Tuesday update

SHORT TERM: gap down opening DOW -193

Overnight US index futures were lower, and at 8:30 retail sales and the NY FED were reported higher. Nevertheless the market gapped down at the open to SPX 2715, and continued down to 2704 by 10am. At 10am the Home builders index was reported higher. A rallied followed to SPX 2716 by 10:30, then the market entered a choppy trading range between 2702 and 2715 for the rest of the day. Ending the day with a bounce to SPX 2711.

For the day the SPX/DOW lost 0.75%, and the NDX/NAZ lost 0.95%. Bonds lost 24 ticks, Crude added 50 cents, Gold dropped $28, and the USD was higher. Medium term support remains at the 2656 and 2632 pivots, with resistance at the 2731 and 2780 pivots. Tomorrow: housing starts, building permits at 8:30, then Industrial production at 9:15.

After a rally on Monday, when the SPX rose to 2742, between the 2731 pivot and the 2750 trend line resistance. The market closed under the pivot on Monday, then gapped down to open Tuesday. Index trading was mostly to the downside on Tuesday, as the 10YR resumed heading lower with yields rising to 7-year highs. The stock market rallied recently as yields hovered slightly above and below 3%. With yields on the rise again, equities are again feeling selling pressure. The three scenarios noted on Thursday are still in tack, and are posted on the SPX hourly/daily and DOW daily charts. The triangle scenario remains the preferred short term count. Short term support is at the 2656 and 2631 pivots, with resistance at the 2731 and 2780 pivots. Short term momentum displayed a negative divergence yesterday, hit oversold today, then bounced higher. Best to your trading!

MEDIUM TERM: uptrend

LONG TERM: uptrend

CHARTS:  https://stockcharts.com/public/1269446/tenpp

About tony caldaro

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376 Responses to Tuesday update

  1. I posted this a few months ago.
    – 10 year T-Note chart with a couple of possible necklines.
    The first one on Jan 29 was fully executed. That was the day after the SPX topped out, 2872.
    The second one was executed the past few days. It has now moved far enough about the neckline so not to be a candidate for “failure”


    No matter which of these H&S is the more valid one, it really doesn’t matter.
    Just the smaller one (Jan 29) is a gigantic H&S Reversal.

    I read in the past few days some poster saying he was borrowing money to go long the market.
    I hope that was prank.

    At the very least, all swing traders should take this seriously.

  2. johnnymagicmoney says:

    One last post and this is the big picture.

    Everyone is freaking out about yields …………..initial reaction is bad. Then the market will become accustomed to it and bid the market back up to new highs. Then the yields will actually become recessionary and the market will really freak out and send things lower. Long story short…………..yields up market down…………………………….yields up more market up…………………………yields up even more………………..market over. We are still in stage one

  3. gary61b says:

    61.8 was breached and the short setup at 2721.5/2724 is in play. https://gyazo.com/840ede0aa06d44e6a28ed046cfc4408e

  4. johnnymagicmoney says:

    been in these gene editing stocks…………….CRSP, EDIT, NTLA and also BLUE……………BLUE will become a huge biotech or get taken out. There science is just too good. I had KITE and JUNO……..both taken out. BLUE will go too. If anyone isn’t familiar with what is going on in medicine they should become familiar. Cancer tumors in late stage patients (which under previous treatments were not responding) are melting away in months. Cures are on the horizon for so many diseases and life threatening situations…………..science is real and its here. Science and Technology will always outperform the markets if you pick enough of the winners.

  5. alexh110 says:

    The markets should fall hard tomorrow. They seem to be following the same track as the minor c downtrend in March.

  6. vivelaamo says:

    A lot of people on here think it’s easy to be a bull and the skill is in shorting. I disagree. Going long and holding or adding at breakouts takes a lot of skill and discipline. Especially during a correction when it feels like there is more downside to come and so much analysis is calling for a move down.

    Even though I make noises on here like I’m a blind bull that just keeps adding. The reality is I’ve aleays struggled with holding on to winners. Kudos to those that hold on.

    • In a BULL MARKET, it’s so true to let the winners run.
      However, in a chop market, you need to preserve gains to come back and fight (take small losses) another day. That’s what I’ve learned. Left a lot of $ on the table hoping for a big run either way. Now, scalping any gain is good. Be the turtle.

