iBankCoin
I turn dials and fiddle with knobs to hone in on harmonic rotations
Joined Oct 26, 2011
3,108 Blog Posts

NASDAQ Up a Few Points Headed into Friday

NASDAQ futures are coming into Friday higher after an overnight session featuring normal range and volume.  Price worked higher, slowly overnight exceeding the Thursday high as we head into cash open. At 8:30am Personal Consumption data came out below expectations.

There are no other economic events today.

Yesterday we printed a normal variation up.  The day began with a gap down inside range with support below.  After a brief two-way open we worked higher to close the overnight gap before settling into a dull two-way range.

Heading into today my primary expectation is for buyers to gap-and-go up, targeting a move to 5961.25 before two way trade ensues.

Hypo 2 stronger buyers press to 5979.50 before two way trade ensues.

Hypo 3 sellers work into overnight inventory and close the gap down to 5938.75 then down through overnight low 5933.75.   Look for buyers down at 5922.50 and two way trade to ensue.

Levels:

Volume profiles, gaps, and measured moves:

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Range Gap With Support Below: Here Is The Thursday NASDAQ Trading Plan

NASDAQ futures are coming into Thursday gap down after an overnight session featuring normal range and volume.  Price worked lower overnight but held inside the Wednesday range.  At 8:30am several economic data were released including GDP, advance goods trade balance, and initial/continuing jobless claims.  All were better than expected save for initial/continuing claims data which were mixed.

The only other economic event is a 7-year note auction at 1pm.

Yesterday we printed a neutral extreme up.  The day began with a gap up and drive higher, up into resistance noted in hypo 2 from the Wednesday morning report.  Then sellers began working lower, eventually going range extension lower late in the morning.  However, buyers defended an attempt back into the Tuesday range and this triggered a rally back up through the days range to press up into neutral territory and eventually to a close in the upper quad of the day’s range earning the neutral ‘extreme’ designation.

Heading into today my primary expectation is for buyers to work into the overnight inventory and close the gap up to 5941.  From here we continue higher, up through overnight high 5948.25 which sets up a move to 5961.25 before two way trade ensues.

Hypo 2 stronger buyers press to close the gap at 5978.25 before two way trade.

Hypo 3 sellers press down through overnight low 5916.75 and find buyers down at 5914.50 before two way trade ensues.

Hypo 4 stronger sellers press down to close the gap at 5892 before two way trade ensues.

Levels:

Volume profiles, gaps, and measured moves:

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Back on Tuesday High // Buyers Engage The NASDAQ Overnight

NASDAQ futures are coming into Wednesday gap up after an overnight session featuring normal range and volume.  Price worked higher overnight, briefly poking above the Tuesday high before balancing out.  At 8:30am durable goods orders was a solid beat, well above analyst expectations.

Also on the economic calendar today we have pending home sales at 10am, crude oil inventory at 10:30am, a 2-year floating rate auction at 11:30am, and a 5-year note auction at 1pm.

Yesterday we printed a normal variation down.  The day began with a gap up and open auction.  Then sellers stepped in and worked the gap fill.  Sellers continued a touch lower to tag the naked VPOC from Monday before a responsive bid stepped in and two-way trade ensued.

Heading into today my primary expectation is for buyers to gap-and-go up.  Look for a move to 5923.25 before two-way trade ensues.

Hypo 2 stronger buyers drive up to close the open gap at 5934.75 then continue to 5937 before two way trade ensues.

Hypo 3 sellers press into the overnight inventory and close the gap down to 5892.  Sellers continue lower, down through overnight low 5886.50.  Look for buyers ahead of 5883 and two way trade to ensue.

Levels:

Volume profiles, gaps, and measured moves:

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ANNOUNCEMENT: RAUL to host 2nd Detroit Investor Conference next Tuesday

Tuesday, October 3rd at 5:30pm Detroit a gathering of minds will occur high above iconic Woodward avenue in Detroit.  This will be our second meet-up and investor conference.

The first conference had an excellent turnout.  Look at all of us, discussing stuff and things:

The second Detroit Investor Conference will be a bit more interactive.  I am going to build the third installment of my systematic investment portfolio live.  Then we will do some q-and-a and chat about trading and investing.

There will be free beer.  There will be free food.  I am debating what food, but if all else fails we shall again do pizza.  My aging organs cannot handle pizza and the wretched swill they call ‘craft beer’ well.  There will also be coffee.

