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Still Neutral: iBankCoin Labs Has No Bias into Mid-July

Greetings from the northeastern coast lands of America.

The air is brisk and smells clean.  The wind is fresh and the water is clear.  While tick infestations have managed to climb into the mid west, pest conditions up yonder are safe.

In town there are 375 different coffee shops offering blistering fast wifi, and with it contact was made with Mothership, which runs on Jet Fuel Only.  Mothership was commanded to make several passes over the financial markets and assess the behavior of the auctions.

While they seem somewhat healthy, no clear directional forecast emerged from the systems.

Therefore we are neutral, and overall just happy to be here.

July is a fine month to explore lands often dominated by arctic winds and hellish ice.  But remember, water always wins.

Exodus members, the 139th edition of Strategy Session is live, enjoy!

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Holiday Trading Kicks in Soon: iBankCoin Labs Heads into Month-end Blind

Greetings from the cool northern planes lads!

It is with humility, and three days without hot food that the good scientists of iBankCoin labs took to the satellites to connect with mother ship and prepare a strategy session for the end of June.

Last week we came out with a bearish call.  Come Monday, before we even had a chance to take action, the market made it evident that selling was a fool’s errand.  A pro gap up and opening drive higher nullified the Sunday reading.

Sometimes you have to improvise if you intend to survive.

Therefore, it comes as somewhat of a relif that the systems generated a neutral reading heading into next week.  Neutral, barely, by 0.02.  Still, the model is neutral.

We are headed into month end, and into a weekend most 9-5 corporate slaves will use to celebrate AMERICA earning its independence.  Then they will independently imprison themselves back to their low-purpose job.  Summers were intended for man to fart around, following whichever whim pulls at him most.  Do not let anyone tell you otherwise.

Models are neutral, the heat wave has passed, we are blind headed into July.

Exodus members, the 137th Edition of Strategy Session is live, go check it out!

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NASDAQ Flush With Gains; Here’s Your Mid-morning Trading Plan

NASDAQ futures are coming into the week gap pro gap up after an overnight session featuring elevated volume and range.  Price worked higher during all of extended trade, trading up into last Wednesday’s range.

The economic calendar is extremely light this week and today is no exception.  The only scheduled events today are T-bill auctions, 3- and 6-month auctions at 11:30am.

Last week we traded sideways, more-or-less.  The week began with a hard sell then we drifted.  During this time the Dow Jones diverged higher.  Below is the performance of each major index last week:

On Friday, the NASDAQ printed a normal variation down. Price opened nearly flat, just a slight gap down which buyers were unable to close.  Instead we drove lower early on.  Sellers ultimately could not take out the Thursday low and we instead settled into two-way trade.

At the open the /NQU7 (September ’17 contract, current front-month) printed an open-test-drive up. Price traded up the the Exodus Strategy Session’s weekly ATR band before churning sideways for a bit.

Heading into today my primary expectation is for sellers to defend the measured move level at 5725.75 sending us lower to test last Friday’s high 5707.50.  Buyers defend ahead of 5700 and two way trade ensues.

Hypo 2 buyers sustain above 5752.75 setting up a move to target 5775.25 before two way trade ensues.

Hypo 3 pole climb. Price sustains above 5777 setting up a trend up to 5876 before two way trade ensues.

Levels:

Volume profiles, gaps, and measured moves:

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Watching Bill Nye and Bernie Sanders Explain Climate Change Facts on Facebook Is Your Job Today

If you only do one thing today, let it be watching that nice old man Bernie Sanders, who totally would have won the American President contest, host everyone’s favorite pop scientist Bill Nye for a conversation on Global Warming.

The fact-laden conversation goes down live, today, on Mark Zuckerberg’s devious platform, at 10:30am eastern.

If you only do two things today, let the second be to inform the biggest conservatard in your life that this live event is going to be lit (you may have to translate ‘lit’ to ‘a real sock hop’).  Perhaps it will trigger them so they can look like a dumb galoot over on Facebook.

Here’s a link to Uncle Bernie’s Facebook page, the venue for today’s free show:

https://www.facebook.com/senatorsanders/

 

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Why Is Twitter on Instagram and Paying for Followers?

Twitter is many things to many people.  For my niece and her friends it’s a giant group chat.  I count on my stream to interact with some of the most intelligent traders in the world.

They say Trump’s rise to the presidency is fueled on tweets.

So it’s powerful and valuable.  But it’s been a terrible stock to own.  I have tons of it.  From higher.

And just when I thought they couldn’t do anything else dumb, I have to stop and wonder why the hell they opened an Instagram account and began running promoted content Thursday.

So far they’ve posted three punctuation marks and hashtag Statue of Liberty.

Screenshot_20170119-224905~2

If Twitter is promoting their content in the traditional way, then they’re shelling out money to Facebook, owner of Instagram, and in return gaining one of the internet’s most highly coveted achievements—an audience.  Usually these ‘followers’ are phantom accounts who produce little if any interaction.

Twitter has to know this.  Why would they pay for it?  Perhaps they didn’t….

Could Facebook be dropping subtle hints that they’re preparing to blob Twitter into their social media hedgemony?

