Stock Market Intraday Chat: Apr 30th - May 4th - Page 12

First trade of the week...SPY condor 138p/139p/140c/141c

Quote:

Originally Posted by rando 

I've mentioned it here before, but it is worth pointing out that 1389.50 is the 78.6% fib from the March 2009 lows to all time highs on ES. This level is beginning to feel like a bit of a magnet, and the fib being here might help explain some of it (above we see a huge push into 1400s, below then it might be quite a while before getting back over this level). My thoughts are still long, the "buy the morning dip" mentality has come back into play to some degree in recent sessions.

Looks like a hammer candle forming on the 10 min SPY chart.. 

Quote:

Originally Posted by Davecash77 

 

 

Looks like a hammer candle forming on the 10 min SPY chart.. 

Not familiar with that, what is it? I do see a head and shoulders with a neckline at 140 on the 10 min. It broke though with large volume so we'll probably see a retest of the 140 resistance before going down some more.

Quote:

Originally Posted by Davecash77 

 

 

Looks like a hammer candle forming on the 10 min SPY chart.. 

nice catch, seeing the same on /NQ as well, lots of nice wicks on a bunch of charts here

Quote:

Originally Posted by jsteinm1 

 

Not familiar with that, what is it? I do see a head and shoulders with a neckline at 140 on the 10 min. It broke though with large volume so we'll probably see a retest of the 140 resistance before going down some more.

Here ya go. Everything you ever wanted to know about a candle.

http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:candlestick_pattern_

Quote:

Originally Posted by jsteinm1 

 

Not familiar with that, what is it? I do see a head and shoulders with a neckline at 140 on the 10 min. It broke though with large volume so we'll probably see a retest of the 140 resistance before going down some more.

 jsteinm1..Take a look at your 10 min SPY chart whatever platform you are using and notice the wick that touched 139.65 and look at the picture i attached a lot of times it cam mark a bottom...

Thanks bob and dave, I was googling "hammer cradle" before I asked and wasn't having much luck

Quote:

Originally Posted by kylestt 

nice catch, seeing the same on /NQ as well, lots of nice wicks on a bunch of charts here

Thanks Kylestt

I like the upside until May 18th where we have some massive lunar atuff going to happen,I know a lot of you are not into the asto that much so i will not go into detail but keep that date in the back of your mind and i will revisit it ATT...

Quote:

Originally Posted by jsteinm1 

Thanks bob and dave, I was googling "hammer cradle" before I asked and wasn't having much luck

google is usually really good if you just use "whatever candlestick pattern" insert whatever name, or just do candlestick patterns and read them, some interesting stuff to watch

Quote:

Originally Posted by jsteinm1 

Thanks bob and dave, I was googling "hammer cradle" before I asked and wasn't having much luck

Funny stuff. You pulled a Bob.

Quote:

Originally Posted by Davecash77 

 

 

Thanks Kylestt

 

I like the upside until May 18th where we have some massive lunar atuff going to happen,I know a lot of you are not into the asto that much so i will not go into detail but keep that date in the back of your mind and i will revisit it ATT...

I won't remember May 18 Dave but if you would post a reminder on the 17th I might.

Quote:

Originally Posted by BobK 

 

I won't remember May 18 Dave but if you would post a reminder on the 17th I might.

Its May expirations if that helps. "Say Nay to May" next time your looking at chains... catch phrases always help

Quote:

Originally Posted by BobK 

 

I won't remember May 18 Dave but if you would post a reminder on the 17th I might.

You got it BobK...My alarm is set

ES 1390 support seems to be pretty solid, this is a good launching pad for move over 1410 IMO

Bought some AMAT May 18 $12 calls @.14 (earnings May 17)

Volatility $VXX dropping like a rock,more upside to come..IMO...Have been Long $XIV and do think it will test the $13.50 area by the 18th of May..

Quote:

Originally Posted by StockJock-e 

ES 1390 support seems to be pretty solid, this is a good launching pad for move over 1410 IMO

 

If we can get over 1400 anything is possible.

Sell in May and go away?  Not always.  Here are some charts that say otherwise...

Think I have this right, easier to post the link but I never do things the easy way.

 chart shows 1956-82 yep theory is true.

chart from 1983.... 

heres the link for more info...

http://www.seasonalcharts.com/saisonalitaet.html   

( I am not saying we go up or down, I am neither bullish or bearish I just like to be the right side - and I am Rando's biggest fan)

And yes I am missing 2011 and i'll let you know about 2012.... we'll see what happens ...

choppy may fml

i think we go lower, but sje been in markets for >20 yrs so fml