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Stock Market Today: February 25th - March 1st, 2019

Discussion in 'Stock Market Today' started by bigbear0083, Feb 22, 2019.

  1. bigbear0083

    bigbear0083 Content Manager
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    here's another version of the stats above in the form of a chart

    [​IMG]
     
  2. bigbear0083

    bigbear0083 Content Manager
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    backing off that 2815 level to a tee thus far :)
     
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  3. bigbear0083

    bigbear0083 Content Manager
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    that was a pretty epic day for the shanghai comp overnight ... one of the largest one day up moves in years :eek:

    [​IMG]
     
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  4. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    Yeah and they are in bull market territory now I believe :eek:
     
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  5. Ken34

    Ken34 2017 Stock Picking Contest Winner

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    ive been buying from like the 30s up till the mid 40s, im quite overweight in labu , been enjoying the ride. a bumpy ride, but overall a good ride nonetheless lol.
     
  6. bigbear0083

    bigbear0083 Content Manager
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    well this is going to be an interesting close ... that 2800 has been a pretty strong resist level since the correction started ... looks like we're losing that right now after we were trading well above it earlier in the day ... imo would be kind of an ugly looking close with a nasty looking topping tail on the daily chart if we're closing near the afternoon lod after such an extended run higher ... let's see if the bulls can bring it back with about 25min. left in the session o_O:p
     
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  7. Ken34

    Ken34 2017 Stock Picking Contest Winner

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    yea the VIX is up quite a bit, very interesting.

    just checked the chart, your right, its been pretty strong resistance since we took the dive, i wouldnt mind consolidating between it and the 200 day though, its been one hell of a run we have been on.
     
  8. Ken34

    Ken34 2017 Stock Picking Contest Winner

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    im not too well versed in options, but does anyone know why the strike prices for LABU jump from 60 to 65 with no in between? was looking to sell some calls.
     
  9. bigbear0083

    bigbear0083 Content Manager
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  10. bigbear0083

    bigbear0083 Content Manager
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    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-
    [​IMG] <-- click there to read!

    Hope everyone has a great trading day ahead today.
     
  11. bigbear0083

    bigbear0083 Content Manager
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    Morning Lineup – Cautious Tone Ahead of Powell Testimony
    Feb 26, 2019

    What happened in December? Between the delayed December Retail Sales report released earlier this month and this morning’s report on Housing Starts, either the economy hit a cliff or whoever was responsible for tabulating the data while the Federal government was shutdown needs to brush up on their calculations. Today’s report on Housing Starts came in at SAAR of 1.078 million, which was 178K below the consensus forecast of 1.256 million. Looking through our Economic Indicator Database, there has not been that big of a miss in Housing Starts relative to expectations in 12 years! It wasn’t all bad news, though, Building Permits came in better than expected.

    Yesterday, we noted the fact that the Shanghai Composite was bumping right up against a very long term downtrend after its 5%+ gain to kick off the week. Overnight, the index rallied higher in the morning but gave it all back throughout the trading day and closed with a decline of just over half of a percent. So, we’re going to have to wait at least another day (and likely more) before that downtrend gets taken out.

    Another downtrend that’s provided pretty formidable resistance recently is the short-term downtrend in long-term US Treasury yields. At both the 10 and 30 year maturities, yields just can’t seem to increase the way so many have been calling for. In the case of the 10-year, yields bounced off the early January lows but quickly ran out of steam just shy of resistance at the 2.8% level, and since then have been trending lower right below the 50-DMA. For the 30-year it’s a similar story as the 50-DMA acts as a ceiling and the current yield of 3.02% is just 14 bps above the low print from early January.

    [​IMG]
    [​IMG]
     
  12. Steven_Burt

    Steven_Burt Well-Known Member

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    trend line broken but lots of support levels coming up at 2785, next ma(9), then the ma(20). Bears really need to break below 2700 to get any momentum going imo.
    spx_001.png
     
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  13. bigbear0083

    bigbear0083 Content Manager
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    10 handle spike job in the /es in about a min. there.

    is powell is speaking right now or something?

    i'm not following the action too closely this morning.

    edit:

    hmm, could also been this

    U.S. consumer confidence jumps to 131.4 in February from 121.7
     
    #33 bigbear0083, Feb 26, 2019
    Last edited: Feb 26, 2019
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  14. AverageJoesTrades

    AverageJoesTrades Well-Known Member

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    Options Alert - from yesterday, just had time to post:

    ROKU 3/15/2019 62 CALL 1,100 @5.3 which is a mid price OI was 283 ~ $583,000 purchase.
     
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  15. AverageJoesTrades

    AverageJoesTrades Well-Known Member

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    Options Alert:

    SWK 7/19/2019 145 CALL QTY 2,000 which were purchased @ 6.1 OI was 1063 meaning this was a new position worth $1.22M
     
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  16. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    I didn’t get a chance to see what did Powell say today just yet, treasury yields are down though so I guess he was dovish :p
     
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  17. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    The SPX right at 2.8K at this moment, will be interesting to see if we will finally close above of that level :D
     
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  18. bigbear0083

    bigbear0083 Content Manager
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    denied again (at least for another day :p)

    seems like we're either going to need to consolidate here (correct through time) or pullback a little and then see if we can blast through it.

    might need some catalyst to get us past with conviction though ... and i'm just not really sure what's left that would get it moving decisively higher from here.
     
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  19. AverageJoesTrades

    AverageJoesTrades Well-Known Member

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    Is something going on with futures. All of my charts across multiple trading platforms are stock at 2789.75 for multiple hours - unless we're really pegged at this price, but I haven't seen it budge at all.
     
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  20. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    Futures on S&P 500, metals and crude oil stopped trading due to a technical problem at CME Group

    https://mobile.twitter.com/markets/status/1100586830737612800
     

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