60Stoch- provided another great trade! Interestingly,

Posted by elementsix on 11th of Jul 2024 at 01:18 pm

60Stoch- provided another great trade! Interestingly, if you trade this as an EOD indicator, you'll exit today but just might get a prelim re-entry signal. Another down day would certainly strengthen that signal.

I like it!  But, I

Posted by DigiNomad on 11th of Jul 2024 at 01:23 pm

I like it!  But, I just took a close look and I'm wondering are you playing the barely perceptible cross on the 60 or something else about the 60? It looks like a lot of the other indicators gave a pretty good signal yesterday.  Any thoughts on that?

LABU Updated

Posted by steve on 11th of Jul 2024 at 01:13 pm

LABU - Chart Link - money bag  Money Mouth

Trading level to level sounds

Posted by DigiNomad on 11th of Jul 2024 at 01:04 pm

Trading level to level sounds great, and it's mostly what I do these days, but it still helps to know why things are doing what they are doing (to some extent...there will always be mysteries).  The prop trading site I frequent during the day had 80% of all their traders bust their accounts (daily max loss) in the first 3 hours today. Those are traders who ONLY trade level to level and think everything else is just noise. 

Guess they had bad levels 

Posted by steve on 11th of Jul 2024 at 01:07 pm

Guess they had bad levels 

There are multiple reasons for

Posted by steve on 11th of Jul 2024 at 01:05 pm

There are multiple reasons for every move - thus focus on PRICE 

But I'm up on a

Posted by DigiNomad on 11th of Jul 2024 at 01:07 pm

But I'm up on a day when 80% at the firm are down (actually busted). So, for me, not just focusing on price seems to work. To each his own, I just thought it was interesting how many people had busted so quickly on a relatively minor down day.

Most busted on the whipsaw near the open, from what I'm hearing.  Didn't have to be that way if they had a working thesis about CPI data that backtested well against the last year or so worth of prints (e.g. inflation inflates and disinflation does the opposite)

What do you mean busted?

Posted by mastermind on 11th of Jul 2024 at 01:15 pm

What do you mean busted? They're all broke now all of a sudden? Doesn't make sense. 

HUT I think the next

Posted by bigg on 11th of Jul 2024 at 12:52 pm

HUT I think the next bounce will be over 18

HUT is in a trading

Posted by bigg on 11th of Jul 2024 at 12:48 pm

HUT is in a trading range  15.24 at the close to 16.69 today but fading fast.

This is interesting from Goldman: "The

Posted by DigiNomad on 11th of Jul 2024 at 12:45 pm

This is interesting from Goldman:
"The AI trade is under increasing scrutiny. The average stock involved in the infrastructure build-out of AI has returned 26% YTD, but stocks with enabled revenues fell by 19% between February and May. Goldman says that investors are increasingly concerned about the potential returns to the hyperscalers' AI investment spending."

My take - of course this is how the chart is going to look at this stage. The gains will come when they massively reduce human employment in the loop. Until then, it's cost on top of cost. The human downturn is coming though - patience will be rewarded (for those with enough capital).

HYG

Posted by matt on 11th of Jul 2024 at 12:41 pm

HYG - Chart Link- see comments on the chart, I discussed the flatish slope on HYG last night, wedges like that more often than not break up instead of down -the slope needs to be steeper for a more bearish wedge.  Again price could reverse, but for now it's slightly out of the wedge

XLI follow up

Posted by matt on 11th of Jul 2024 at 12:37 pm

XLI - Chart Link- testing downtrend line

AMT very nice

Posted by matt on 11th of Jul 2024 at 12:34 pm

AMT - Chart Link-, glad I didn't sell it, I almost did as I was getting bored with it, but really there was no reason to sell it as it was trading inside the bull pennant pattern, nice breakaway gap today

TSDD nice trigger

Posted by matt on 11th of Jul 2024 at 12:01 pm

TSDD - Chart Link-

TSDD - Chart Link-

Update: TSDD nice trigger

Posted by matt on 11th of Jul 2024 at 12:36 pm

TSDD - Chart Link- again triggerd today, pulled back some off the highs

TSDD - Chart Link- the 60 min had a nice volume break on that divergent channel - a small pullback is fine here as long as it holds the channel trendline. There was very nice MACD divergence here, so I think there's potential that it goes up again after a little pullback here

THANK YOU, MATT, GOT LUNCH

Posted by johnpaw1 on 11th of Jul 2024 at 12:05 pm

THANK YOU, MATT, GOT LUNCH SO FAR

Was wondering why breath was

Posted by EdZ on 11th of Jul 2024 at 11:56 am

Was wondering why breath was strong today.  XBI, XLE, XLF, XLU, XLV all up nicely today.

