36 replies to this topic

[tommyt]

Everyone, I mean almost everyone is saying the market is ahead of its skis. That the fundamentals are no good. Price action is almost all that rules. SH has had a ton of dough put in. Sounds like a recipe for ze squeeze after any pullback early next week.

[K Wave]

I'm with ya...using ES 2740 as the pivot for tonight.

 

NQ underperfromed pretty badly on the last leg up....could be short term harbinger of doom...

[K Wave]

And there is also this....NQ hourly smacked right into hourly 900 with good sized divergence on 2nd touch..

 

would not be surprised to see move to 200 hour from here...

 

But you gotta use stops here, because if it doesn't rollover, more air overhead.

 

 

[Rich C]

I think when the earnings reports start rolling in, like next week, the reports won't be good.  Then we should see reality set in and some market weakness.  Right now it seems we are in feel good land, death projections are not as bad as last week, no poor earnings reports, so a little celebration.

[K Wave]

Well Gold certainly liked the more trillions

 

have to careful above 2740-50 ES...

 

SOX 1640 and NDX 8200 look like big time pivot zones...

So IF this fed induced bender does not get a hangover pretty soon after the open, could be bears are now trapped after everyone getting short around 2700-2750.

 

Still willing to look at short side if things start to reverse.

[K Wave]

SOX slipping a bit....

 

If it goes full reversal......

[Darris]

NYMO spiked to +130 early on.  Similar to upward move out of Dec 2018 low, breadth wise.

[K Wave]

SOX red.....

 

back test, or about to rollover....we should know very soon...

[K Wave]

looks like moment of truth on SOX may be right about here...

Edited by K Wave, 09 April 2020 - 09:44 AM.

[beta]

Shorting right here.  SOXS, QID, SDS.   

 

Air-pocket coming up.