9/29s – 2151, 47.74, 1323, 19.15, 14.12, 95.42, 1.558%
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 2171/2187/2119/2151 hi: 2187 lo: 2119
SPX has turned the monthly down, with a lower low and lower high for the month. today’s monthly/quarterly close matter the most. The powers that be have an incentive to maintain the sideways/upward pattern into the US election; ditto Europe. DaBoyz got a little help from Opec Wednesday afternoon, will production quotas matter? Did short term as energy stocks lift the indexes back to monthly opening print for a day or so until the next DB headline of massive hedge fund withdraws hit the tape. Is DB the “black swan” event of 2016? Usual dog and pony show with WFC chief Stumpf before the House and the politicos spouting off; Warren silent – probably busy buying all the WFC everyone else is dumping – “buy when there is blood in the streets”, question is … red enough? October has a bad track record if you are long, watch and wait, powder dry…seems to these eyes heavy liquidation in Rx names last few days, opportunity? Felix Oscar Holmes Athena Jeff
7 – ES 2148, 47.48, 1329, 19.42, 14.34, 95.77, 1.545%
9:55 – 2159, 47.79, 1326, 19.55, 13.76, 95.45, 1.563% A/D 17:9, 14:9
10:45 – 2162, 48.20, 1325, 19.40, 13.62, 95.40, 1.575% strong DB bounce
1:55 – 2170, 48.10, 1318, 19.23, 12.98, 95.42, 1.601%
S – 2168, 48.03, 1320, 19.23, 12.78, 95.44, 1.600% Sell RH 10.3, buy YK 10.12?
GL flag and holding under SAR buy 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.