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Post by huh on Mar 10, 2017 7:57:10 GMT -5
10 things you need to know before the opening bell (SPY, SPX, QQQ, DIA, FB) Here comes the jobs report. The US economy is expected to have added 200,000 nonfarm jobs in February as the unemployment rate slipped to 4.7%, according to the Bloomberg consensus. Additionally, average hourly earnings are expected to have increased by 2.8% year-over-year. The report will cross the wires at 8:30 a.m. ET. South Korea's president is out. In a decision that's "final and unchallengeable," South Korea's Constitutional Court has removed President Park Geun-hye from office as a result of her corruption scandal. Mnuchin asks Congress to raise the debt ceiling. Treasury Secretary Steven Mnuchin sent letters to congressional leaders on Thursday asking them to raise the debt ceiling by midnight on March 17 to prevent the Treasury from needing to take "extraordinary measures" for the federal government to keep paying its bills. Oil is stabilizing. West Texas Intermediate crude oil trades up at 0.3% at $49.61 a barrel. Friday's bid comes after the energy component lost almost 7% over the previous two sessions in response to Department of Energy data showing US inventories swelled to a record high. Bitcoin is unchanged ahead of the big SEC decision. The cryptocurrency holds at $1,200 a coin as traders await the US Securities and Exchange Commission's decision on whether it will approve at least one of the three proposed bitcoin-focused exchange-traded funds by the Saturday deadline. Because the deadline falls on a Saturday, the announcement could come as late as Monday. Jeff Sessions rattles the marijuana industry. "Marijuana is against federal law, and that applies in states where they may have repealed their own anti-marijuana laws," US Attorney General Jeff Sessions told conservative radio host Hugh Hewitt on Thursday. "And I'm not in favor of legalization of marijuana. I think it's a more dangerous drug than a lot of people realize." Facebook reaches a deal to stream soccer matches. Facebook, the Spanish-language broadcaster Univision, and Major League Soccer have reached an agreement in which Facebook will stream at least 22 regular-season matches, The Wall Street Journal reports. Stock markets around the world are higher. Japan's Nikkei (+1.5%) led the gains in Asia, and Spain's IBEX (+0.9%) sets the pace in Europe. The S&P 500 is on track to open higher by 0.4% near 2,375. Earnings reports trickle out. Vail Resorts will release its quarterly results ahead of the opening bell. US economic data is light. Aside from the jobs report and everything associated with it, traders will be watching the 1 p.m. ET release of the Baker Hughes rig count. markets.businessinsider.com/news/stocks/opening-bell-march-10-2017-2017-3-1001823652
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Post by huh on Mar 10, 2017 7:57:55 GMT -5
10 things in tech you need to know today 1. Airbnb raised a $1 billion funding round that values the company at around $31 billion. The San Francisco company was profitable in the second half of 2016. 2. Mark Zuckerberg and Priscilla Chan are expecting another baby girl. The baby will be their second child after their 1-year-old daughter, Max. 3. WhatsApp is letting a handful of startups test its business chat tools. The tests, which are being conducted with companies that are part of the Y Combinator startup incubator, are an important signal of how WhatsApp plans to make money from its massively popular service. 4. Twitter has shut down its office in Berlin, which was home to around 20 people. The office was on the first floor of the Factory Berlin tech hub, which is also home to teams from Uber and Pinterest. 5. There is a secret "success rate" hidden in all your Tinder photos. Analysis suggests that heterosexual men have a significantly lower success rate than women. 6. A bug in Google's Accelerated Mobile Pages (AMP) could be responsible for falsely inflating publishers' traffic numbers. It was first spotted on the blog of SEO consultant Christian Oliveira. 7. North Korean tech is making "amazing" leaps forward. That's according to Florian Grunow, a security researcher who studies devices and software coming out of North Korea. 8. Snapchat has opened a new store for Spectacles in Los Angeles. The retail store is just a stone's throw from its headquarters in the beachtown Venice, California. 9. Facebook would "love" to acquire Snap Inc. if shares dipped to $14, FBN Securities analyst Shebly Seyrafi said in a note to clients. Facebook has the balance sheet to make a large acquisition, with $30 billion in cash and investments on hand at the end of 2016. 10. Amazon might start providing food, WiFi, and water at music festivals. The firm is looking for a senior program manager to "dramatically improve" the experience of the 32 million people that attend music festivals in the US each year. www.businessinsider.com/10-things-in-tech-you-need-to-know-today-march-10-2017-3
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Post by huh on Mar 10, 2017 7:58:38 GMT -5
Frontrunning: March 10 Futures rise as investors count down to jobs report (Reuters) Individuals Tiptoe Further Into Long-Running Stock Rally (WSJ) American Diplomats’ Comfort With Tillerson Gives Way to Unease (BBG) EU leaders grope for unity as Britain walks out (Reuters) Trump's disputes with local governments could create fresh conflicts of interest (Reuters) May Hears Hard Truths About Brexit as EU Prepares for Talks (BBG) South Korean President Ousted Amid Bribery Accusations (WSJ) Park’s Ouster Raises Prospect of Reset With China, Kim Jong Un (BBG) Americans Aren’t Filing Their Taxes This Year (BBG) Italy prosecutors probe editor, ex-managers at top financial daily (Reuters) It’s Not Just America—the Rent Is High Everywhere (BBG) Oil Traders Are Having Some Fun Again (BBG) AIG CEO Quits Mid-Board Meeting (WSJ) Loaded With Cash, Brazilians Are Urged to Forget About Austerity (BBG) A World Without Wi-Fi Looks Possible as Unlimited Plans Rise (BBG) Fukushima Mysteries Rattle Japan’s Nuclear Industry (WSJ) China defends its Trump trademark approvals as in line with law (Reuters) Are There Taxes in Your Tax-Free Retirement Account? (WSJ) www.zerohedge.com/news/2017-03-10/frontrunning-march-10
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Post by theMist on Mar 10, 2017 8:21:30 GMT -5
Gotta watch that they don't hit the sell button at this inflection point. S&P needs to break above that resistance line -- if not can drop back down to support windows print screen
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Post by theMist on Mar 10, 2017 8:26:44 GMT -5
Wow! Things looking brighter already! TVIX reverse split on 16th UVXY and VXX both available for shorting with Scottrade!
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Post by huh on Mar 10, 2017 8:34:02 GMT -5
Yesterday's late day dip sure messed up my stop suggestion, didn't it? Looks as if the scenario will play out the same, but I suck when it comes to suggesting stops. theMist , in your ES chart above, I see that upper line, what I call the shoulder test line, running across the peak made BEFORE the first neckline inflection was created. Basically, across the top of the left shoulder, like this: Doesn't make a big difference here, but with most H&S' it can make a huge difference.
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Post by theMist on Mar 10, 2017 8:37:55 GMT -5
S&P futures so far breaking above that resistance line and VIX SCAMs dropping nicely
no trades
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Post by huh on Mar 10, 2017 8:40:01 GMT -5
How high will this H&S squeeze take ES? Not sure, probably a new high. But bulls gotta be careful when VXX finally hits its downside target in low to mid 16's and VIX futures (VX) under 11.75.
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Post by theMist on Mar 10, 2017 8:40:59 GMT -5
Yep - Huh, I see it.
The chart I posted is an hourly chart so by 9am EST will know how that candle closes. Right now I have it above the shoulder test line
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Post by theMist on Mar 10, 2017 8:45:30 GMT -5
Huh, look at VXX chart I don't like the way this right side looks and I'm beginning to have doubts that the measured move in low 16s will play out. Eventually these continuous H&S patterns at the bottom of descending channels are going to fail to play out but I don't see a bottom pattern in VXX yet or a big topping pattern in S&P host image online
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Post by theMist on Mar 10, 2017 8:49:13 GMT -5
VXX daily chart BBs squeezing indicating big move coming soon. Either this is consolidating for another leg lower OR basing for move higher Next week FOMC will be interesting and its also expiry for March Vix Futures in 11 days I believe after FOMC and expiry SCAMs will definitely have the capability of turning dangerous Also, keep in mind, with the way the market has been trading VIX SCAMs should have already been making new all time lows by now. IMO windows 7 screenshot
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Post by theMist on Mar 10, 2017 8:52:14 GMT -5
Huh - try to keep posting I miss your charts and insight. We can't always get them all right and there are times you see things that I don't. No one goes 10 out of 10. This isn't a competition between everyone on the board and about being right, its about helping each other and making $$ for all of us
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Post by theMist on Mar 10, 2017 9:05:06 GMT -5
Be careful if S&P sells hard in first hour and/or VIX SCAMs go green real fast. IMO
I am only looking to start averaging in a VXX short position when it goes solid green and I'm not chasing at these levels
I already don't like the way they're trading in premarket
VXX was just under 17 and now is trading at 17.07
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Post by walnut on Mar 10, 2017 9:09:27 GMT -5
I'm a little concerned that they are going to "sell the news" on the decent jobs report.
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Post by theMist on Mar 10, 2017 9:10:09 GMT -5
Keep an eye on this counter trending rising green channel Right now in premarket VXX is below rising support of this channel but have to watch how VXX opens and possibly gets back in that channel and watch if gets back above potential neckline of potential inverse H&S pattern Have to see where VXX opens upload image online free
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Post by theMist on Mar 10, 2017 9:12:59 GMT -5
I'm a little concerned that they are going to "sell the news" on the decent jobs report. My new rule now - with the way VIX SCAMs have been trading -- is to only try to short them while they are solid green Chasing them lower hasn't been working anymore unless you get a decent cost avg and even then has been tough with late day spikes. They haven't been trading like the way we're used to. Even Las Vegas doesn't have a good cost avg - in the old days that wouldn't have mattered.
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Post by theMist on Mar 10, 2017 9:15:57 GMT -5
ES backtesting the break and is still at inflection point They sell S&P hard at the open and it falls right back down into that channel and possibly back to lower support OR can backtest successfully and continue to rally We'll see... upload images free
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Post by walnut on Mar 10, 2017 9:17:40 GMT -5
LasVegas is right about the rate hike possibly keeping some from staying short on the scams going into this weekend, could turn into a hot potato as the rate hike approaches. That has been giving VXX a little strength. I think better be careful the way everything is setting up. Jobs report means rate hike all but final now.
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Post by huh on Mar 10, 2017 9:21:25 GMT -5
Huh, look at VXX chart I don't like the way this right side looks and I'm beginning to have doubts that the measured move in low 16s will play out. Eventually these continuous H&S patterns at the bottom of descending channels are going to fail to play out but I don't see a bottom pattern in VXX yet or a big topping pattern in S&P ... I agree about not seeing a bottoming pattern in VIX scams. In fact, not even close. Actually more of a continuation rounded bearish pattern. And look at the H&S (gray lines) in the chart below. I do think that VXX will at least hit that downside target ~16.20. (Sorry, can't show the measured move because it's out of range) But I don't think that rounded continuation will play out all the way to the downside. I think VXX will just enough so that VX can fill its downside gap ~11.70, then perhaps a little lower.
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Post by theMist on Mar 10, 2017 9:27:49 GMT -5
Huh, take a look at this VXX chart Look at where this possible neckline leaves us I see your neckline higher up and that's where I had it originally but consider this possibility If VXX 17.24 is the real neckline area, then guess what -- VXX threw back above its neckline and is possibly putting in a small bottom pattern (iH&S) and this can change the entire picture All of this is still waiting more data and confirmation... adult image upload
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