WeWork Merchants Row also has a filtered tap from which to draw water.  Hopefully the filtration is of a small enough micron to separate out the micro plastics that pollute 94% of tap water in the USA.  You may want to purchase water drawn from the aquifers of Fiji ahead of the conference if you are concerned about the filtration abilities of the venue.

Quick recap: StockTwits put me in charge of organizing the Detroit Meet-up group.  Since I am a bit extra, and since Detroit does everything a bit grimier and more aggressively than other city centres, it has evolved into a more hands on conference.

I will do my best to broadcast a portion of the conference live on iBankCoin YouTube.  It is my hope that we can expand the live cameras to include one that displays my entire body, which is filled with youth and vigor.  But all technology will be attempted Johnny on-the-spot, and to be frank, none of us are live media experts.  So bear with us as we work out the kinks.

If you are within Tesla driving range of Detroit, like perhaps as far as Toronto, then it would behoove you to attend this conference.  You can RSVP on the Meetup page.  Here is a link to the Meetup page:

a link to the Meetup page

Last meeting drew a variety of investors and traders from different backgrounds and there we insights to be gained by all.  We already have 15 people signed up for next week’s event, and I also have some private investors who will be in attendance but prefer to remain anonymous.  If you have an elevator pitch for a business you have been developing, it makes sense to polish it up and bring it.  There will be some money goons lurking around, sharking for deals.

But do not let that intimidate you.  All are welcome.  Any experience level.

We are going to discuss systematically building a portfolio in this second conference because most people need to save up capital before they can even consider a more active form of trading.  I will present the methods I use to build a trading nut.

In the future, we will dive into shorter term trading.  But first, we must build that nut.

So we can talk about side hustles too.  The city is bustling with hustlers of all make and model.  For most people, it takes more than a steady salary gig to build up the cash flow and capital to take on active trading.

Come on down to Merchants Row next week and lets talk about dominating the financial markets and business.

here is the link again to RSVP

ciao

 

 

 

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Strong Overnight Session Sees NASDAQ Back Near Monday High

NASDAQ futures are coming into Tuesday gap up after an overnight session featuring elevated range and volume.  Price worked higher overnight, balanced at times and then rallying early this morning.  Overall the action was contained inside of the Monday range and as we approach cash open we are hovering near the Monday high.

The economic calendar features consumer confidence at 10am, a 4-week T-bill auction at 11:30am, and a 2-year Note auction at 1pm.

Yesterday we printed a double distribution trend down.  The day/week began with gap down and drive lower.  An initial responsive bid was overrun by more selling, pressing what looked like a morning liquidation.  We probed new monthly lows, testing prices unseen since August 29th.  Then, near the end of the session we ramped higher, back to the day’s midpoint.

Heading into today my primay expectation is for sellers to press into the overnight inventory and close the gap down to 5877.50.  From here we continue lower, down through overnight low 5862.75 before two way trade ensues.

Hypo 2 buyers defend around 5883.25 and we press up through overnight high 5904.25.  Look for sellers up at 5912.25 and two way trade to ensue.

Hypo 3 buyers gap-and-go higher, up through 5912.50 to target 5922 before two way trade ensues.

Levels:

Volume profiles, gaps, and measured moves:

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NASDAQ Probes Lows from Last Week Heading into Monday

NASDAQ futures are coming into Monday gap down after an overnight session featuring elevated range and volume.  Price spiked higher Sunday evening, up above the Friday high before finding a responsive sellers.  We then spent the rest of the evening working lower and as we approach cash open price is accelerating down through last week’s low.

The economic calendar is light all week, and today we have only a 3- and 6-month T-bill auction to be concerned with at 11:30am.

Last week the NASDAQ worked lower while the S&P marked time (sideways) and the Dow and Russell rallied.  Here is the performance of each major index last week:

On Friday the NASDAQ printed a normal variation down.  The day began with a gap down and a brief probe below Thursday’s low before a responsive bid stepped in and drove price higher.  Buyers could not, however, close the overnight gap.  Instead we worked back lower again, eventually going range extension down before two-way trade ensued.

Heading into today my primary expectation is for buyers to work into the overnight inventory and close the gap up to 5934.75.  From here we continue higher, up to close the Thursday gap at 5943.75 before two way trade ensues.

Hypo 2 sellers gap-and-go lower, down to 5884.25 before two way trade ensues.