The immaculate squeeze requires good

Posted by DigiNomad on 11th of Jul 2024 at 11:58 am

The immaculate squeeze requires good breadth on days like today...

SMH Views

Posted by steve on 11th of Jul 2024 at 11:52 am

NVDA rug pull as Ed

Posted by mdgfain on 11th of Jul 2024 at 11:49 am

NVDA rug pull as Ed suspected. Any thoughts on whether we get a bounce-back or go  all the way to demand zone?  Thanks. 

commented yesterday after close that

Posted by steve on 11th of Jul 2024 at 11:43 am

commented yesterday after close that I favored a  soft CPI watch for blow off top reversal

I discussed last night for

Posted by matt on 11th of Jul 2024 at 12:12 pm

I discussed last night for those who actually listen to the newsletters

DIGI

Posted by DigiNomad on 11th of Jul 2024 at 11:56 am
Title: DIGI

is this twitter? LOL 

Posted by kingpin15 on 11th of Jul 2024 at 12:04 pm

is this twitter? LOL 

I think you're joking, but

Posted by DigiNomad on 11th of Jul 2024 at 12:13 pm

I think you're joking, but I posted that here on BPT at 4:02 yesterday  (in case you're not joking). Anyway, same post I've put up at the close on CPI day for the last probably 8 months or so. Nothing new - it keeps working.  I regret NOT posting in on my twitter   

I didn't even care about

Posted by steve on 11th of Jul 2024 at 12:23 pm

I didn't even care about CPI - market was stretched only thing was CPI for timing today vs yesterday's close.  August is worst month for outflows so let's see - level to level.  Currently view as temporary retacements under mapping.  

August worse than September?

Posted by mastermind on 11th of Jul 2024 at 01:12 pm

August worse than September?

Here you go mastermind -

Posted by steve on 11th of Jul 2024 at 01:15 pm

Here you go mastermind - this relates to equity flows (past performance no guarantee)

Source: GS

I'm always thought of September

Posted by mastermind on 11th of Jul 2024 at 02:02 pm

I'm always thought of September being the worst month performance-wise. Maybe there's a delayed effect relative to the inflows?

Yes they are not one

Posted by steve on 11th of Jul 2024 at 02:06 pm

Yes they are not one and the same - again trade the charts 

all good my man, nice

Posted by kingpin15 on 11th of Jul 2024 at 12:18 pm

all good my man, nice call

SPY -  one way I

Posted by DigiNomad on 11th of Jul 2024 at 11:42 am

SPY -  one way I like to use the systems is to buy when price comes in close to the STS for a higher R/R play.  This would be nearing that place on SPY today. 

SPY - I just got

Posted by DigiNomad on 11th of Jul 2024 at 12:29 pm

SPY - I just got the reversal pattern / setup trigger I look for on the 30 sec tf.  Taking a shot.

That was an easy 60 cents. leaving a runner. 

Matt, you called it perfectly!

Posted by icecoldjones on 11th of Jul 2024 at 11:42 am

Matt, you called it perfectly! Not sure if anyone has mentioned that but he said the CPI would come in soft, the market would initially pop on the news and then sell off after. Kudos!

FNGU Chart 

Posted by EdZ on 11th of Jul 2024 at 11:40 am

TSDD.   Shaping up

Posted by Glad on 11th of Jul 2024 at 11:40 am

TSDD.   Shaping up


It sure is. Bought some

Posted by EdZ on 11th of Jul 2024 at 11:42 am

It sure is. Bought some earlier and just checked it. 

GERN—nice volume today. Chasing highs

Posted by shellson2 on 11th of Jul 2024 at 11:36 am

GERN—nice volume today. Chasing highs from early June

Maintaining  strong volume

Posted by shellson2 on 11th of Jul 2024 at 01:17 pm

Maintaining  strong volume

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