    Member

  • Traders-Talk User
  • 25,905 posts

Posted 31 October 2019 - 08:48 AM

Moment of truth could be right about here....


The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy

 

 


#7 K Wave

K Wave

    Member

  • Traders-Talk User
  • 25,905 posts

Posted 31 October 2019 - 09:22 AM

NOT a good looking first hour for bulls on NYA, but as long as 5 min 900 holds the line on the pullback, bulls still have the swing term ball.

 

Key levels look to be 13,150, and 13,120....below that and will start to look like launch aborted...

 

Let's see how rest of today plays out....


The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy

 

 


#8 pdx5

pdx5

    I want return OF my money more than return ON my money

  • Traders-Talk User
  • 9,521 posts

Posted 31 October 2019 - 10:15 AM

Games continue... the clever Chinese will stall, hassle, hustle, dither, haggle......until November 2020

 

China Doubts Long-Term Trade Deal Possible With Trump Shawn Donnan, Jenny Leonard and Steven Yang

https://www.bloomber...ible-with-trump

I have been saying that for like ever! 

The clever Chinese are in no hurry to make a deal with Trump.

Waiting for Impeachment or losing election.

They want to deal with the next president, democrat or republican.

All except Trump will give the Chinese what they want.


"Money cannot consistently be made trading every day or every week during the year." ~ Jesse Livermore Trading Rule

#9 K Wave

K Wave

    Member

  • Traders-Talk User
  • 25,905 posts

Posted 31 October 2019 - 10:24 AM

Direct hit on the Down 5 min line..so far, bulls holding the line.

 

IF Dow climbs back over 27,100 now, then bulls have a real good shot at starting to firmly take control...

 

Back below today's low now, and aborted launch will start to look more likely....

 

Lickin' my chops for the start of a decent sized move gettin' underway real soon....

 

Long off the 5 min 900....with stop/reverse at same level..

 

will add to long if it takes out 27,100

 

SOX/QQQ likely to lead way today if this is going to reverse back up.....


Edited by K Wave, 31 October 2019 - 10:25 AM.

The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy

 

 


#10 K Wave

K Wave

    Member

  • Traders-Talk User
  • 25,905 posts

Posted 31 October 2019 - 12:44 PM

Retest of the low completed. Now we see if bulls take it up and off the launch pad...

QQQ made a higher low on the second test down. Keep your eye on it...

The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy