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All indexes green. Wow
Buy when blood is on street came true
Thanks Nirvana for CPI forecast link. Good info.
Oct 13, 8:30 am is cpi. So, early dump on 10th?
IBD expects Friday's job report to lift market. That would be a tell.
https://www.investors.com/news/economy/why-friday-jobs-report-may-extend-this-sp-500-rally/
Bounce off VWAP
Seasonality wise Nov should be up. But CPI on Oct 13 can throw in a wrench, and then Fed rate on Nov 2, and then election.
https://charts.equityclock.com/sp-500-index-seasonal-chart
UN warns of recession risk, due to CB policies.
https://finance.yahoo.com/news/un-agency-warns-recession-linked-150508074.html
OT - Wind has picked up in Citrus Park (NW Tampa). Zoom Earth shows wind speed averaging around 35 mph, probably with much higher gust speed. Some of my potted plants have bent over completely. My neighbors old fence one end of a panel had come off and was ready to fall on our Dining Room window. Went and tied the top 2x4 end to 4x4 post using string. Hope it holds.
$ a huge drop helping
After open ES went down while Cum Tick (CT) kept on going up a divegence. The ES later followed the CT. CT 1 time framing up so far and ES following it with some consolidation in between.
3720-25 resistance. See if we can clear it
Do you loose power during hurricane?
I have been in Tampa, since 1968 and never lost power during hurricane.
Only loose power for few hours, once in a while, when transformer blows out.
Jerry,
I am not planning to leave. I am North of airport, near Citrus Mall.
Based on current path if it stays or even if it comes back I think I will see Cat 1 wind, which is not an issue. I am in flood Zone C, so fine there.
But if we loose power, I will go to my Brother's place in Wesley Chapel, or my son near USF, if they have power.
OT - IAN tracker with clear color coded picture.
https://zoom.earth/storms/ian-2022/
OT - Biggest issue is going to be coastal flooding. Right now there is mandatory evacuation for zone A. I am in zone C so ok
OT - I just filled up 1 car, second this afternoon. Have water filter, so will fill up containers and big bottles. Fill up Tub etc. Have propane stove in patio.
As long as it is below cat 3, my house will be ok. Cat 4 can be disaster.
Jerry - Are you prepared for IAN?
I put 1 min chart on Discord
$ on Tear. CumTick is oscillating +/- and so can't rely on it for now.
That is good news. Praying for quick recovery.
Cumulative Tick constantly rising so far. A/D +1000ish. So, chop with sideways/up bias
On the T-line video, need to also observe the direction of 8 EMA whether pointing up or down. I have been using 9 EMA as trigger, but I also keep the direction of 9 EMA in mind.
Interesting take on Tuesday's market rout.
https://finance.yahoo.com/news/3-2-trillion-option-expiration-165933841.html
CPI is Tuesday, Sep 13 at 8:30am. Possibly we keep on going up until then. After that, market may decide direction, may be even irrespective of what the cpi numbers are.
ES Closed over 50 dma. So, probably back test.
Here is a free version. It seems easy to build.
I wonder if he is using "ShadowTrader", "Cumulative Tick ThinkScript"
https://www.shadowtrader.net/cumulative_tick/
When you start on futures, start with MES (=1/10th ES) instead of ES to get the feet wet. Easy to get burned if not carefull as you have 18:1 leverage.
Try this link. Note that this index only updates at end of the day.
https://stockcharts.com/h-sc/ui?s=!MCOSIRSPX&p=D&yr=1&mn=0&dy=0&id=p64127404602&a=1228069013&listNum=1
May be because,Big guys are buying homes?
https://www.yahoo.com/video/jeff-bezos-backed-real-estate-151105046.html
ES wekness is due to NQ. RTY not as weak. Divergence?
Goog tomorrow after close
Adam Mancini- Trend change if we break 4025
After todays run off 3940 support zone in #ES_F, we are basing at 3985 resistance. 4000 then 4025 remain targets & its a *major* inflection zone
— Adam Mancini (@AdamMancini4) July 21, 2022
4025 is downtrend line from March high. Id expect initial dip there, but if it breaks after, its 1st evidence of a trend change/bottom https://t.co/nhQXV1tOK1
Do we fill SPX Jun 9-10 gap, approx 3980-4420 ?
ES 60min shows divergence, higher price, lower rsi. Also TL from May-Jun highs and TL from Mar-Apr highs are just above.
Bounced off VWAP several times, but the one that worked was after triangle break.
On 5 min ES broke 1 day triangle to upside around 1:30 (your fav I believe) and kept on going and did 5 wave up.
It broke 2 day TL on 5 min around 2:30
Roughly same thing happened to RTY & NQ
So, much for OPEX analysis. Went totally opposite to analysis
OPEX positioning seems to indicate higher prices in very short term per this analysis.
https://finance.yahoo.com/news/battered-stock-traders-brace-1-201500641.html
ES flag on 5 minute. Break out of flag per flag rule takes us to approximately 4040
Thanks Jerry. Great roadmap for shorting the bounce in weak market.
$TNX down today too, but not helping. Recession fear being used?