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Even though i don't post that much anymore, i still watch this thread. I want to see who else is shorting this, and how bearish people are.
Very interesting.
Broker: Advantage, Trading Technologies, OptionsCity, IQ Feed
Trading: CL, NG
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Hopefully no one is swing short yet. There was some profit taking that occurred but no confirmation at least for my liking. There's still strength in this move via the Fed and the MACD is still well above the zero line.
Broker: Advantage, Trading Technologies, OptionsCity, IQ Feed
Trading: CL, NG
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Well, I said I would update this again when something significant happens. As we all know, the great POMO rally continues so nothing exciting there however, the bond/notes market continues to show some serious issues in the face of Bernanke. Specifically the 2's, 5's and 10's are starting to sell off at an alarming rate. I know this thread is more specific to the ES but I find it rather interesting to see what's occurring around the Fed's policy to inflate equities at all costs.
As I mentioned before regarding the ES from a swing trade perspective, long is still the trend but as always, remain nimble. The VIX hit a fresh low today of 14.86 which is becoming comical.
Broker: Advantage, Trading Technologies, OptionsCity, IQ Feed
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Zombie Equities are continuing to march along the 10 day MA with an ever shrinking range and dismal volume. Obviously there is no signal to go short as there is an endless bid beneath the market via the Fed's liquidity injections by way of the PD's. I would love to say that traditionally in times of quiet, the market is getting ready to change trend but, I feel when something is being manipulated, all traditional indicators are void. Never the less, this is truly astounding to observe.
Broker: Advantage, Trading Technologies, OptionsCity, IQ Feed
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Great article! You know at some point, there will be another blow up. There's no way corruption can continue on forever. Banks are right back to where they left off before the crash with regards to the use of leverage. Mish put together a good piece about how banks are now looking to lend to municipalities in lieu of bond offerings. It's unbelievable...
We need to go back to the old days where banks didn't have the power that they do now. But that's another conversation entirely.
Broker: Advantage, Trading Technologies, OptionsCity, IQ Feed
Trading: CL, NG
Posts: 1,038 since Jul 2010
Thanks Given: 1,713
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Interesting point. Regarding the flash crash day, I got a swing short signal the day before and was absolutely amazed of what went down the next day. The bid/ask spread at the bottom of the crash was something that I haven't seen in a long time.
The current state of the equities market is disastrous in that even though equities continue it's Zombie march up, the rug is being pulled out beneath USD denominated investors without much mention. Take a look at the USD, you will see that selling has resumed at the current retracement and the MACD appears to be getting rejected near the zero line. A very bearish signal in my opinion but will need to continue to make new lows. If it gets support again back down near 77, we could see a bullish divergence and see the USD spike higher. It's at a critical point right now.
But it appears that the Fed's new mandate to inflate stocks will continue on as they are providing the PD's with endless cash to bid up any pullback and squashing the daily range. At this point the market is essentially moving in a straight line. This is a truly broken market and starting to look more and more like Zimbabwe... The crazy thing is that Bernanke has painted himself into a corner. He simply can't stop the printing press or everything will come crashing down. I'm talking limit down for days.