    • mcgcapital says:

      It isn’t easy to trade properly on either side I.e. in a way that protects capital while still capturing most of the gains.. main difference between perma bulls and perma bears is that if bears don’t have the risk management side ironed out they won’t still be in business after the last 9 years. But there are probably plenty of people on the long side who just keep buying dips without good risk management but get away with it because there’s not been a bear market. Must have been plenty sweating with oversized long positions at 2500s. If we ever do have a bear then those people are going to get hammered hard.. there are a few who post on here who come to mind because they never see it as possible for us to do anything but go up

  7. Mary773 says:

    RUT continues to outperform because smaller corporations are benefiting disproportionately from the tax cut and regulatory relief. This trend should continue intermediate term, although day-to-day relative strength is a coin toss.

  8. I could be wrong, but I think we end the day at /es2725.
    I have my hand on the button in case we get below /es2720 again (DB off 2711?).
    However, I will try to close all positions before the night as usual (+/-).

  9. learnedmylesson25 says:

    A test of embedded stochastics vs NK nuke talks stalling.Gold could care less.Later.

  10. fxaprendiz says:

    Ok let’s talk EW not political rants…
    Tony has 3 possible counts, two of them bearish in the medium term (triangle and double three) and one bullish in the long term (ending diagonal wave 5).
    While the triangle seems favored for now I have been keeping an eye on the double three. 3 waves up from 2552 to 2718, 3 waves down to 2592, and so far 3 waves up from there. If SPX manages to make a marginal higher high then we would have 5 waves up in this leg. Therefore we could label those 3-3-5 waves as an abc forming the wave B Tony mentions as part of a double three. What comes next? Logically, wave C down.
    I feel like I am stating the painfully obvious but lately almost nobody in here talks EW so I’m writing this for the guys interested in basic EW principles.
    Only a possibility of the 3 mentioned by Tony, but one that may gain strength in coming days.

    • stcoleridge says:

      Yes but those 5 waves upnwouldnt necessarily be quantified by OEW. Not that it changes the count, would just be three waves.

  11. Christian Rohlinger says:

    From an outside perspective. A lot of noise between the bulls and the bears. Still sounds triangular. Bears are in control unless bulls can retake 2743. IMO. GLTA

  12. fotis2 says:

    I bet big Phil already short will be filling us in on targets HIT!DING! in about…

    • chrisk44342 says:

      Phil could not safely go short until 2720 was taken out so i doubt he is short yet. Probably looking for shorts now, however.

      • phil1247 says:


        see why i said
        you guys buy
        i am not interested ?

        • chrisk44342 says:

          I did not buy. Which is why i said it’s best to wait and measure interaction between the fib levels. Good observation phil

          • phil1247 says:

            i did not like that huge front run chris

            really we are back where we started
            stuck between 2711 support and 2734.5 target
            and STILL not interested LOL

    • phil1247 says:

      at this rate you will never be getting any soup again

      • fotis2 says:

        Bullish above X Bearish bellow Y target XYZ Yippee Hit!..Every day 50 times..No thanks…GL to you and those that follow you

      • fotis2 says:

        By the way you got enough fans to start your own blog as Travis01 pointed out and spare us your constant blabbering.

  13. Lee X says:

    Nice job Ashley

  14. johnnymagicmoney says:

    could we retest the 2550 to 2600 area again before take off? Sure. Anything is possible but why you would want to be short when the RUT is at another new high and breadth is at highs is beyond me. Too many stocks at new highs and the RUT is a bullish indicator. This correction has been controlled. The impulsive scary drop was in the beginning……………….everything else since then has been controlled and stayed within a range…………..extremely predictable choppy behavior without lower lows. This is not behaving like we are going to see some crazy numbers like Fiona is predicting. VIX is heading back down to single digits. Rates and liquidity will inevitably spell doom for this market but not just yet. New highs before new lows.

    • vivelaamo says:

      I agree with this but can’t tell if serious?

    • That RUT will not break!
      Look at the front page of Y! Finance. That is all green while SPX, NDQ, and DOW are rolling over.
      I agree that until the RUT rolls a lot of this is noise.
      I’m holding my longs and adding more to SPXL.
      If we break, I lose a few hundred, but the upside potential is much greater.
      Until there is a sustained 1HR break of 2720, I see this bouncing off 2719 (/es) and heading to 2740ish as the first stop.

  15. stcoleridge says:

    This RUT outperformance looks on its last legs to me.

