Tue Jan 10, 2017 9:13am ESTComments Off on New High Balance Forms; NASDAQ Holds onto Upper Rim445
NASDAQ futures are coming into Tuesday flat after an overnight session featuring normal range and volume. A new value formed yesterday/overnight while price held Monday range during the Globex session.
The economic calendar is light today. At 10am we have Wholesale Inventories, at 11:30am a 4-week T-bill auction and at 1pm a 3-year note auction.
Yesterday we formed a normal variation up. The day began with a slight gap up and the rest of the day we spent slowly drifting higher, up to new highs where responsive sellers were found, ending the day above the midpoint but back down near daily value.
Heading into today my primary expectation is for buyers to work up though overnight high 5026 and target 5034 before two way trade ensues.
Hypo 2 buyers press up to 5047.50 before two way trade ensues.
Hypo 3 seller press down through overnight low 5007.25 and test 5000 before two way trade ensues.
Hypo 4 strong sellers press down below 5000 setting up a move to target 4982.50 before two way trade ensues.
The most iconic police chase car of the 90’s is coming back. For real, Ford held a press conference Monday morning at Joe Louis Arena and said they’re bringing back the Bronco:
“We’ve heard our customers loud and clear. They want a new generation of vehicles that are incredibly capable yet fun to drive,” said Joe Hinrichs, Ford’s president of The Americas. “Bronco will be a no-compromise midsize 4×4 utility for thrill seekers who want to venture way beyond the city.”
Ford said the car will come out in 2020. It looks ultra-violent:
According to the Bronco6g website, the SUV made infamous by OJ Simpson will be built in ride-or-die Michigan, which ought to please out President-elect.
Mon Jan 9, 2017 8:59am ESTComments Off on NASDAQ Futures Preserve Last Week’s Gains; Balance Out And Hover Near All-Time Highs387
NASDAQ futures are coming into Monday flat after an overnight session featuring normal range and volume on a balanced session that held the upper quadrant of last Friday’s trend day.
The economic calendar is light this week. Today the only events are a 3- and 6-month T-bill auction at 11:30am, then Consumer Credit at 3pm.
Last week we kicked off 2017 with a gap up that sellers could not press into. Instead we spent the rest of the week trading higher, accented by a Friday trend day. Here is the performance of each major index last week:
Heading into today my primary expectation is for sellers to work down through overnight low 5002.50 and test the 5000 level where buyers step in and two way trade ensues.
Hypo 2 stronger sellers press down to 4982 before buyers step in and two way trade ensues.
Hypo 3 buyers work up through overnight high 5017 and continue higher, up to 5020 before two way trade ensues.
Tech Insider had a front row seat at the unveiling of the FF 91, an electric car slated as the first production car for Faraday Future, which is a car company named after a scientist.
Wow, cool idea, to name a car company after a scientist.
Faraday was a bad ass scientist, don’t get me wrong. It’s just that the whole idea of some global enterprise, funded by the Chinese, desperately trying to usurp Tesla Motors via poached talent and technology feels very Alibaba.
And along those lines—you get what you pay for.
The FF 91 presentation was an abomination. Within the first minute they identified themselves as having the feel of a ‘silicon valley startup’. Radical, so your company is teaming with over-entitled libtards with dumb names like Culture or Braxtynn?
Next, look at these presenters. Where’s the sex appeal? It’s gotta be sexy. Hips and nips, otherwise you don’t eat. Clearly they don’t understand the concept of a dog and pony show. This will hinder their ability to be a ‘Tesla rival’ bigly.
Perhaps imitation is the sincerest form of flattery, but don’t move on the GIGAFACTORY like a bitch. Trying to build an electric car plant in Tesla’s back yard, and failing, is grounds for a roast.
Finally, there are 12 FF 91 production cars.
There is nothing wrong with the spirit of competition. And to be frank, we’re all rooting for Faraday to rise to the ranks of Tesla rival. But it will be difficult as an adolescent Silicon Valley drama-fest. What Faraday lacks is clear.
Sun Jan 8, 2017 1:37pm ESTComments Off on Hard To Argue with Logic: iBankCoin Labs Find No Reason for Concern Heading into Week Two869
Greetings from the iBankCoin labs watchtower. At over 15,000 vertical feet of elevation, the observation deck allows for spectacular views of the financial landscape, and with it an honest conception for world affairs.
There is likely to be more action in the momentum space than the indices. When we float around all-time highs, there usually isn’t much opportunity for a fella like me to earn money. My market profile fire levels are are left below, and the rotations are often small and slow.
If I needed to engage the market next week, intra-day, to extract moneys, my attention would be on the Momentum screen inside Exodus. I would refresh it at 11am and again at 1:30pm and look for names setting up a nice pullback after an initial surge. I would buy said pullback, ride it back to intra-day highs (god willing) then GTFO and move to the next one.
The best part about building your own model using quality data, like the raw futures data I pipe in from IQFeed and the elegant algorithms inside Exodus, is you trust it and know when to act. There is no better approach to engaging the market than a consistently objective one.
Most people want to be told what to do. Unfortunately, they depend on others. I depend on robots. My robots. It’s better that way.
If you are good to your robots, they will be good to you. Keep them calibrated and oiled. Offer them zero time off but also a comfortable place to call home and appreciation for their service.
Despite my headline boldly claiming ‘no reason for concern’ there is one. The Russell 2000 began to turn lower at a curious level last week. It is the weakest looking index. Keep an eye on it this week to see if it can lead lower.
Otherwise, all is well in 2017. A new leadership shall be ushered in soon, one that promises to make the USA stronger than ever, and investors seem emboldened by these prospects. Yes, the rally is long-in-tooth, but the music is still playing—so keep dancing—monkey.