Hypo 3 stronger buyers press up through overnight high 5954.25.  Look for sellers up at 5961.50 and two way trade to ensue.

Levels:

Volume profiles, gaps, and measured moves:

 

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No Signals Heading into Month-end; iBC Labs Neutral

Greetings lads, the 149th edition of Exodus Strategy Session is live.  The algorithms that we use to form a directional bias are all neutral.  There is a slight, very slight hint that bulls will be in control.

Pair that with markets hovering at record highs and it seems like favoring longs is the move next week.

Aside from the report, it is currently about 90 degrees in Michigan in the fall.

Good time to find someone who has not closed their pool yet and have a chill and relax.  That is exactly what the team of scientists at iBC labs intends to do.

Good day to you.

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Sellers Press To New Weekly Low Overnight; Here Is The Friday Trading Plan

NASDAQ futures are coming into Friday gap down after an overnight session featuring elevated volume on normal range.  Price worked down through the Thursday low overnight before finding a modest bid.  As we approach cash open, price is hovering right around the Thursday low.

The only economic event of note today is the Markit data dump of Manufacturing/Service/Composite PMI data at 9:45am.

Yesterday we printed a normal variation down.  The day began with a gap down and drive lower, leaving the open gap behind.  After about an hour of sellers controlling the market and pressing to a new low on the week, responsive bidders stepped in and two-way trade ensued.

Heading into today my primary expectation is for a gap-and-go lower.  Look for sellers to press down through overnight low 5911 and tag the 5900 century mark before two way trade ensues.

Hypo 2 buyers sustain trade above 5919.50 setting up a gap fill up to 5943.75.  From here we continue higher, up through overnight high 5947.50.  Look for sellers just above at 5948 and two way trade to ensue.

Hypo 3 stronger sellers press down to 5884.50 before two way trade ensues.

Levels:

Volume profiles, gaps, and measured moves:

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The Drift: NASDAQ Still Marking Time

NASDAQ futures are coming into Thursday with a slight gap down after an overnight session featuring normal range and volume.  Price worked sideways overnight in balanced trade that held the Wednesday range.  At 8:30am Initial/Continuing jobless claims data came out mixed.

Also on the economic agenda today we have Leading Indicators at 10am and a 10-year TIPS auction at 1pm.

Yesterday we printed a normal variation down.  The day began flat and by late-morning sellers were driving price lower.  Then we slowly drifted back up as investors waited for the Fed’s 2pm rate decision.  After the Fed left their benchmark borrowing rate unchanged at 100-125 basis points sellers again engaged the market—pressing us to new lows for the day.  After one more methodical rotation up, then again down, a strong bid entered the market and we ramped back up to pre-fed announcement levels.

Heading into today my primary expectation is for buyers to work into the overnight inventory and close the gap up to 5978.25.  From here we continue higher, up through overnight high 5982 setting up a move to tag the naked VPOC at 5992.75 before two way trade ensues.

Hypo 2 stronger buyers press to 6006.50 before two way trade ensues.

Hypo 3 sellers press down through overnight low 5963.75 and sustain trade below 5940 setting up a move to target 5919.25 before two way trade ensues.

Levels:

Volume profiles, gaps, and measured moves:

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Countdown To FOMC: NASDAQ Still Flat

NASDAQ futures are coming into Wednesday flat after an overnight session featuring normal range and volume.  Price worked sideways, inside of the Tuesday range during balanced trade.  At 7am MBA mortgage applications came out much lower than last week.

Also on the agenda today we have Existing Home sales at 10am, crude oil inventory at 10:30am, and the FOMC rate decision at 2pm.

Consensus among traders is that the Fed will leave their benchmark borrowing rate unchanged at 125 basis points (free money).

Yesterday we printed a normal variation up.  Price made a tiny thrust lower early on but held Monday range.  Then we spent the rest of the day slowly grinding higher, marking time.

Heading into today my primary expectation is for buyers to press into the overnight inventory and work up through overnight high 5998.25.  We continue higher, up to 6003.75 before two-way trade ensues ahead of the Fed decision.  Use third reaction analysis post-Fed decision to dictate direction into end of day.

Hypo 2 sellers press down through overnight low 5987.75 and continue lower to 5980 before two-way trade ahead of decision.  Third reaction post-Fed for direction into end of day.

Hypo 3 stronger sellers down to 5961.25 before two way trade ahead of Fed.

Levels:

Volume profiles, gaps, and measured moves:

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