  16. phil1247 says:

    just a gestalt view here

    bonds dollar oil gold all seem to be nearing a reversal
    seems they just need one more push
    to cement sentiment and suck in the last buyer /seller before reversal

    perhaps there is some news coming that will do the trick ?

    i am exiting many positions and have very little skin in the game now

    Tony … hoping for your continued progress to good health

    see ya !

  17. H D says:

    Tony,,,, Thank you for all the years of blogging the waves. I can never thank you enough. Hope our paths cross sometime.

    Don’t let the heavy posters talk you out of good set ups. Best market we’ve seen in years. Just Tony’s pivots and fibs. Mind that 2731 pivot. Gatekeeper IMO. SPX has spent very little time above that level during this correction. Should keep you objective.

    Visual of how good those pivots and fibs have treated us this year.

  18. 300 contracts SPY 260 Puts 5/25.
    200 contracts SPY 260 Puts 6/1
    Will most likely add to this unless market takes out my top target at end of next 2 days.

    Good luck folks. I will “cool it” till we see that big drop or till 6/1 comes and goes without a good result. I wouldn’t want to upset you all. hey just think if I get it wrong and it rallies you can use me as a punching bag. it’s only (found) money anyway. I hit the last 2 drops and will probably make much bigger bets as the drop seem imminent.

    • stcoleridge says:

      Since when did options trade as “contracts”?

    • E says:

      I suggest pushing your plan out by 1 week. 300 contracts for 6/1 and 200 for 6/15. My timing shows that we may not breech the 200dma next week, because there may be a large corrective wave around the 2632 pivot. The correction may last a few days which will cause your puts to expire. So far my own timing has been a few days off, so I’m advising a bit more patience Good luck!

    • E says:

      6/1 and 6/8 should work too.

  19. Fiona, Seeing Yuja Wang in Carnegie Hall tonight. She plays Rachmaninov as well as I have seen anyone. Love the fact I can go to see Jimmy Eat World (hard rock) , Jazz at Lincoln Center and Birdland, and of course classical music. Retired, can’t take the bad weather in NY but will never leave it for more than 3 months at a time. I can also see the top performers of the world here.

    • fionamargaret says:

      Yuja has really matured and is really stunning to watch…you will not be disappointed.
      Have fun. x

  20. Mary773 says:


    Weekly support:

  21. scottycj1 says:

    Think there may be one more test of the 2700 lows.

  22. Billy says:

    European indices still running up. Every dip has been bought going on 8 weeks now. I think they sense the writing is on the wall. Namely a sick bond market with (still) hideously low yields that can’t last and which are starting to move up. The other part of the equation is the move into the Dollar and the move out of everything else including the Euro which I expect will go much lower over the next couple of years. So equities in the European jurisdiction are responding as almost a default mechanism. FTSE is within an inch of the January high, CAC is at post 2009 highs and the DAX approaching the 78.6% retrace (needs another 0.65%). My best guess is the move is in the 5th wave, possibly late in 3 of 5. Thus maybe a correction shortly.

  23. Dollar continues to RISE as does the breakout event on 10 year note! Gold getting hit badly over this. Super duper earnings just waved bye-bye with a whopping rally? Oh well maybe next earnings season.

    The move of the two deep drops. First one snapped back quickly only to be tested once again. this one is down right pathetic.

    I am simply amazed how bias can cloud that is in front of everyone. Trade war still on and it will be VERIFIED tomorrow. The inability to mount even one decent rally day suggests something is not right.

    I ALWAYS get excited when I can “SEE” the market path. As we speak the market is DESPERATE to stay above 2726. That’s MY line in the sand.

  24. phil1247 says:


    in extensions
    next target 3.13%
    then 3.16 %

    nothing ” magic ” here folks ……. LOL

  25. HEY VIVE did you see my post regarding the bet?

    A DEAL (if) we do not close higher than 2733. Intra-day spikes don’t count!

    Just reply yes and it’s ON!

    • HELLO, anyone home? Surely at 2728 you will take me up on it? NO? Come on guy. You get to free yourself of my silly assumptions.

      • Speaking for myself, I would appreciate your limiting your posts to technical analysis, EW or OEW theory. I/we are trying to learn from others to refine our trading skills to increase the probability of break even or profitable trades. Thanks for your understanding.

        • I do not appreciate your post to me. I would appreciate you keep your opinions to yourself. Just tell TONY my posts are so destructive to your virgin ears he MUST ban me. I see a crash coming and YOU tell me to shut up? I actually see the HIGH for today. I actually called the 10 year rally right AT 3.11 percent WAY before it occurred.

