November will go down as one of the no dip months thanks to "NOT QE4" and "China REALLY wants to make a deal" as we closed off lowered guidance Q3 earnings beat/in-line reports and produced new ATHs on familiar names like AAPL, MSFT (the two which combined are higher market cap than the entire German DAX and also the Russell 2000), JPM, TGT, LULU, GOOGL, WMT and some new 2yr/10yr Highs on names like JD, BAC and even AMD. [...]
Algo Day to kick off the shortened week... This is the S&P 500 since "Not QE 4" began in early OCT: Instagram 👍 Facebook 👍 With the Algo Day (when you are dead flat and suddenly, at the opening bell, the market shoots upward and then goes nowhere for the rest of the session until the final 30mins), its CONFIRMED the suspicion that Scenario #1 for this fractional dip we got which did FAIL so far to complete (-36.23p then + to the [...]
So FUTURES gapped up at the start of Sunday night trading and have done ABSOLUTELY NOTHING all night and morning besides semi-assure that the unfilled gap on SPX @ 3120.18 gets filled. You want to know 2 things: SPX 3 CLOSES FRI-MON-TUES last week are 3120.46, 3122.03, 3120.18 SPX NEW GAP (#7) to Friday's close is 3110.29 It's HIGHLY POSSIBLE wave-iv of 3 of V completed with the -36.23p drop last week and a close above 3122.03 would strongly suggest such and [...]
We went into last week having perfected a BEARISH C = A when SPX 3121 connected (if you are looking at JUN 3 to Now as a possible A-B-C Bear Rally), and the plan was for TWO scenarios: continue upward to 3127 - 3141 with 3132.40 the sweet spot which will need to see 3124 break and be supportive followed by a weak, single gap filling of the 1 of 7 made Friday @ 3097 (with some allowance for 3083 and maybe [...]
Since we mentioned CRUDE yesterday, we'll mention how it broke 58.12 resistance and hasn't broken below it despite Overbought 1-2--4-6Hr time frames as it neared pre-Syria attack highs into the 2:30PM close yesterday 58.12 will need to break and resist to expect to see 57.48 and then evaluated for the ping-pong play back to 56.65 TSLA 340.14 IS HERE Charts were ready and the GIFT of 360.50, not once, but twice, looked great the 1st play back to 349.51, [...]
Firstly, CRUDE FUTURES traders have had an AMAZING week with the clean rejection off the unseen for months 58.12 through 57.48; through 56.65; to and then through 55.55 - 55.24 for the quick stop out of longs to bounce back yesterday from sub 55.24 to 57.48 and now back to 56.65. The ping pong play on my pivots on /CL are sick sick sick when you consider that's $10.00 for every 0.01 move: 2.88 down from 58.12 to 55.24 [...]
Yesterday's 3rd consecutive new ATH on SPX and 3rd consecutive close @ 3120.xx produced the LARGEST Open-Close drop (-7.27p) since OCT 30 (-9.34p) and AGAIN proved that 3113 intraday. Overnight, the rug has begun pulling some with /ES 3108 busted and VIX 13.39 ahead of the EU Open after TRUMP did what was needed: made the BLAME for a pullback by mentioning CHINA NO TRADE DEAL. The Senate's UNANIMOUS passing of the Honk Kong bill has not and will not [...]
Another mini-gap up which could be an 8th unfiiled gap which we almost had heading into Monday until that CHINA WANTS TARIFFS REMOVED FOR A DEAL headline came out and we wound up gapping down. As is when you drop soap in prison, no vaseline was needed to fill that gap above and you saw the BRUTE STRENGTH of SPX 3113 prove itself as we had 3083 last week and 3077.46 prior to that. SPX 10day There's NOTHING to add [...]
Phase 1 The pump has been ongoing about this quasi agreement to buy pork and beans for months (JAN 18 2019) and, despite the deal said to be signed this weekend in Chile (which was cancelled), all they did was talk on the phone Saturday, but it allowed for the standard Friday algo we're getting used to for the gap up and +20 daily move for a close on the ATH (just like JAN 26, 2018). It's actually been playing [...]
First know that Former Sec State Kissinger says expects a US-China trade deal With that out of the way, YM/ES/NQ popped to, once again fractional, new ATHs last night after the tongue twisted advisor to Trump, Larry Kudlow, who couldn't put 3 words together 4 days ago when asked about the due to be done Phase 1 fake trade deal was headlined stating: White House Kudlow says we are getting close to a trade deal with China BUY EVERYTHING Kudlow says cause [...]
