Stock Market Intraday Chat: Apr 30th - May 4th - Page 9

Looking to see if ES can hold 1388-1391 area, failure there and a quick probe to daily SMA 50 and probably 1381 or so is imminent IMO.

Getting a bit ugly across the pond in late trade.

That red down tick on the /ES got so low on the chart I could barely see it. Wow, let's hope it can sustain 1390 at this point.

Nice to see the EURUSD going my direction

Ok I know most of you have pets that can do better charts than me but the RUT is usually first to show me an indication of whats ahead, am I seeing a classic head and shoulders here?  Looks like right shoulder forming to me. Neither a bear or bull just like to be the right side !

 

 

Rats always leave the sinking ship first, and no other index has more rats than the small caps

Very legit possibility... the LS is a bit sloppy, maybe not the right word for it, it's flat. If you back out to the weekly, coming off Oct lows the last few months look a lot like bullish consolidation under resistance, volume has been pretty low, looks a lot like a bull flag. Not sure which way this one goes but IWM is a good tracker for the supports, around 81 or so. Personally it still feels like they want to jam this market higher, but for sure there is more of a struggle getting up through the 52 wk highs than last time we set them.

Nasdaq needs to attract some followers here as it set new HOD... giving it 5-10 min before this likely becomes a problematic divergence.

Got the Russell already... would like to see bonds break down out of the upper 142 20s and get DX below 79.20 then we could get some legs to/through ES 1400.

XLF 15.35 is the support here, if BAC or JPM start selling, that XLF support could be taken out.

 

I feel XLF has a long way lower to go when the tide turns.

Added to longs at 11:30 after we put in a bullish engulfing candle on the ES - mini...check out da chart !!!

 

 

http://www.forexpros.com/indices/us-spx-500-futures-advanced-chart

Good trade going long, we are getting a nice bounce off yesterdays support

Nice move, Dave 

Thanks guys..You know how many times i have seen this set up and did not pull the trigger,watch it fail today   I get the feeling we could be setting up with an upside surprise on jobs Friday after todays bad ADP report,they seem to contradict each other...I think Rando mentioned 1440 -1460 and putting all my personal biases aside i think it has a shot..

yeah I still like longs, 97, 94, 90, 87 84, 72 

 

I have buyers auction on the daily chart at 05

need price to break and close above that, pullback bounce off it IMO. 

WARNING TO HSM MEMBERS:

 

Someone better post something or I'll post another chart... you have been warned !  (30 mins and no new posts!)

MOAR Cowbell!!! market feels like it wants to go higher

 

Hope your right kylestt as I have a boatload of longs but I suspect an end of day fade again...   just as well you posted my next chart was not attractive and as vague as ever....

Just waiting to see if the highs get taken out, after a little rest mid-day, Russell looks ready to initiate another move up. YM looks like it was capped at 13200 to wait for everyone else, maybe they rightly don't want it leading. Pretty much up to TF and AAPL right now IMO... move through the highs and we flush out 1400 buy stops and I would look for 1404 ES test today.

Have you guys ever seen this??? *Shudders* ... I never knew SJE had Korean ancestors!

Dang, IYT / transports reaching for the stars almost up 1% here.