          I guess that’s NOT MARKET related while all the other foolish posts stick to EW? really? I can post any target and claim it fits. I know this because everyone here does EXACTLY that. Sorry but YOUR post is irrational nonsense.

          Phil sees a HUGE rally every single day and thinks a 20 point move off lows is proof?

          HEY, I have proposed actual bets posted. this way you can either follow a fool or one that makes money. But that’s not the purpose here is it. I will continue to bet long shots trying to guess the top and hit it one in five on average for a gain of well over 100,000. That’s MY play. I added PUTS yesterday and will do so as soon as this sucker breaks for me.

          • mcgcapital says:

            Just give it a rest, pretty much everyone on here is sick of your bullsh*t and some people have stopped posting since you came back and reposted the same repetitive cr*p over and over. Most of what you post proves you don’t really understand how markets work anyway, hence why it’s a ‘bet’ to you…

            You have no self awareness so you maybe haven’t realised that’s what everyone thinks. And Tony is ill and I’m sure he’d rather not be messing about with this stuff right now.

            Oh and if anyone on here’s a virgin, it’s that Holly Silver character as she’s a 🐶! Nobody would put up with that. Peace out ✌🏻

          • micky says:

            Take hike Golly, and your CAPS too.

        • phil1247 says:


          do you notice how holly is gradually overwhelming gary liebowitz ?

          it is the classic struggle in dissociative identity disorder

          • scottycj1 says:

            Likely Schizophrenia

            • phil1247 says:


              it was formerly called multiple personality or split personality
              highly unlikely to be schizophrenia

          • Hi phil Nope, when I see these types of posts I don’t bother to read them. There are a number of great contributors, you being one of them, on this site…when I see one of them post, I study their analysis in hopes of improving my trading system.

            As far as the psych labels are concerned…brings back memories doesn’t it…LOL

    • vivelaamo says:

      I replied you crazy guy. You’ve gone extra nuts today

  26. gary61b says:

    That worked as overhead.. the buying this am off of the long set up at 14 right to the 2732 top of the cluster now profit taking.

  27. fionamargaret says:

    Long oil to 80, long gold, long the long bond, Long fear.
    Short the indices….will the $SPX go as low as..2340…or 2215

  28. If market can not reach and breach 2732 today it is over. Notice my very long standing momentum ceiling for 10 year note is 3.11%. Also notice it has stayed right below that for days. Today it briefly hit 3.12%. Even a small breach is significant. The build up at 3.09 thru 3.10 suggests it will soon break above decisively. When that happens the stock market will react negatively. BUT listening to the gurus here they don’t see any correlation to anything.

    Being bullish here, especially since the market couldn’t muster any momentum during earnings season strongly suggests there is a shift going on. that usually translates into a corrective phase or a major reversal. I am still in the camp of a correction that hasn’t finished

    The LONGER the market stays near these heights the stronger more violent the drop will become. Like an ever tightening coil. But hey, what do i know. just one mans opinion.

    As for SANCTIONS, guess what, it is still ON! Seems his whole administration told him he would be committing a treasonous act by knowingly allowing a spy company to operate in USA. His latest tweets show he backtracked from the idiotic quid pro quo decision. hey, if I was given a One Billion loan from China to build my hotels, residences and golf course on the huge theme park in Indonesia I would sell out also. I believe TOMORROW section 301 on intellectual property restrictions will be enacted. Lets see if they mention ZTE.

    • Theodore Lerts says:

      Sigh. You’ll never learn.

    • BTW, I have seen an extraordinary amount of very strong bullish candlesticks these last 4 days. It seems to be holding up the market but not gaining any traction. I am as close to 100 percent sure, as I was that we would have this correction and as I was in early 2016 about my position. We will experience a sharp deep drop soon. How deep? I believe the first test is the 253 area. I expect it to stop dead the first attempted drop BUT I have a strong feeling any rebound from there will be brief and the real floor would be 230’s are. Been saying this a while now with nothing to show for it so as of now pure speculation on my part.

      Where are the short squeeeze BULLS? Waiting till the chart gives you and slim hope of achieving it? I don’t think you will see it between now and the drop. I am extremely bearish right here. JUST a slim move past 2732 will change my mind! DON’T SEE IT HAPPENING.

