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Stock Market Daily Discussion for May 2nd - 6th

Discussion in 'Stock Market Today' started by StockJock-e, Apr 30, 2016.

  1. MaximusAnalysis

    MaximusAnalysis Active Member

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    Not in a bear market yet.....Will try to post something tomorrow giving my line in the sand.
     
  2. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    HLF surging after hours :eek:
     
  3. Talon

    Talon Member

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    Still holding firm in this dumb trading range for years now.

    The real question is, where does this thing go if it breaks 1800? I don't see any juicy looking support until the 2007 highs around 1600.

    Chart.jpg
     
    OldFart likes this.
  4. anotherdevilsadvocate

    anotherdevilsadvocate Well-Known Member

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    Think IBB (biotech) will have to reverse tomorrow; but after-hours today it will be a little more in the hole thanks to ENDP tanking.
    [​IMG]
    Doji today, below last moving average support and MACD momentum hit negative territory.

    FFTY (based on IBD 50) never broke its downtrend, while others like IWM (small caps) did.
    [​IMG]
    Now FFTY is below its last moving average support (like many stocks -- AAPL, SBUX, GOOGL, etc) and MACD momentum has hit negative territory.

    I bring up FFTY because it had great correlation with IWM
    [​IMG]

    IWM though still has 50 sma support and positive MACD momentum. And ultimately if SPX stays above 2027 then the markets will be ready for takeoff (http://stockaholics.net/threads/general-futures-discussion.515/#post-5443)
     
  5. LloydWCoutee

    LloydWCoutee Active Member

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    $SPY The charts are bearish. Fell below its 50dma for the first time this week since the beginning of march. Don't have a bias trade trends
     
    OldFart likes this.
  6. surfsup

    surfsup Active Member

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    Global markets are turning downward. Was going to post yesterday but decided not to. HSI, SSEC, NIKK, DAX all broke support (SSEC was the able to hold above until today). Chart below is not updated, down 85 pts to just above 2900 clearly under the 50. The difference between the two boxed areas? The latest blue box did not bounce as high and the 200 is heading downward.
    SSEC.PNG
     
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  7. MaximusAnalysis

    MaximusAnalysis Active Member

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    #ES_F $ES_F #SPY levels to watch 2048/ / 2036.75 / / 2025.50
     
  8. Tiptopptrader

    Tiptopptrader Well-Known Member

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  9. OldFart

    OldFart Well-Known Member

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    wtf is up with this spike all of a sudden?
     
  10. surfsup

    surfsup Active Member

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    QEv2.0
     
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  11. Venom08

    Venom08 Member

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    I'd say the US has been in a recession for at least six months now.... These figures have sucked so badly but I doubt economists will label us in a recession before the fall season.
     
    OldFart likes this.
  12. duck mich

    duck mich Member

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    I tough market would move higher on the low job number. why are we selling once again today?
    nothing make sense anymore in this market. I guess people looking for any excuses to sell everyday.
     
    #92 duck mich, May 6, 2016
    Last edited: May 6, 2016
  13. surfsup

    surfsup Active Member

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    Kinross is leading gold higher - knocking on new high since 2013. Yen positive today. USD holding ground. materials leading as spy breaks down this AM below the 50 following suit with other indices. QID is at the 200, will it bust through?
     
  14. duck mich

    duck mich Member

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    if next week turn out to be same as this week , I might join the sell in may group
     
  15. Gray Wolf

    Gray Wolf Well-Known Member

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    upload_2016-5-6_9-49-35.png

    Fib retrace on this last bull run is going to play out like it or not. Right now we seem to be holding support at the 23.6 level. If things hold we could get a slight bounce up next week. If we break below support at 2040 we should expect a drop to around 2000 to test the 38.2% retrace level and if the market is really that bad 50% to 1925 could be in the cards. I'm getting more bearish because in the last 10 days gold, REIT's, Utilities, 20 year bonds, and Consumer Staples are outperforming the S&P. Very defensive posture that does not bode well for the bulls. That said, I certainly do not see signs of recession and drastic bear market conditions but I do think the defensive positions show investors are worried about what is coming. Just my humble barely trained eye's view :)
     
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  16. Baggi

    Baggi Active Member

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    Let's take a bottom on AMZN too, since I just went long first thing this morning.
     
  17. StockJock-e

    StockJock-e Brew Master
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    That would be all nice and neat on that Fib chart!

    Lets see how it does!
     
  18. StockJock-e

    StockJock-e Brew Master
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    What you looking at for a target?
     
  19. internationalstocks

    internationalstocks Active Member

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    I think if we close above 2055-2060 today then we should see a bounce next week otherwise we could continue south next week.
     
  20. internationalstocks

    internationalstocks Active Member

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    image.png If DAX closes above 9935-9940 then we should be good for a bounce up next week I reckon as well
     

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