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"I Don't Know If the Correction Will Extend, But Here are Five Charts I'm Watching"


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#71 dTraderB

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Posted 03 June 2021 - 05:14 PM

This phenomenon has royally screwed up the Arms Index readings this year.
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Helene Meisler
@hmeisler
· Jun 2
Between AMC, BB, BBBY and NOK they are currently 25% of the volume on the NYSE.
 


#72 dTraderB

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Posted 03 June 2021 - 05:15 PM

Inflation coming? Again?  YES, it is coming! 

 

Why is inflation not being reflected in bond yields? It's coming. Gold prices lead LT interest rates by 20-1/2 months. Gold paused in 2019, so rates are echoing that pause now. Uptrend to resume after low for rates in mid-August.


#73 dTraderB

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Posted 03 June 2021 - 05:17 PM

The last 4 Wednesday/Thursdays in a row in #ES_F saw selling which setup good buy opps (some for 100+ point rallies) and may be trying a repeat this week Clean technicals so far - lost my 4195 lvl, bounced to backtest, now basing. Above here looking to 4230, dip, then breakout
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Adam Mancini
 
@AdamMancini4
· 10h
All week, 4190-4195 has been my core support in #ES_F and after 3 tradable bounces off it, it failed causing this sell. Bulls need to recapture 4195 to put upside (4320) back in play now. Plan today: Supports = 4170 (here) then 4150 (strong). 4150 fails we sell to 4115 then 4050


#74 dTraderB

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Posted 03 June 2021 - 05:21 PM

NOT extreme, got to get above 90 

 

 

 

NAAIM Exposure 82. Was 44 two weeks ago

 

 

WHAT IS DUDLEY saying? INFLATION coming? Again??

Lisa Abramowicz

"The Fed, according to its own policies, is likely to act too late to prevent the economy from overheating. So no matter what prices do this year, the risk of higher inflation down the road remains elevated:" ex-NY Fed's Bill Dudley


#75 dTraderB

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Posted 03 June 2021 - 05:23 PM

Going on seven weeks, here we still are. (If the S&P stays capped near 4200 another few months and then fails, this was a straight-faced prediction. If it breaks up or down hard soon, then it was purely tongue-in-cheek.)
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Michael Santoli
@michaelsantoli
· Apr 29
The S&P 500 stalled and flickered around the 2100 level for six months starting in early 2015 before buckling late that summer. The index has been hesitating around 4200 for two weeks now. 4200 is exactly double 2100. Dots connected, case rested...


#76 12SPX

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Posted 04 June 2021 - 07:34 AM

 

The last 4 Wednesday/Thursdays in a row in #ES_F saw selling which setup good buy opps (some for 100+ point rallies) and may be trying a repeat this week Clean technicals so far - lost my 4195 lvl, bounced to backtest, now basing. Above here looking to 4230, dip, then breakout
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ZVBuToeP_mini.jpg
 
Adam Mancini
 
@AdamMancini4
· 10h
All week, 4190-4195 has been my core support in #ES_F and after 3 tradable bounces off it, it failed causing this sell. Bulls need to recapture 4195 to put upside (4320) back in play now. Plan today: Supports = 4170 (here) then 4150 (strong). 4150 fails we sell to 4115 then 4050

 

Whoops I didn't hit post lol!  I wrote this 10 minutes ago lol!  Was interesting as I was thinking 4183 was going to see support so I bought there last night and kept my profit stop right there overnight.  Think with the employment report out in a few minutes I'll keep it there for now....



#77 12SPX

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Posted 04 June 2021 - 07:38 AM

Nonetheless now that the market has popped higher I'm likely going to start going back to a short above 4212 if we hit there.  profit stop 4195.



#78 12SPX

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Posted 04 June 2021 - 08:06 AM

Ok, took profits for 30 and flipping to building a short starting at 4210, we'll see if the pop holds or not! 



#79 dTraderB

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Posted 04 June 2021 - 08:08 AM

Once support held and market bounced, then the BULLS had the advantage. Good trade! 

 

 

The last 4 Wednesday/Thursdays in a row in #ES_F saw selling which setup good buy opps (some for 100+ point rallies) and may be trying a repeat this week Clean technicals so far - lost my 4195 lvl, bounced to backtest, now basing. Above here looking to 4230, dip, then breakout
Quote Tweet
 
 
ZVBuToeP_mini.jpg
 
Adam Mancini
 
@AdamMancini4
· 10h
All week, 4190-4195 has been my core support in #ES_F and after 3 tradable bounces off it, it failed causing this sell. Bulls need to recapture 4195 to put upside (4320) back in play now. Plan today: Supports = 4170 (here) then 4150 (strong). 4150 fails we sell to 4115 then 4050

 

Whoops I didn't hit post lol!  I wrote this 10 minutes ago lol!  Was interesting as I was thinking 4183 was going to see support so I bought there last night and kept my profit stop right there overnight.  Think with the employment report out in a few minutes I'll keep it there for now....

 



#80 dTraderB

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Posted 04 June 2021 - 08:09 AM

I may also close one ES LONG around thus level

 

Ok, took profits for 30 and flipping to building a short starting at 4210, we'll see if the pop holds or not!