9/22s – 2177, 46.10, 1341, 19.98, 11.84, 95.35, 1.625%
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 2171/2187/2119/2164 hi: 2187 lo: 2119
Break of 60 min SPY triangle to upside. Test of highs on deck? Todays gap up reversing the prior gap down leaving an island bottom on the SPY 60 minute (reversal of a reversal). Don’t you just love how the CB’s, Fed and DaBoyz paint! Seems everything is in place for the manipulators to move this higher until the election. Was that it for the Fall fall? Not sure I would stand in the way of the Fed/CB print train and the push higher to swing the election for Hillbilly. Yes, we must have a women President one day, too bad it is not someone with ethics. Wild card is the debate Monday evening; will the Don keep his cool and play one from the Gipper? I took GILD out of Go Fish to remove the hex. Could add DBC which has a trendline break with a backtest in progress, but don’t want to jinx that either. TWTR still there if you’re feeling lucky, but weekly Stoch still in down cycle; with RBC downgrade after hours smacking stock lower; too bad I went for the twitching worm. on what looked like a break above the 13/34 bowtie yesterday morning. Piggies are a no go in this tape, that is not good but how can it be with the Fed’s boot on rates. One day there will be a price to pay for this nonsense, but until then Party On Dude! IWM says da bears have no game; push higher will continue price and PMO divergence but who cares, we really trade or invest price not PMO. Metropolis is smoking for those who have been following, and Dad could not be more proud of his son the Chef. My wish for all is you live long enough to see your children do well and be successful at their craft, that is a blessing. Only the close matters, rest is algos pushing the tape around in a stop hunt.
7:50 – ES 2164, 46.20, 1342, 19.93, 12.43, 95.36, 1.612% Dax -0.3%
10 – 2170, 46.21, 1342, 19.89, 12.22, 95.48, 1.627% twtr talk, out 22.34 fwiw
2:10 – 2166, 44.52, 1340, 19.70, 12.50, 95.37, 1.615%
S – 2164, 44.73, 1341, 19.75, 12.15, 95.40, 1.622%
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.