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Tuesday,7th of May.

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  • Tuesday,7th of May.

    Futures are down 1%,oil is down 1%,gold is flat. .. ES bounces to daily 10ma overnight then back down to 2904.... if. It supported here, see 2892-2896, below 2892 is 2884 2866... if supported here, back to 2916-2921 range..if not supported at 2904, down more and possible to see 2866

  • #2
    U.S. - China trade war rumors are buffeting the market. Support today is at 2910. If it fails then a drop into the 2862-75 range will probably follow. If 2910 does hold as I expect then the ES will be headed back to 2961.Carl Futia.

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    • #3
      Futia:

      http://carlfutia.blogspot.com/

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      • #4
        Fear & greed:

        https://money.cnn.com/data/fear-and-greed/

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        • #5
          A current Bitcoin price:

          https://www.google.com/search?q=bitc...hrome&ie=UTF-8

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          • #6
            Adam Mancini‏ @AdamMancini4
            FollowingFollowing @AdamMancini4

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            Bonds $TLT to $SPX Ratio 5 year view: This ratio rallied last Fall as bonds soared during the $SPX sell-off, but has spent 2019 in decline as bonds under-perform. This looks set to change - the ratio has put in a falling wedge all year which points to bond out-performance ahead

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            • #7
              Chinese revenue exposure:

              https://twitter.com/JorelLaraKalel/s...37464788922369

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              • #8
                Oil:

                https://twitter.com/AdamMancini4/sta...75882662027265

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                • #9
                  Yen is up pretty decently since the Fed. Commodities (GCC) OTOH have gotten absolutely hammered. One of them isn't telling the truth, IMO. If I had to guess, it would be GCC, which I believe is setting the stage for a very significant low this week (or next). Of course I am biased, and if I am wrong, and GCC continues to tank for weeks or months more, the miners are going to probably fall apart eventually.
                  Last edited by Spanky; 05-07-2019, 11:28 AM.

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                  • #10
                    Spy just absolutely chaos..... large orders from both sides throwing in..... bulls or bears, just clueless animals at this point.....Miners are picking UP steam

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                    • #11
                      SPX:

                      https://twitter.com/AdamMancini4/sta...79990774263810

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                      • #12
                        Silver:

                        https://twitter.com/AdamMancini4/sta...96521600065536

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                        • #13
                          HL's weekly stochastics havent hit overbought levels in 2.5 years. That is completely nuts.

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                          • #14
                            The yen ($XJY) has the same problem as commodities, which is that it has a flat topped cloud acting as resistance on the weekly chart. Could it blow through that resistance before the end of the year? It's possible, but that type of a move is exceedingly rare.

                            A QE4 announcement by the Fed could probably do it. But short of that, I think the yen could be stuck moving sideways to down once the top of that cloud is encountered. The top of the cloud will taper off lower in September, and that would be the first realistic opportunity for the yen to break through.

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                            • #15
                              More oil:

                              http://dragonflycap.com/critical-juncture-for-oil/

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                              • #16
                                The potential H&S on GDX is disgustingly obvious. All it will take is a rally to the rapidly declining 50 dma to build out a right shoulder. The miners love H&S. We haven't seen a proper pennant consolidation, e.g., in YEARS.

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                                • #17
                                  And more oil:

                                  https://twitter.com/ThinkTankCharts/...76163475501056

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                                  • #18
                                    Poly:

                                    https://twitter.com/BobLoukas

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                                    • #19
                                      While the HUI could rally up to the 170 level, I have my serious doubts about whether it can get through that level before late summer. I think it is more than likely dead money until then. I could be wrong on this, but I think the more realistic scenario is a frustrating sideways to down grind.

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                                      • #20
                                        Here's my guess on what the HUI does between now and the fall. Mind you, this is complete speculation, and I am biased long. This is basically a pure guess. For all I know, the HUI blows through 170 this week.

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                                        • #21
                                          #Biotech Weekly: $IBB dead cat bounce came a bit early but looks like itís already over. Massive red inverted hammer rejection of all three 13/50MA/BC. Red circle is absolutely in play and honestly may get there by the summer. 13/50MA crossed bearish as did 13MA/BC #IBB $XBI

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                                          • #22
                                            #Biotech Daily: $IBB extended the bear flag a few more days but the outcome still looks the same. This is setting up a potentially brutal flush if yellow support fails tomorrow. The weekly looks hideous as well. Sharply falling Upper BB is also a bearish omen #IBB $XBI #XBI