      HOW MANY WANT TO BET WE DON’T SEE 2733 ANYTIME SOON? As I speak it is only EIGHT POINTS away!

      • phil1247 says:

        2762 target validated

      • Theodore Lerts says:

        You’ll be saying the same thing next week, only at higher levels. And the week after that, and the week after that, etc. etc..

      • vivelaamo says:

        I bet you we see it today.

        Stake is if we hit it you stop posting your rubbish. If we don’t I’ll stop posting mine.


      • HEY get off my post! I called 2733 WAY before YOU did. Tried first attempt and was thwarted. I used visual recognition of approximate stop point. I wonder why so many times my non-EW method seems to come into play? The BIG question is does this MOMENTUM have enough to break above? I say NO. We should know way before the day is out. Implication: Extremely negative if it fails here.

        LOVE when PHIL has to chime in when it appears I could get lucky. I don’t need YOUIR advice PHIL. Aftercall you have been calling for a huge rally and short squeeze for a while now.

        BTW, even if on the off chance it marginally breaks 2733 it has to break 2740 and that one is even a harder Brick Wall than 2733.

        HEY PHIL, I am not trying to take away any of your cheerleaders so stay cool! I always “talk” out my bets and position.

        • phil1247 says:

          20 es points straight up
          not squeezed enough yet ?
          keep buying puts then

        • 10 year note at 3.112 WOW! here we go, right at ceiling once again! The next break should determine if we have a sharp drop in equities soon or not. I expect the yield to break way out to perhaps 3.25 rather quickly. the quicker it does the more likely the stock market drop hard. I have added more PUTS for June 1st just to be sure I get a piece of the drop if it happens to hold off for another week. Insurance play. I AM confident of the drop soon. 253 is my best guess on first floor. This is FUN! I can finally see a pattern develop and it is right before an assumed deep drop. If I am wrong I should know in short order on timing and top of this move. I am still confident WEVEN if it fails to hold here that a BIG FAST DROP is coming very soon.

          A break Below 2726 suggest to me this move is over.

      • chrisk44342 says:


      • “I am extremely bearish right here. JUST a slim move past 2732 will change my mind!”
        So, what you’re saying is… that you don’t know.
        Got it.
        Proven here that Holly/Gary is just noise like the news.
        All timeframes are a GO GO.
        Bullish on the 15, 30, 1HR, 4HR, Daily, Weekly.
        Until otherwise, the strategy is to buy on pullbacks.

        • 2716-2020 cluster is the price levels to watch on a trading level. extended time below and what Holly/Gary says may come true. But until the Daily and Weekly give it up (time below 2650; 200dma; 50wma), the path is still up.

  29. Theodore Lerts says:

    Up, up, and away my friends!

  30. phil1247 says:


    CL 72.92 target and upper trendline

  31. SP500 Bracket- Day


  32. vivelaamo says:

    Mcg what you do make of the FTSE’s V shaped recovery? Pretty incredible move considering US weakness.

    Are you considering a double top short?

    • mcgcapital says:

      Pretty much everything has gone the way of the bulls recently. Most of the banks have upgraded U.K. equities to overweight which is creating the permanent bid under it… then you have people positioning for a positive Brexit outcome in stocks, but also sterling seems to be pricing in the opposite with weakness that’s not helped by the BoE backtrack on raising rates with Carney’s perma dove nature. On top of that, FTSE is quite concentrated in commodities, and the consensus view now appears to be that we’re late cycle and that commodities generally do well at that stage.

      Think it’s something like the top 8 stocks are 40% of the index. Likes of Shell and BP don’t look great value to me but I’m working on the assumption that Brexit goes ok so sterling goes back to pre-referendum levels over time and that oil upside is limited by US shale and OPEC relaxing production restrictions if it goes higher.

      Technicals I’m just watching the major pivots.. surprised we haven’t had a reaction off either of 7300, 7440 or 7560-600 area. Well, we managed a down day off those areas but they were places to expect a multihundred point pullback from. I’m not sure we will get a perfect double top, it’s showing signs of stalling out this week. Going higher on the open every day and then weakness later in the day. Under 7690 and it should be a fairly shar move in the direction of 7600-7630. Overall, it definitely looks bullish but extended.. a drop to 7600 which is bought would be healthy.. under 7600 and it becomes less clear where it’s going. And above 7800 would expect a fresh up leg.

