DrStool Posted September 14, 2020 Report Share Posted September 14, 2020 Friday's low on the ES was a fraction higher than Tuesday's, but as of 5 AM in New York, they hadn't cleard Fridays high, and there's been a slight downtick from the test an hour ago. Hourly indicators are still bullish, but they've paused and a deeper downtick this hour could get them to roll over, signaling a 2 day cycle high in the pre market as well as potentially a final downdraft in the 5 day cycle. That cycle is ideally due for a low on Tuesday, but a low today is certainly also possible. If they hold above 3360 here, bulls are in charge. Even if they pull back to 3330, I think bulls would still have the upper hand. The Fed pumps in a ton of money today via the first of the usual monthly MBS settlements that happen in the middle of each month. Mr. Minus-chin Conspires With QE for September Happy Ending Link to comment Share on other sites More sharing options...
DrStool Posted September 14, 2020 Author Report Share Posted September 14, 2020 Boing. Link to comment Share on other sites More sharing options...
DrStool Posted September 14, 2020 Author Report Share Posted September 14, 2020 There's your higher high. Link to comment Share on other sites More sharing options...
DrStool Posted September 14, 2020 Author Report Share Posted September 14, 2020 I see that Affirm is in the business of POS Lending. I don't get it. Why would anyone lend on a piece of shit. They're everywhere. They get flushed. Where's the value? https://wallstreetexaminer.com/2020/09/the-highest-funded-fintech-startups-in-the-world/ Link to comment Share on other sites More sharing options...
DrStool Posted September 14, 2020 Author Report Share Posted September 14, 2020 2-3 day cycle projection 3415. Link to comment Share on other sites More sharing options...
DrStool Posted September 14, 2020 Author Report Share Posted September 14, 2020 Resistance 3393-96. Link to comment Share on other sites More sharing options...
DrStool Posted September 14, 2020 Author Report Share Posted September 14, 2020 Quelle est la raison du jour? Link to comment Share on other sites More sharing options...
DrStool Posted September 14, 2020 Author Report Share Posted September 14, 2020 Scrolling through my Twitter feed, nobody talking about the rally. Except the dictator. Bullish. Link to comment Share on other sites More sharing options...
DrStool Posted September 14, 2020 Author Report Share Posted September 14, 2020 Marketwatch says "vaccine optimism." To Bloomberg it's "deals optimism." WSJ says it's the Oracle Tiktok deal. Fuckers have no fucking clue. It's MBS settlement day. Link to comment Share on other sites More sharing options...
PullMyFinger Posted September 14, 2020 Report Share Posted September 14, 2020 3 minutes ago, DrStool said: Quelle est la raison du jour? OK, I'll play. Either Oracle winning the Tik Tok sweepstakes, or perhaps because Dave is watching? https://www.barstoolsports.com/blog/2859754/a-warning-to-the-suits-im-watching-today.-dont-pull-anything-funny-and-try-to-start-selling. I curse whoever brought attention to the Davey Day Trader Global the other day. Now, I can't look away. On the other hand, this forum generously provides me with a platform to say stupid things too, so I guess Dave and I have something in common after all. 🤡 Link to comment Share on other sites More sharing options...
DrStool Posted September 14, 2020 Author Report Share Posted September 14, 2020 Beware the channel. Link to comment Share on other sites More sharing options...
fxfox Posted September 14, 2020 Report Share Posted September 14, 2020 EMA 200 hourly serves as good res so far. Once cleared, kaboom to the upside. Remember: The MBS dough isn‘t always put to work at the first day entirely. This looks more and more like a bottom building process. Somehow the bear narrative seems to be that we already made a major top in go down from September on. Based on EW stuff or wottnot. Thing is: Since 2009 EVERY technical stuff, which is partly from the voodoo department, got killed and doesn‘t really work anymore. We will make a new ATH before the election. Link to comment Share on other sites More sharing options...
DrStool Posted September 14, 2020 Author Report Share Posted September 14, 2020 I don't know about that. TA keeps me on the right side of the market most of the time. Trend following has worked really well. I don't need to be early at a top. I need to see clear and convincing evidence, and then take a ride for most of the move. Link to comment Share on other sites More sharing options...
fxfox Posted September 14, 2020 Report Share Posted September 14, 2020 6 minutes ago, DrStool said: I don't know about that. TA keeps me on the right side of the market most of the time. Trend following has worked really well. I don't need to be early at a top. I need to see clear and convincing evidence, and then take a ride for most of the move. Your stuff seems to work quite well, but many other TA things which used to work before 2009 don‘t work anymore. Has to do with those hard and quick momentum crashes. Charts get effed up so to say. Link to comment Share on other sites More sharing options...
DrStool Posted September 14, 2020 Author Report Share Posted September 14, 2020 Can't be rigid. It's always about looking at multiple time frames with indicators and moving averages timed to those periods. RIgidly sticking to one set of numbers is bound to fail. Although it can work if you zoom in and out using hourly, daily, weekly, monthly. No doubt there are surprises, but it still works more often than not. In addition, liquidity analysis is necessary for context. Link to comment Share on other sites More sharing options...
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