The spike this morning is going to possibly set a nice divergence. Just like yesterday, picking a time to short will be dangerous and hard to do. Staying long after the first drop may be the play of the day. All of that means nothing though as we have to see and do what the charts tell us to.
BRK.A gets a downgrade - WOW!
Economic Calendar - Natgas at 10:30 and petrol at 11 sprinkled in on a big news day.
TZA got reverse split. That is so sad.
Earnings gets rolling next week.
Minis 4hr chart - Hard to see, but living outside VWAP bands is never good. Pushing upper BB up is always aggressive. Completing 50% retrace and 61% is near 81. Green TL may be what it is after. It will at least pause there, if not it will put a massive spike thru it. Indicators getting a little tired here but still have room to run.
The breakout Tuesday was real. The VWAP and 20ma are near 34, so price is running away right now. The vwap will eventually bring the market back to reality. Remember this is now a manipulated, news driven rigged market and anything can happen.
No plays at the open as usual. I'll digest till a play presents its self. It it pretty overbought NT, but that means nothing.
ReplyDeleteTest 1-2
ReplyDeleteLooks like QID will be the new fav as TZA got to pricey and it is not gonna be chartable for a while till they get price adjusted.
ReplyDeleteDid not give clear short entry this am thought he 1m had divergences going into the open and minis price was trading above upper vwap band. At this time I'm a little confused cause we're NT really overbought and should correct to the vwap which is near 45. BUT this market is manipulated and momo is with the bulls. Gonna stick with the 30m chart as a compass and the 1m charts for timing entries.
ReplyDeleteQ's 30m set divergence at the open this AM and look like they may be turning, so QID will be on the menu soon I think. 15m headed south as well.
ReplyDeleteNot sure if I like this entry as the 1 and 5m are battling their upper BB's, so I will wait.
1071.25 on spx. Get ready. Sorry uber busy at work but I'll post more soon
ReplyDeleteMissed QID entry near 55 while answering Rich's posts on the blog. Crap.
ReplyDeleteThe tide has turned - near term. Let's see what the PPT has in store and how far this corrective can go. 48 is a possible target. VWAP on the minis is near 37, but that will rise, so maybe 43 there (that is the 38% retracement).
ReplyDeleteI don't know what to make of rut chart. Looks corrective.
ReplyDeleteScratch that. It's on!!
ReplyDeleteRUT got nice reversal candle on 30m but the MACD has nor put in the bear cross, I'd tread with caution just in case.
ReplyDeleteRUT possible 608 to 604 target. Problem is that is another huge move. Maybe the seas are gonna start throwing some serious swales at the boat. That is OK if we time them right.
ReplyDeleteanother possibility looking at RUT is that this is a 4 corrective and there is still a 5 up to come. That still works with above targets.
ReplyDeleteIf four much bigger than two
ReplyDeleteMan don't know. Hell I need to see how many shares I have. Fucking reverse splits.
ReplyDeleteGap closed -
ReplyDeleteAlmost time to switch teams for a corrective pop up and then it should resume down. Very dangerous play esp at lunch, so I will not participate. Looking for better short entry later today. ST charts do not look good.
ReplyDeleteWe may have a ld on our hands
ReplyDeletePossible, but I'm not sure. the 60m and under charts say more weakness to come. It all depends on the PPT and what they can bring. All news is bad (duh). Problem is still ovebought. Best case scenario is that the divergences from this morning hold second best case is that it pops and sets even stronger divergence (I don't see that but will not rule it out).
ReplyDeleteLooking at DE's count he's got 3 of 3 coming soon, I can't argue with that. It sets up nicely with a bad earnings season. Not sure what K has.
CPC and NYMO not a buy yet. Both need to reach extremes and so the downtrend may continue here. We need extremes. Earnings/manipulation still messing with my head causing doubt.
ReplyDeletehttp://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID3186525&cmd=show[s161053055]&disp=P
Dunno haven't hit any blogs today. Coworkers father had a stroke so I've been busy
ReplyDeleteMan. Macd on 30 min tza is fucked up vs hist
ReplyDeleteRut is acting like a triangle but doesn't count as one.
ReplyDeleteRut 60 min says sell
ReplyDeletePost something so I can see if it sends to my email.
ReplyDeleteOk. I can count a 1-2 off the top on rut but I don't like the looks of it if we are starting minute 3 of minor 3. Should be much more violent
ReplyDeleteRUT 30m MACD just now getting bear cross and hist went negative.
ReplyDeleteAh the EOD ramp job. What a shitty day with horrible since 11 this AM. Must be time to power thru all the ST negative indicators and rocket on up.
ReplyDeleteTempted to spit in Superman's face and take a shot at a short here QID is the target. Still letting price settle. 71 now but 1m S Sto looks weak so may shop lower. I'll let you know if I do something.
ReplyDeleteThis counts for shit. I mean really bad. Gonna see what k and Dan put on it tonight. Back to work here. Nothing to see here move along
ReplyDelete