  33. Market behavior is extremely negative. The amount of time it’s taking to even show a bullish trajectory is just too damn long after the big drop. We should have already broken out. I can’t remember ever a time when we had such drops without an immediate upside response to verify the correction and trend being bullish. I have Puts but will add more if I see a major stall develop.
    Oil at 80 is going to hit the gas pumps in a big way. bond yields broke a 7 year high. Earning season is over. What can possibly be the driver of the next rally?

    I expect on a closing basis to see 2732 or higher tomorrow. If it can’t achieve that I expect not only a slide but a deep fast one at that.

    • mcgcapital says:

      Why’s it always all or nothing? You must be getting killed buying out of the money options all the time expecting sharp moves everywhere. Yeah it’s not overly bullish and certainly different to other rallies post 2009, but there is also now a fair amount of conjestion underneath.. this could last for months before there’s a resolution. I think if we were going to tank it would have happened by now

      • fxaprendiz says:

        Extremists viewpoints have dominated this blog for the last few months and nobody in all honesty has gotten all the turns right in this consolidation environment.
        With that said, I don’t expect the market to tank but I still expect a pierce of the 2530 SPX low at some time in late June, if only to fool all the uber-bears into thinking they finally got their much awaited crash. Until then patience is the name of the game and understanding this is only a correction well below Primary degree would serve the bears to calm their over-eagernes. They day will come, that’s for sure; just not this year…

        • Gary Lewis says:

          I agree. This blog has become another liberal rag full of disinformation. Used to be a wonderful site full of interesting technical analysis. So sad to see it devolve. Other than Tony’s excellent work, not much else here anymore.

    • Market behavior is extremely positive. The amount of time it’s taking to even show a bearish trajectory is just too damn long after the big rebound. We should have already broken down. I can’t remember ever a time when we had such rises without an immediate downside response to verify the pullback and trend being bearish.

      I expect on a closing basis to see 2696/2700 or lower tomorrow. If it can’t achieve that I expect not only a breakout but an impulsive fast one to the upside at that.

  34. fionamargaret says:

    Thanks Chris Kimble

    Charts of the Week….Thanks Raymond James

    Thanks and love to Tony….and everyone xx

  35. emuntrader says:

    Thanks Phil love the site. very easy sorry for the late response. Leaving on holiday to NY in the morning. The i,ii,iii would be an ABC if we head down.

  36. aahmichael says:

    A little nugget for the raging bulls to ponder.

  37. learnedmylesson25 says:

    Based on stochastics,if you don’t get it now,you never should.Embedded on NASDAQ,IWM and SPX.They did it again.

    • Theodore Lerts says:

      Woot! Woot! Heck yeah bro!

      • stcoleridge says:

        If Queen Gertrude was reading this blog I think she might have something to say about that.

        • fionamargaret says:

          …incestuous sheets…

          • stcoleridge says:

            Well there’s that, although incestuous is a bit harsh in modern day society, but I was thinking more along her point about ladies protesting too much.

            • fionamargaret says:

              ..maybe it was a bit harsh in Hamlet too, but the ghost did discredit her calling her an incestuous, adulterous beast and made reference to incestuous sheets.
              This was never developed further, so we are left with our own thoughts floating in the air with the wisps of the ghost’s words….

              • fionamargaret says:

                It was nice speaking with you…
                I did post John Gielgud on the site quite a while ago…what an actor…the timbre of his voice touches one to the core.

    • fionamargaret says:

      ….they are in bed together…

      • stcoleridge says:

        Remember “Spitting Image”? “Dear dear Johnny..”
        In reference to Gielgud of course.

        • fionamargaret says:

          No, I had to look them up, but now have to watch…..what fun..
          I never really had much spare time…still have to be a kid…thank you STC xx

  38. Mary773 says:

    Closing breakout of a four month/five point reversal consolidation.
    Measures to 178.

  39. bouraq says:

    Chart of the day is #SILVER at http://www.tradingchannels.uk

  40. Theodore Lerts says:

    If you aren’t long now, then you are wrong. Buy any and every minuscule pullback. This bull train is heading way north of 2800, non-stop. This is extremely easy money folks.

    • kvilia says:

      Buying frantically, thank you for your humble advise. Borrowing on margin, too.

      • kvilia says:

        advice that was

        • Theodore Lerts says:

          I took out a $20k loan on week ago and went long. Not joking, The counts have never been so clear. Writing was on the wall. Already paid the loan off, and banked some profits.