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                                            • #23
                                              #Boeing Daily: $BA literally just 1 day later.... MACD/Stochs donít lie... theyíve been forecasting this drop (magenta support failure) for almost a week. The pain isnít over for Boeing, if bad news continues, could retreat all the way back to Blue TL #BA #Dow #737MAX $boeing

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                                              • #24
                                                $SPX Daily: #SPX does not get more textbook than this Amazing how many were calling for permanent melt up right at Wave 5 top. Properly customized MACD/Stochs are almost always right, just have to be patient & give them time to play out 50MA next... $ES #SP500 #Stocks #Economy

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                                                • #25
                                                  Daily #NASDAQ : $COMPQ
                                                  Wave 5 is definitely over
                                                  . My MACD/Stochs called it to a T. 50MA is right at orange TL so possible DCB / VIX lull can happen around that area ... #NDX #NQ $NDX $NQ

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                                                  • #26
                                                    VIX:

                                                    https://twitter.com/AdamMancini4/sta...12838600253440

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                                                    • #27
                                                      Daily $TNX : 10YR #Treasury #Bonds yields are imploding. Looks like new lows are on the way soon. Expecting new touch of magenta TL at least once more. Lower BB curling down hard opening up for more potential downside quickly. $ZN #TLT #bond #yields #USD #TNX

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                                                      • #28
                                                        here's one worth watching.

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                                                        • #29
                                                          Daily $RUT : #SmallCaps finished false breakout above 1600 (orange TL) and has since retreated back below both 13MA & BC. MACD/Stochs indicating it wants to retreat back to magenta supports. With Lower BB much lower expect a purple backtest at a minimum soon $IWM #IWM #RUT

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                                                          • #30
                                                            #Dow Daily: $DOW bullish impulse happened. Been a while since I updated this one. But itís clearly peaking here. Back to blue TL as support backtest. Downside probably done for today now that itís here; but MACD/Stochs indicate more downside coming soon #economy #DowJones $INDU

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                                                            • #31
                                                              GCC (unweighted commodities index) is setting up for a large V-bounce, potentially, based on the 5 day RSI.

                                                              In most cases, when the 5 day RSI got so oversold for such a long period of time, it was followed by a V-shaped bounce. Now, that being said, it's possible GCC is setting up similar to June of last year, where the 5 day RSI was similarly oversold but GCC continued to plummet nearly straight down for another 2 months, doing MASSIVE damage to the chart.

                                                              This is going to play out either one of those ways--two diametrically opposed outcomes from this point forward.

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                                                              • #32
                                                                Mystery Trader:

                                                                https://twitter.com/MysteryTrader99

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                                                                • #33


                                                                  $VIX Daily: #VIX exploding higher. VIX lull barely lasted an afternoon before next thrust higher. Thx to HFTs these moves are happening so much faster than before. There will be some kind of DCB in market within the next few days but it wonít last long #volatility $TVIX #TVIX

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                                                                  • #34
                                                                    If GCC is red tomorrow, I would contemplate going long on options tomorrow. It is getting to extreme levels.

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                                                                    • #35
                                                                      SPX:

                                                                      https://twitter.com/PuffDragon11/sta...99740480815109

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                                                                      • #36
                                                                        Hurst cycles:

                                                                        https://twitter.com/SentientTrader/s...45637403217920

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                                                                        • #37
                                                                          NYMO:

                                                                          https://stockcharts.com/freecharts/gallery.html?%24NYMO

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                                                                          • #38
                                                                            NAMO:

                                                                            https://stockcharts.com/freecharts/gallery.html?%24NAMO

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                                                                            • #39
                                                                              Bitcoin:

                                                                              https://stockcharts.com/freecharts/g....html?%24NYXBT

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                                                                              • #40
                                                                                Transports:

                                                                                https://www.seeitmarket.com/are-dow-...ers-top-19301/

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                                                                                • #41
                                                                                  Stocks:

                                                                                  https://kimblechartingsolutions.com/...al-resistance/

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                                                                                  • #42
                                                                                    Spanky nice to see you back. Will be adding more silver here.

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                                                                                    • #43
                                                                                      SPX:

                                                                                      https://likesmoneycycletrading.wordpress.com/

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                                                                                      • #44
                                                                                        $SOX:

                                                                                        https://twitter.com/MysteryTrader99/...48594467164160

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                                                                                        • #45
                                                                                          NASDAQ:

                                                                                          https://twitter.com/MysteryTrader99/...96313575063552

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                                                                                          • #46
                                                                                            SPY:

                                                                                            https://twitter.com/jfahmy/status/1125790658680229888

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                                                                                            • #47
                                                                                              More SPX:

                                                                                              https://twitter.com/AdamMancini4/sta...64145830780929

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