Exodus members, the 113th Edition of Strategy Session is published. Go check it out now. Three days hence its relevance is less. By Friday, practically useless. Now is when to read it. Go.
Third rule of Trend Day: engage every pullback. Fourth rule: always keep a runner. Fifth rule: one trade at a time, fellas. Sixth rule: trades are intra-day only. No overnight shit. Seventh rule: trends will go on as long as they have to. And the eight and final rule: if this is your first Trend Day, you have to trade.
Ladies and gentlemen, just two days after Exodus algorithms ended the Krampus Alert, and on the final day of trade in this first magnificent week of 2017, the NASDAQ goes out and prints a delicious and powerful trend day.
I am so fortunate to understand auction theory—the cornerstone of my trading approach—and how to supercharge it with “The Fly’s” fucking time machine. What for most was just another data point in a sea of information was for yours truly a nudge to flip my bias:
Trend days are the most powerful day type in auction theory. They tell us something going forward. They also offer tons of reward to their riders. In short, I did my job, and now I want to go back on vacation.
When you’re in the business of building the biggest factory in the world right here in AMERICA, it makes sense to align your company mission with an administration hellbent on MAGA. And while it seemed like common sense that Tesla would succeed under a Trump administration, it became even more evident when supreme leader Musk (all Praise and Glory to The Leader) joined the President-elect’s Strategic and Policy Forum in December. Now we’re hearing hints from electrek that our upcoming administration will be good for the clean energy industry.
Investors attending the event told Electrek that Musk said the following when his meeting with Trump came up:
“The President-elect has a strong emphasis on US manufacturing and so do we. We are building the biggest factory in the world right here, creating US jobs… I think we may see some surprising things from the next administration. We don’t think they will be negative on fossil fuels… but they may also be positive on renewables.”
When someone like Musk, who had access to Trump, says something like that, it’s significant. That could represent an important change in the perceived approach to renewables that the upcoming Trump administration has been taking.
It helps that Tesla employs more than 25,000 people in the USA already and wants to add another 10,500 to the roster.
So while the liberal front cringes from a belief that the world will resolve to a giant pile of carbon soot over the next four years, it seems their concern is misplaced. Shockingly enough, it seems a grand company like Tesla might be able to compete with traditional, dirty energy production without the government heavily sanctioning and restricting the fossil fuels industry.
No, instead the Great Emperor of a sustainable future will out hustle traditional energy production for the win, naturally.
Fri Jan 6, 2017 9:18am ESTComments Off on Solid Non-Farm Payroll Data Keeps Bidders in The NASDAQ488
NASDAQ futures are coming into Friday with a slight gap up after an overnight session featuring normal range and volume. Price worked higher overnight, moving up beyond the Thursday high after a Non-farm payroll data came in better-than-expected:
Non-farm Payrolls for Dec 156.0K vs 178.0K Est; Prior 178.0K
Unemployment Rate for Dec 4.70% vs 4.70% Est; Prior 4.60%
The economic calendar is otherwise light today. The Factory and Durable Goods orders data is out at 10am and Baker Hughes rig count is out at 1pm.
Yesterday we printed a normal variation up. After opening flat, a strong drive higher began the day and buyers became initiative during the afternoon, extending price higher and closing near session high.
Heading into today my primary expectation is for sellers to work into the overnight inventory and close the gap down to 4961.25. From there, buyers step in and press through overnight high 4970 and continue higher, up to 4984 before two way trade ensues.
Hypo 2 sellers press down through overnight low 44958.25. Look for buyers down at 4957 and two way trade to ensue.
Hypo 3 stronger sellers work down to 4944.25 before two way trade ensues.
Thu Jan 5, 2017 4:05pm ESTComments Off on iBankCoin Labs Krampus Alert Lifted; Children Run Free, Enriched With Christmas Gains1119
While tomorrow shows a slight statistical edge for a range extension down (per an outdated 3 consecutive unidirectional days study) and while the Russell futures are attempting to turn lower at a curious level (from Exodus Strategy Session) the KRAMPUS ALERT issued before Christmas has been lifted.
I scratching my $QID position in a non-event of a round-trip, but the alert still proved indispensable. Over the course of our Krampus conditions, the /NQ_F went range extension down 8 out of 12 days.
Two of the days when the NASDAQ didn’t go range extension down it offered huge morning rallies that faded.
Thus for ten days, or 83% of the time, it made sense to have a short bias, intraday. Some of you may not grasp how valuable that edge can be. For a small group who cares to study auction theory, good times.
It appears investors who held through the alert, long stocks, were good little boys and girls this Christmas—for they managed to escape the wrath of Krampus instead being showered with massive gains and winship on a national level.
iBC Labs threat level has been reduced to to Blue.
Exodus members, stay abreast with the Exodus Strategy Session. With a naked eye, it appears we are still near RCS conditions. The next report will be out Sunday around noon.
However, also take a look inside the community notes regarding some observations of the system-wide algos.
Noobs, if you have any questions about my esoteric readings of the algorithms, auction theory, or plain old trading 101, fire away. I’m grateful to understand many of these concepts and to be among others who are curious.
Thu Jan 5, 2017 1:35pm ESTComments Off on NASDAQ Transportation Index Traps Short Sellers Right Off The Rip349
The NASDAQ Transportation index is currently performing one of the stock market’s favorite pastimes, converting former resistance into support.
If you only understand this one tenant of technical analysis, you will be a long way towards better risk management and position entry.
In early December the TRANX.X broke up through prior all-time highs. Since then price has retraced, right back down into the prior resistance. Low-and-behold, a bid is present:
The index made a powerful move out of consolidation in November, declaring a definitive and explosive victory for bulls. Going forward, we need to monitor whether or not investors become initiative, allocating more funds to the economically sensitive industry-group as the year matures. So far, bulls remain in control.