44 replies to this topic

[12SPX]

Ok that was fast, 2940, think Ill hold and add to it at 2945 up to 2950, think we'll be in for a surprise overnight, tomorrow to end the month!  I'll put in my stops before I go to sleep lol!!      

[dowdeva]

The NYSE summation index will almost assuredly go above zero tomorrow.  Peaked at 1000+ at Jan expiry, bottomed two days after price low at minus 1250 ish.  Only 5 other times has the summation index dropped that fast.  1930's, 1938, 1974, 1978, and 1980.  All of those periods lasted much longer with negative summations in the minus 2200 range, so the one we had in March was the shortest since the 1920's.  They are going to be able to start selling the buy side to retail next week if we do not collapse the next 2.5 days.  AAII grossly negative, Inverse shorting record dollars invested, Larry Williams Video on 50% retracement bottom still confirmed, record levels of cash on the side lines, record flows out of equities, record long accumulation by commercial hedgers, VIX dropping like a stone day after day after day and those put options paying every day.  LOL, just some positives since not one positive word on CNN headline news this morning.

Great post. May I add that 'da boyz', they like their put premium deep discount, not expensive, as they are right now. Still should be some nice bull stop sweeps/corrections until then. Huge block sells today on the SPY in the 293 range. 

Edited by dowdeva, 29 April 2020 - 03:38 PM.

[12SPX]

Okay average short in is 2945, would like to get it up to 2950 we'll see. 

[Darris]

Right now on MSFT earnings, NQ  hit 9119.75 and ES 2959.75.  SPY around 296 which is above the March 6th close before 22 point gap down on March 9th.  March 2020 NQ futures closed at 9016 on January 31st this year.  We should see end of month weakness tomorrow afternoon, but from what level, yikes.....  All the FAANG-M like issues continue to explode higher.  Makes me think of the NYMO momentum we saw in January 2019 that carried price for four months, or until the good drop in May.  When I was reading the FED speak headline quotes today, I was stunned by two comments they made.  1/ Corporate borrowing facilities have NOT even opened yet.  2/ Fed can "LOAN UNLIMITED" dollar amounts.  Nothing has changed in the last 11 years, and it does not seem like it is going too.  Only two things can lead to a large drop for a month or 3, rising interest rates or QE/Non-QE spigot gets turned off.  Just a keep in mind those recent high prints on the SPX/SPY means there is already ANOTHER 1% premium in prices vs the cash close.

[12SPX]

Okay with the overnight trading I was able to get my short up to 2948 and now have a profit stop in at 2938.  

[12SPX]

I was hoping we would be around blus number this morning but none the less think I'm going to lower my stop down to 2930.50 and that will be it.  Restart if we hit that.....

[12SPX]

Ok can't resist, in case theres a pop at the open 2920 lol!

[12SPX]

Okay out for +28 points, still think were going to head down but we'll see, just wanted to finish this up since I started posting it lol!!  

[salam]

I entered overnight ES 2960 1/3 position

2930support gone. Trying to rally above yesterday’s gap open.

selling the rallies should work through May

[12SPX]

Ya agree especially staying up here, I'm still rooting for blu's low but now we have less then an hour lol!!