DrStool Posted October 6, 2020 Report Share Posted October 6, 2020 Get a load of this. Does it look bullish to you? Hourly bar chart. Well, I suppose it could be. The 5 day cycle projection could be 3410, or it could be 3430. Neither was reached. But the hourly momentum and cycle indicators have edged to the sell side. On the 30 minute bars you can see that the ES has dropped to the uptrend channel line at 3380 just after 4 AM in NY. That line rises to 3390 at the NY open. Break that line and they head for multiple possible support levels that could generate a bounce or act like butter against a hot knife 3378, 3373, 3365, and 3350. One of those will generate a bounce. Take your pick. I'm showing the indicators and parameters on this chart. It's a little cluttered, but if you want to set up a tracking chart using those parameters, feel free. I assume that everyone here has their own favorite charting platform. These are common indicators that can be set up in any of them, including most broker chart platforms that I've seen. Here's the 2 hour bar perspective. The negative divergences over the past week, with new downturns here now, are "interesting." But of course, they prove nothing. I come in this morning a tad short. I'll let you know whether I decide to go heavy long, heavy short, or heavy flat ASIK. Yesterday I furiously shorted the market at the open. By 10:30 I had a nice profit. I spent the rest of the day working diligently to dissipate that, setting out on one fishing expedition after another. I lost a few shekels every time. By 3 PM, I was successful in turning my profit into a loss for the day. But I continued to overtrade for the last hour, trading up to 7 stocks at a time. By the close I was successful in closing out all my losers, leaving just one short that had broken down. Woo hoo. I ended the day with a profit. $15. Not 15 points. $15. 😂😂😂 I should stick to analysis and writing. Those who can do, and those who can't teach. 😉 Link to comment Share on other sites More sharing options...
DrStool Posted October 6, 2020 Author Report Share Posted October 6, 2020 They're hanging on to that lower trendline. Mildly bullish now, but with the potential for a lower high/right shoulder nearing the NY open. My guess is that I will want to be heavily short soon after the bell, but we'll see how the next couple hours play out. Because I'm trading stocks, I'm not playing the pre-market. Too thin. One thing about the pandemic. I have too much time on my hands as I semi isolate. Idle hands are the devil's workshop. 😄 Link to comment Share on other sites More sharing options...
Jorma Posted October 6, 2020 Report Share Posted October 6, 2020 I'd think they might want to nip this up move in Treasury coupon rates in the bud. Link to comment Share on other sites More sharing options...
DrStool Posted October 6, 2020 Author Report Share Posted October 6, 2020 Starting to look like a runaway move. Watch 3403. If they clear that, next target 3412, then 3422 Link to comment Share on other sites More sharing options...
DrStool Posted October 6, 2020 Author Report Share Posted October 6, 2020 32 minutes ago, Jorma said: I'd think they might want to nip this up move in Treasury coupon rates in the bud. Oh, yeah! Right on the 200 Link to comment Share on other sites More sharing options...
DrStool Posted October 6, 2020 Author Report Share Posted October 6, 2020 Gold’s Constructive Consolidation 3 - GOLD TRADER OCTOBER 6, 2020 Here’s where to look for gold’s constructive consolidation to turn up. Meanwhile, I’ve added another pick to our list of miners. Subscribers, click here to download report. Try Lee Adler’s Gold Trader risk free for 90 days! Link to comment Share on other sites More sharing options...
DrStool Posted October 6, 2020 Author Report Share Posted October 6, 2020 5 day cycle projection 3460. Hey. I'm just a reporter. Link to comment Share on other sites More sharing options...
DrStool Posted October 6, 2020 Author Report Share Posted October 6, 2020 If Bonds Sell Off, Dealers are in Trouble and So Is the System 1 - LIQUIDITY TRADER OCTOBER 6, 2020 Primary dealers have maintained huge and heavily leveraged long bond positions. They are only lightly hedged. Just today, the bond market is threatening to reverse the long term downtrend in yields/uptrend in prices. It’s bad news for the bond market, and for the system as a whole. And that includes stocks. Subscribers, click here to download the report.` KNOW WHAT’S HAPPENING NOW, before the Street does, read Lee Adler’s Liquidity Trader risk free for 90 days! Act on real-time reality! Link to comment Share on other sites More sharing options...
DrStool Posted October 6, 2020 Author Report Share Posted October 6, 2020 Sell signals from negative divergences on hourly indicators. Uptrend slightly broken. Link to comment Share on other sites More sharing options...
DrStool Posted October 6, 2020 Author Report Share Posted October 6, 2020 If they take out 3408, next stop, 3422. Link to comment Share on other sites More sharing options...
DrStool Posted October 6, 2020 Author Report Share Posted October 6, 2020 5 day cycle projection firm at 3460. Link to comment Share on other sites More sharing options...
DrStool Posted October 6, 2020 Author Report Share Posted October 6, 2020 resistance level 3423. Trend resistance 3427. If they don't hold, 5 day cycle projection of 3460 is doable. Link to comment Share on other sites More sharing options...
DrStool Posted October 6, 2020 Author Report Share Posted October 6, 2020 WTF? All my longs sell orders just got triggered. Link to comment Share on other sites More sharing options...
DrStool Posted October 6, 2020 Author Report Share Posted October 6, 2020 Trump says No to stimulus, unless it's steroids. Link to comment Share on other sites More sharing options...
DrStool Posted October 6, 2020 Author Report Share Posted October 6, 2020 Wow. I had no shorts. Zero zilch nada. Everything looked great. Link to comment Share on other sites More sharing options...
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