          • mcgcapital says:

            Lol.. trading with money you don’t have is always a bad idea, particularly if your leverage is that high that a 50 point S&P move is enough to repay the whole of the original capital. Markets are always a two way bet.. doesn’t matter how clear we perceive patterns to be, all we can do is look for inflection points, place our stops and see what happens

            • Theodore Lerts says:

              It is the first time I have ever taken out a loan to trade/buy stocks. Easiest money I have ever made as well. Going forward, I will use the profits to go long again (as I did today) in a MASSIVE position. The bull count is clear. I consider it an extremely small risk to shave a few years off retirement.

              • travis01 says:

                I think he’s kidding. $20k is not massive nor shaves years off retirement. If true, then you risked years of retirement funds for a week long market bet? I hope not. GL

              • aahmichael says:

                Travis, it’s the internet, and Mr. Lerts is spewing nonsense. It’s safe to say that he surely did not “take out a loan for $20k to trade/buy stocks,” and he didn’t make more than 100% profit on that fake loan/money in the past few days, and $20k isn’t going to “shave a few years off retirement,” unless he’s a homeless person living off of welfare.

              • Gary Lewis says:

                I think that Lerts is another Holly pseudonym. Very irrational.

              • travis01 says:

                funny I see that Lerts is new to the internet as well and pretty sure he is an alias of another poster but not Gary/Holly

          • aahmichael says:

            You borrowed money from a bank in order to invest it in stocks?

          • fotis2 says:

            BS!!! We have enough B….ters right here don’t need/want more go back to posting on investing.com

  41. Nvda produced Inside Day today

    Larry Williams famous setup pattern

    Sox index move higher today after two previous days lower.

    Interesting Thursday Coming

  42. Take Close Observation Of NVDA on 15 Min Chart

    Study May 14th 15 Min fractual

    Compare it to Today’s 15 Min Chart 40 DMA

    Possible gap lower opening Thursday same as back on May 14th saw

  43. Nothing to feel frustrated here, just wait if completes 5 waves up, it will give 3 down for certain. There you would be able to buy with confidence. For now we had 3 waives completed up. And this could well be the 4th ( so uptrend still ) waiting for the 5th, will update after. Gave up to trade anything today, just loosing most of the profits trying to front run the events. Will sit and wait to see. If it will break the today low will try one last short. As option trader, the time wasted waiting is all lost of money.

  44. xuwu992000 says:

    @@ May 16 came to pass as a dud date, though RUT made an all-time high. The next Major turning date is still valid, and the time window has been shortened. The market should see a major down leg (35+ points) NO LATER THAN tomorrow; otherwise, the entire bearish pattern is in serious doubt. W-3 of this down leg might have already started from 2728 at 3:00 pm today [bear nest] and would reach 2662 at the minimum by Friday.
    @@ WMT looks like it is going to waterfall 8-10% to the downside tomorrow. If that is the case, it will drag the DOW & market with it.

    • Theodore Lerts says:

      That being said, I just went long in a MASSIVE position…Xu Wu, you are the perfect contrarian indicator. Though I truly do hope you make it back to the form you had 3 weeks ago. You were really on a roll!

      • stcoleridge says:

        With all due respect how can you have a massive position if you need to borrow (and then pay back real quick) $20,000?
        What kind of leverage did you get on your $20k? Please define massive.

    • E says:

      Your date may not be a dud. The turning may have started 3PM today as you stated. It was during the last two hours on May 10, 1928 when volatility spiked to unprecedented levels.

      • tommyboys says:

        Man you guys looking for crashes and waterfalls and now 1929 ?? Really?? Drama drama drama. Whole different market today with strong internals and A/D busting daily ATHs… dream on geez.

        • stcoleridge says:

          But it’s perfectly OK for Theodore Lerts to spew drivel about easy money bullish trades with no possibility of anything other than a minuscule pullback?

        • E says:

          I’m not looking for a 1929. It is just a possibility based on cycles. If we really are still in a market then I’d gladly relish in it but true TA should look at all sides. The highest probability at this time is moving back to 2550. If it really rebounds from there then this is indeed primary iv and we can be happy the economy will likely thrive. If it falls through then this is a whole different story and we should be prepared for it.

    • scottycj1 says:

      NOT A DUD WU…….I said a week ago the CIT was the 15th……pointed it out to you twice.

      “Still a man hears what he wants to hear
      and disregards the rest”

      Paul Simon

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