201 replies to this topic

[dTraderB]

ADAM:
"We're still in chop mode in $SPX ~key 3230 battleground as markets await FOMC tomorrow, which sets the trend for August.

Lvls today: Above 3248 in #ES_F targets 3280+. 3190 is main support bulls want held today. Failure sees 3165 then 3105 (below which is the big short opp)"

[dTraderB]

Time running out for BULLS - THEY must take out last week's Swing hi or else SPX 2900 next week

[dTraderB]

Crowded trading event period ahead:

Schedule about to get hectic. Just an FYI

Trump due up later today
$AMD $V $EBAY $SBUX $AMGN after the bell
$SHOP $BA $GE $SPOT $GM tom. before the bell
FOMC tomorrow
$FB $PYPL $QCOM $NOW $URI Wed after bell
$UPS $MA $AZN $PG $KHC $LLY Thurs before bell
Then comes $AMZN & $AAPL

[12SPX]

Taken out at the open for a 13 point profit but not surprising the Fed's POMO is 12.8 billion today, I'll short higher!! 

[dTraderB]

Nq hedge long buy limit placed 10560

[12SPX]

Actually trying a buy here at 3217 see what happens....

[12SPX]

Ok,,, profit stop 3218! 

[K Wave]

Well, AAPL came right up to 380, and now has turned back down.

 

This next swing may be the greatest risk period for bulls.

 

If they manage to survive it without total breakdown, then perhaps they can take it out the top.

 

Trannies also looking a bit suspect this AM....they printed what "appeared" to be a possibly pre-explosion bull flag in yesterday's action....but now, instead of breakout upside, they have gone straight down this AM.

If they end up reversing all of yesterday's pop, then will be a pretty bad sign for bulls.

 

SOX also with terrible action this AM after stalling at 2100.

 

3220 now looks extremely key to bulls hopes on SPX near term. Back below that again, and likely lights out for a bit...

[12SPX]

And thats where my profit stop is now 3220, gonna be a fight today so opportunities both ways! 

[K Wave]

Inverse 3X QQQ...is it going to complete the 5 min transition from bear mode to bull mode this AM???

 

Stay tuned....