 

Developing…

 

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Tomorrow Obama Will Decide Whether or Not to Start World War 3

The operative word here is start.

Obama and his neocon foreign policy advisers are going to meet tomorrow to discuss whether or not they should begin targeting Syrian forces. They will promote this as a cause to end the carnage in Aleppo, which we started and caused by permitting weapons to be moved from Libya to Syria — not to mention the power vacuum caused by a premature exit from Iraq.

Unlike Russia, we’re technically and fundamentally invaders in Syria. Demonizing Assad is pointless, when in fact the alternative is far worse.

Some top officials argue the United States must act more forcefully in Syria or risk losing what influence it still has over moderate rebels and its Arab, Kurdish and Turkish allies in the fight against Islamic State, the officials told Reuters.

One set of options includes direct U.S. military action such as air strikes on Syrian military bases, munitions depots or radar and anti-aircraft bases, said one official who spoke on condition of anonymity to discuss internal deliberations.

This official said one danger of such action is that Russian and Syrian forces are often co-mingled, raising the possibility of a direct confrontation with Russia that Obama has been at pains to avoid. U.S. officials said they consider it unlikely that Obama will order U.S. air strikes on Syrian government targets, and they stressed that he may not make any decisions at the planned meeting of his National Security Council.

One alternative, U.S. officials said, is allowing allies to provide U.S.-vetted rebels with more sophisticated weapons, although not shoulder-fired anti-aircraft missiles, which Washington fears could be used against Western airliners.

Sure, this makes plenty of sense. Give these fuckers sophisticated weaponry so that they could wreak havoc with it and install Islamic theocracies. How is this not evident to the pseudo journalists in the media? The rebels are terrorists, plain and simple, allied with Al-nusra aka Al Qaeda.

But Russia hacked John Podesta’s idiotic email box, so that means it’s okay to endanger 7 billion people, including 350m Americans.

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All The Action Is Found Trading Stocks

The index trader and the index investor are getting a bad deal right now.

These trading conditions are prime for error if you only trade an index.

Ranges are tight. Every globex session is normal. Rotations rarely have follow-thru.

The action is slow and getting caught full size into the lunch lull is a recipe for disaster.

Your sugars tank then little things can irritate you. Objective thinking is abandoned and gut decisions override your plan. Maybe you trade more size than normal since range is so small. Then poof, two-months of gains given back in one trade.

Trading from the outside-in usually works best in these conditions–fading the big moves using market profile levels.

Or you can switch over to trading stocks. I have not put the work in yet to get back into trading stocks, but if I even thinking about buying a stock I would be taking advantage of the free After Hours trials going on this week.

It is iBankCoin’s daily broadcast where Option Addict lays out a contextual framework then sets up stocks to trade. Members have been killing it in this slow, trending tape.

I will stick to NASDAQ futures because my planning and statistics and charts and order flow feel give me an edge. When it’s slow I just back off. But soon, when I’m ready to commit more time to work and grind out stocks, you best believe I will be watching After Hours. You should too.

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U.S. Stocks Rise From Hellish Depths; Bust Through June Highs

The bull market is back to asserting its dominance heading into the first official weekend of July.

Leading the charge is auto dealerships as cheap fuel inputs and low interest rates empower salesmen to sell vehicles like hotcakes.  The real story is what is happening with semiconductors.  This was a key focus of the Exodus Strategy Session last week, what the chips did.  They came into the week in a sketchy spot but alas, they are one of the strongest industries in show, BEHOLD:

image

One cannot ignore this event and stubbornly remain fixed on a bearish bias.

Furthermore, let it be known, the research team at iBankCoin was all over this move.  We were confident Tuesday would be weak but a headfake.  In short, iBC wins again.

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NO ONE’S BUYING

Heading into lunch, this market is not looking lazy.  Price is busy exploring lower in a desperate campaign to reveal buyers.

Early on the NASDAQ put on a  bit of a show by oscillating 30 handles, back-and-forth, in 2 minute increments.  The moves look like EKG bursts as the higher time frame slugged each other in the face, Ali vs Fraser style.

It eventually gave way to more selling.  Although it is true every transaction on the market has one buyer and one seller, right now no one is buying.  Liquidity is low and we are on the verge of another credit crisis.

The market is having one last extreme bipolar fit before the year end–thus assuring itself nothing but coal and a straight jacket for Christmas.

Hohoho

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Big Surge Triggers Change To Plan

Despite having a bad read on the FOMC reaction I managed to have a decent day. It helps we had a massive rally and my book is without hedge. Naturally I want more.

My largest positions do not put in work like these index moves, they just sort of sit on the sideline fawning the FANG prowess.

More importantly, and much to my chagrin, I missed a big win that Exodus served on a silver platter because the oh shit model had me bearish on Monday. NOTICE: henceforth said model signal will be named the Bunker Buster (h/t Uncle Buccs) and will not be interpreted as bearish. It has always occurred at-or-near lows so it will be considered a BONUS if Exodus already goes oversold.

BOOM: Solutions. We do not wallow in setbacks over here.

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