9/20s – 2139, 44.11, 1318, 19.29, 15.50, 95.95, 1.689%
April SPX monthly 2056/2111/2033/2065 hi: 2111 lo: 2033
May SPX monthly 2067/2103/2025/2096 hi: 2103 lo: 2025
June SPX monthly 2093/2120/1991/2098 hi: 2120 lo: 1991
July SPX monthly 2099/2177/2074/2175 hi: 2177 lo: 2074
Aug SPX monthly 2173/2193/2147/2170 hi: 2193 lo: 2147
Sept SPX monthly 2171/2187/2119/2139 hi: 2187 lo: 2119
Fedspeak – doubt any action prior to election; “data dependent”, we don’t want to sink economy or HRC. Fed too scared of huge US debt to ever raise rates until the market does it for them and that could be a ways off with all CB’s trying to go negative and print. Possible triple bottom triangle formation on SPY 60 min; TJ would say the market is winding up for the pitch. Daily looks like test of 212 support (2120 on SPX), but still holding below the break down level and island top. SPX 2100 trendline support. Lot of index ETF charts with PMO crosses to downside and SAR sell signals on the daily; IWM looks strongest still holding above EMA34 while DIA and SPY are below, best SCTR also. UNG breaking out above $3 but gas stocks reluctant to follow. Volatility tends to get sold after news, if it does not, that is a tell. Sure hope adding GILD back to the Go Fish section does not jinx this, but COPP buy on heavy vol yesterday, last couple went no where fwiw.
7:05 – ES 2140, 44.99, 1323, 19.50, 15.24, 95.94, 1.693% waiting for Queen B, nada new
9:45 – 2148, 44.91, 1328, 19.67, 15.21, 95.81, 1.698%
10 – 2150, 44.83, 1329, 19.72, 14.69, 95.88, 1.696% vix getting sold
11:35 – 2145, 45.21, 1330, 19.82, 14.85, 95.85, 1.708%
1:20 – 2142, 45.13, 1330, 19.75, 15.21, 95.80, 1.698%
2:45 – 2152, 45.35, 1333, 19.81, 14.55, 95.71, 1.675%
S – 2163, 45.58, 1337, 19.90, 13.15, 95.50, 1.656% vix smoked consistent with higher
Looking for an ABC for W2, which we now have. Weekly Silver tagged the 61.8 retracement. What’s next? Robert Cote
50/200 SMA cross: Buy when the seven-month seasonal pattern is bullish and the 50-day SMA is above the 200-day SMA. Sell when the seven-month seasonal pattern is bearish and the 50-day SMA is below the 200-day SMA.
3 bar reversal candlestick pattern – “At a trading top, it will look like this: Bar #1 is an up bar. Bar #2 is a down bar, and the high of Bar #2 is higher than the close of Bar #1. Bar #3 is a down bar, and the close of Bar #3 is lower than the open of Bar #1. The inverse occurs at trading bottoms. These can also occur in the middle of a trending move, after a counter trend wave is complete, and when that happens, it’s signaling the continuation of the current trend. This pattern occurs on all time frames, but I have found that the hourly gives the best risk/reward setup. At a trading top, the trading strategy is to go short at the close of Bar #3, and place a stop one tick above the high of Bar #2.” AAH Michael
Larry Conner’s trading model: P> 200 DMA, buy close when RSI(2) <5, sell P> 5 DMA.
EMA cross: “Take a position when the 13/34 EMA crosses on the 15, then another on the 1 hour, finally, fully positioned on the 2 hour. When in doubt, I wait for the daily. Create a disciplined system and stick with it, adjusting as needed along the way.” B Seagle
Trader Joe X Wave:
TJ Diagonals: If you see a little “Contracting Leading Diagonal” at the beginning of the wave? That tells you “something very powerful is ahead”. But if you don’t care to learn the five simple patterns, you will never discover the power of the wave following. Diagonals happen because the market is “winding up for the pitch”. It has to “gather energy” to pop! And we all know what follows that wave!
Gary Smith 1-2-3-4 set up: new high consolidate for three days, buy day four over day three high.
Coppock Curve – designed by the late E.S. Coppock, to identify major lows. The signal he developed was to wait for the indicator to fall below zero and then turn up; other than that, he concluded that the indicator was of little use. M Pring
“It is a cardinal principal of stock manipulation to put up a stock in order to sell it.” JL
“Speculation is observation” Jeff Cooper
“See both sides, opportunity is more easily made up than losses” Todd Harrison
All content for education, not trading advice; do your own due diligence. FD – may have positions in securities mentioned.