larry p tim ord
he goes long or short everyday
i will post larry p video tonite
larry saying if rally next week or so
failure at fib .38 from top
would be real bad
it would mean a triple zig zag
moor analytics bearish on crude
unleaded gas leading oil down
So he put the bull suit on?
shane covered near lows
from larry p show
excess low 10am
edge bulls till poor hi or excess high
but not worth the risk
if no rally out of balance area by the afternoon
we are balancing to go lower
trade the edges only
3rd day of balancing
we did a look below and fail yesterday falling out of balance area low
then re entering value area
spx trendline bounce
stan harley oct 6 bottom
shadow thinks market is more bearish then what he thinks
this is a market correction and will not bounce till multiple rally attempts are made
So 2 more rally days on oil, gold… im not gonna touch… only shorts for me… longs havent been working for me
news trumps all indicators
china is just so important
the eia news was plain ignored or priced in
the key was holding the vwap all the way up
buyers came in before daily wtic 20da ma indicating
they did not want to miss rally
oil loves to do 3 day moves too
gold is trying to bottom
Spx got short term support here today..4238 which is near 200ema..
All big guys bought today near 4238 area ..
conflicting news on spending deal
so now sellers
spending bill resolution rally
2 days of
triple distribution on oil
so oil needs a base to rally from
we need to go sideways at these prices
or sell off back to the vpoc
looks like tops 1200
small build on oil
small draw on gasoline
market looked past that
cl 4hr es 70
doubled the base and then 30c higher
highest buying volume in months
oil tops before lunch usually
1030am oil news
first day of excess high out of balance area
gold is dollar sensitive
while oil seems to react more to news
oil 4 hr rsi 63
as many traders say in this market they do not like to chase breakouts
not saying to short by any means
china news and oil
as china goes so does oil
china president announced measures to stimulate china economy.
high volume highs usually gets tested
Looks like breakout in effect. Targeting previous high of course
oil eia data tommorrow
many oil traders layoff trading on api or eia data release.
oil at top of balance area is not the best location for longs
Im just lookin for a flip. Thoughts on oil?
Been sideways, and making lower lows on the sideways consolidation
no trin panic yet or put exhaustion.
some buyers have been nibbling.
any bounce now
will not hold up
p/b not done yet
when the down move ends
the abcd will be done and move away HARD
from the lows
leg a down july end to mid august
was -264 spy points
b leg down down
spy 4520 to 4210
what i know
the market is doing a double zigzag down and will do an EW abc up when the down move pauses
up to fib .38 to .50 of the down move
in corrections double zigzags are common
It went from calling the top to calling the bottom but it just keeps sliding lower...lol not you but other Ihub'ers and it is trying to bounce now
storm seems to be killing market
wait till buyers
then match with sells
Here is scale. Looks like they are rounding to nearest integer.
Click on "Geomagnetic storms" in link below.
Interestingly, it also indicates what are affected by these storms.
thanks for info
storms are not instantaneous. they can happen over night and produce selling the next day
shadow premkt videos
NOAA UST time is 5 hour ahead of EST time. i.e. EST is 5 hour behind the time shown at NOAA site.
I don't know if NOAA info is updated at set time or as info comes in.
seasonality and double storms
it seems like a double storm does not do much
seems once humans sell they have satisfied the impulse the storm has created
it seems a short term bottom is close
bottoms happen with no sellers or exhaustion selling
2 longer term views
shane- sell into year end
seasonal bottom is very close