nice recovery off the low for sure. but still below that 2800 once again. this will be such an interesting week. curious if we can get back to about flat by week's end. otherwise that'll look pretty ominous on the charts (at least the weekly chart). would be a "look above and fail" imo. we shall see!
Looks like the news is pinning this on Trump bashing the FED: https://www.ccn.com/dow-plunges-below-26000-after-donald-trump-bashes-fed “We have a gentleman that loves quantitative tightening in the Fed,” Trump told a Conservative Political Action Conference on Saturday. “We have a gentleman that likes a very strong dollar in the Fed. So with all of those things — we want a strong dollar but let’s be reasonable — with all of that, we’re doing great. Can you imagine if we left interest rates where they were? If we didn’t do quantitative tightening? I want a dollar that’s great for our country but not a dollar that’s prohibitive for us to be doing business with other countries.”
Good Tuesday morning to all. Here is this morning's pre-market news thread for those of you wanting to get a quick read before today's open- <-- click there to read! Hope everyone has a great trading day ahead today.
Morning Lineup – Better Than Expected Data in Europe; Breadth Still Positive Mar 5, 2019 We’ve seen some better than expected economic data out of Europe for a change this morning as PMIs for the Services sector mostly came in better than expected. US equity futures are pointing to a slightly higher open after yesterday’s weakness. In Asia, China lowered 2019 GDP growth forecasts and President Trump is threatening to end preferential trade treatment for India and Turkey. We’ve been discussing the market’s strong breadth so far in 2019 for several weeks now, but today we wanted to provide another illustration of it. The S&P 500’s 10-Day A/D line typically oscillates between positive and negative territory on what is usually a week to week basis or at least every couple of weeks to weeks. Lately, though, it has been all positive. Through yesterday’s close, the 10-Day A/D had been positive for 39 straight trading days. That’s over eight weeks in calendar days! These kinds of periods of consistent positive breadth don’t typically happen very often. Going back to 1990, there have only been four other periods where the 10-day A/D line was positive for longer than it has been now.
SMH recovered today, still waiting for a resolution here Dow Transports with 9th red candle in a row, lost all of ~2.5%.
FDA chief Gottlieb resigns as agency battles teen vaping, opioid crisis https://www.cnbc.com/2019/03/05/fda-commissioner-scott-gottlieb-is-resigning.html
Looks like XXII down -25% on that news too. What's up with that? And what happened to the general market in the last 15 minutes?
I'm seeing lots of Inverse ETFs (S&P/Small Caps/tech) up to short term resistance. UVXY/VXXB also looking to push against short term resistance. Lets see how the next couple days play out. Might be seeing a turn here in the short term... finally. I've been looking for at least a small pullback since January - market has been on some steroids so far this year.
Good Wednesday morning to all. Here is this morning's pre-market news thread for those of you wanting to get a quick read before today's open- <-- click there to read! Hope everyone has a good trading day ahead today.
Morning Lineup – Tell Us Something We Don’t Know Mar 6, 2019 ADP Private Payrolls for February were just released and came in slightly weaker than expected at 183K versus estimates for a reading of 190K. Futures are indicated modestly lower but are near their overnight highs, while oil is down and the dollar is on pace for its 6th straight positive day. One of the events getting some headlines this morning is the fact that the OECD has lowered global growth forecasts for both 2019 and 2020. Reasons behind the downgrade include trade disputes and uncertainty over Brexit. Is this really newsworthy? After all, it’s not as if any of these headwinds are anything new. The fact is that economic data around the world has been underwhelming for some time now. Check out the chart below of the Citi Economic Surprise Index for G10 economies. At a level of -34.10, it is currently just off what were its worst levels since 2012.
happy anniversary to the bull market today. exactly 1 decade ago today the spx printed a low of 666.79 i had uploaded a cnbc closing bell clip on youtube years ago, and always used to post it in here on every anniversary...however unfortunately youtube recently terminated my account with the hundreds of videos i had uploaded over the years i still have the videos on vhs tape and could upload again, but admittedly am a bit fearful that youtube will again terminate the account. anyone know of any good video uploading site like youtube that isn't so f'n anal about copyright shit etc.? anyway, happy 10 year anniversary to the bull today! side note: it's worth noting that we came within literally -0.22% away from ending the bull market back in december when the SPX fell -19.78% from peak to trough (on a closing basis). yes, it did actually cross the -20% threshold "intraday" but typically is only significant on a closing basis.
TZA has jumped over the resistance I drew - just waiting for close confirmation. Might be jumping on some TNA puts.
I use www.vimeo.com to upload my short film productions. But that is all original stuff and no copyright issues. Go there and look around. Might work for you.
nice thanks @emmett kelly! i'll take a look momentarily. meanwhile i just went ahead and uploaded to youtube again and set it as "unlisted" this time around. will post to here just as soon as it is done uploading. really curious to see if you guys can view it.
