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Thanks keep. Looking at Jerry's count looks kike wave 2 was swift, so what kind of wave 4 to expect?
Do we get choppy wave 4 before FED?
Jerry,
I received following private message. I am not a wave guy. See if you can answer.
Hi d-k,
I was wondering what happens after wave 3 is finished based on Jerry's system. If you could ask Jerry or indicates what your expectations are on his board, I would be delighted.
All the best!
Lately, moves are at open and close or both. Let us see if tomorrow changes that.
Not my kind of moves for MES trading. I need volatility and big H like in August.
So, concentrating on CC.
$TNX is telling. May be heading for 50 dma.
Sorry should have said China news and not tweet.
This was not his tweet, but news from China, I believe.
Trade tweets are becoming less and less effective. It is like the boy who cried wolf too many times.
From OM board. UPB is quite reliable poster.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=151039756
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=151039175
Boom, may be short lived? China may offer to buy more U.S. goods in trade talks, SCMP reports
China is expected to agree to purchase more U.S. agricultural goods in hopes of reaching a more favorable trade agreement with Washington as the two sides prepare for a meeting between their top negotiators in October, the South China Morning Post's Wendy Wu reports. Working-level officials have been going over the text of an agreement, which would be examined when Chinese Vice-Premier Liu He meets U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin next month, Wu says, citing a source familiar with the situation. The text is based on a draft the two countries negotiated earlier this year, the author notes. As part of the talks, China has offered to buy American products in exchange for a delay in a collection of tariffs and easing of a supply ban against Huawei, the author says. In addition, China could also offer greater market access, better protection for intellectual property, and to reduce excess industrial capacity, though it would be more hesitant to compromise on subsidies, industrial policy, and reform of state-owned enterprises, the report says
Why jump in interest rate? when Head line says "U.S. consumer inflation expectations decline to a new low -NY Fed survey"
Yep ABC (Thunderbolt pattern). I figured as a minimum C = A, but went to 5 min S2 with C = 1.7A. Also your mid-fork.
Thunderbolt pattern developing. ES Target 2977. Pivot 2980.
Covered at 2972, MES short from 2980 for 8 points. Peanut trade.
Lately major moves are overnight. So, not much gain in Real Time trading.
Sell short MES 2980. Will short more if goes higher. Playing my long strategy in reverse.
Out of all MES accumulated since yesterday for Total of 86 points. Last sell ES=2935.
Now wait for next liquidation break to accumulate again.
The H pattern has been a money maker for my MES simple KISS trading method. Last month had 448 MES point gain playing long only.
KISS method - Buy to accumulate in 10 point step near round numbers during liquidation break. Sell on reap. Also, trade for 6 to 8 points in between accumulation.
I accumulated and traded some during yesterday's drop. Also TLT was telling to accumulate and ended the day with gravestone doji.
AllTH SPY chart - So. we are currently at Orange, dotted Green resistance lines. If we break next resistance is purple line 294.11, which is also approx 50 dsma. If broken has potential to go to 300 +/-. If rejected there are several support lines under (Orange, Green, Orange, blue, Purple) for potential bounce.
Do you also consider major MA's?
What charting program are you using?
Dorian - I think news and weather people make a big deal out of it, to attract viewers.
Last one Michael in 2018, news scared me to run to Orlando, which was worst than Tampa.
Congrats on achieving <200 lbs. How is sleep. EOM
Stopped out of rest (4)MES for 2882 from 2862, while away.
Total 4x20+31 in AM = 111 points = 555-7 commission = $548
Done for the day.
TLT & GLD broke out of tight bolli on 5 min and ES 5 & 15 min looks topped out for now.
There is a possibility of EOD run-up.
vpoc - Volume point of Control, i believe. Above vpoc and fighting at VAH-Value area high. A-D & Tick says probably more up.
Long MES trades this AM.
Buy 2860, 2861, 2854
Sell 2862, 2866, 2878
Total 31 MES points
Holding 4 more at 2862 from last few days of trading.
Thanks Jerry for your charts and commentary. I have only played long MES, everyday this month using 5 min & 15 min ES chart, A-D, $Tick, GLD & TLT, and your charts and commentary as guide and accumulated 400+ MES points.
Use system that works and follow until it does not.
TLT, GLD gave early warning starting in the morning. A-D from +ve to -ve another warning. $Tick all over place, with +1000 & -1000 giving false info today.
Big jump in JNJ after hours on Opiod lawsuit liability of $572M verdict. I guess that is chump change for JNJ. So, will help Dow tomorrow, unless overnight reversal.
Yep, they will use that -ve spread, when convenient. Does not look like today.
I think this fake carrot, is what is keeping the market afloat today, until next Tweet. A-D holding on to +1000 and Tick sideways.
From OM board.
"The futures market spiked on the talk of restarting trade talks, as well as the president's added contention that it is still possible the increased tariffs could be delayed and reports the president isn't inclined to declare a national emergency to force U.S. companies to stop doing business with China."
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=150758550
5 rounds of MES trades on LONG side since yesterday evening for 52 points. Using 5 min ES chart.
GLD peaked and coming down & TLT sideways, keeping me on LONG side for MES trades.
Thanks for VPOC info. VPOC held so far. Playing MES long for short bursts, using 5 min ES chart, since yesterday evening.
H&R MES trades. 2910 & 2905 to 2912 = 9 points.
Leaving lot on table. But hard to trade this quick swings successfully.
Thanks Jerry. What news feed are you using for
"fed bullard taking lower rates with eco data"
Don't waste your post now. Reply with later posting.
Which are VA lines? Dotted red & green, or thin solid red & green?
TLT has been on slow retreat for last 4 days. May be loosing hope for lower rates.
Powell speaks at 10am tomorrow, so open could be volatile and fireworks after 10 am.
With all the Fed comments about holding the line on rate reduction, the incentive for market to run up hard is not there.
Is Jerome speak tomorrow, going to be able to move the market one way or another?
Sold MES at 2924 from 2907. 17 peanuts, good enough. Out to lunch.
ES - Resistance at 2918. ON low, Wed RT low.
Long MES 2907. ES 5 & 15 below rsi 30. Left Bot BB. ES 5 min inverse Bart head. May have to add more if drops further.
GLD spike with Volume. News or liq brk up.
Chances are there may be no indication of Sep rate reduction at (JH)Jackson Hole, like Fed minutes yesterday. What will market do.
Stock, Bond, Gold just sideways. Hard to guage the direction after JH.
I thought that it was some fake news. Found another link shows time 1:41 pm. May be bad news is good news?
www.marketwatch.com/story/us-created-500000-fewer-jobs-since-2018-than-previously-reported-new-figures-show-2019-08-21
"US has half a million fewer jobs than believed after big government revision"
news.yahoo.com/us-half-million-fewer-jobs-194958111.html
If true why no affect on market?
Was out whole day so no trading.