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Post by huh on Apr 18, 2017 6:53:28 GMT -5
10 things you need to know before the opening bell Theresa May calls for early elections. UK Prime Minister Theresa May is hoping to hold a general election on June 8, but it must be approved by a two-thirds majority in Parliament. The British pound is stronger by 0.6% at 1.2640 against the dollar. China home prices keep going up. Prices jumped 0.6% month-over-month in March, according to data released by the National Bureau of Statistics on Tuesday. Year-over-year, however, gains slowed to 11.3% from February's 11.6%. Iron ore is still tumbling. Iron ore is down another 3.5% on Tuesday, running its loss to 18.8% over the past seven sessions. It's down 30% since February 21. Post is buying Weetabix. The Chinese conglomerate Bright Food Group has sold the UK cereal brand Weetabix to Post for $1.76 billion, Reuters says, citing a Bright Food Group spokesman. Netflix misses subscriber growth targets, sees a solid second quarter. The streaming content provider earned $0.40 a share ($0.37 expected) as revenue jumped 35% versus a year ago to $2.64 billion ($2.65 billion expected). While both US (1.42 million) and international (3.53 million) subscriber growth missed estimates, expectations are for a solid second quarter. United beats. The airline earned an adjusted $0.41 a share ($0.38 expected) on operating revenue of $8.42 billion ($8.38 billion forecast) during the first quarter. "The incident that took place aboard Flight 3411 has been a humbling experience, and I take full responsibility," United CEO Oscar Munoz said in the earnings release. Intel is canceling its biggest event of the year. The microprocessor maker has discontinued its annual Intel Developers Forum, citing the difficulty of delivering a unified message. Stock markets around the world are lower. Hong Kong's Hang Seng (-1.4%) trailed in Asia, and France's CAC (-1.5%) lags in Europe. The S&P 500 is set to open down by 0.4% near 2,340. Earnings reporting picks up. Bank of America, Goldman Sachs, Harley-Davidson, and UnitedHealth are among the names reporting before the opening bell, while IBM and Yahoo release their quarterly results after markets close. US economic data flows. Housing starts and building permits will be released at 8:30 a.m. ET before industrial production and capacity utilization cross the wires at 9:15 a.m. ET. The US 10-year yield is down 4 basis points at 2.21%. www.businessinsider.com/opening-bell-april-18-2017-2017-4 |
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Post by huh on Apr 18, 2017 6:54:12 GMT -5
10 things in tech you need to know today 1. Facebook's annual developers conference, F8, kicks off today. The event will start with a keynote speech from CEO Mark Zuckerberg, Recode reports. 2. Netflix missed its subscriber growth targets, but expects a big Q2. The video streaming platform reported its Q1 earnings on Monday. 3. Facebook disputes reports that it took three hours to remove a video posted by the "Facebook Killer." A 37-year-old man posted a video on the social network that allegedly shows himself shooting an elderly man. 4. Intel has cancelled its biggest event of the year as the world moves past the PC. It has discontinued the Intel Developers Forum. 5. Theranos will be able to operate a blood lab again in 2019. The beleaguered US medical startup has reached a settlement with Centers for Medicare and Medicaid Services. 6. Bustle has acquired Elite Daily from Daily Mail, and is rebranding itself as Bustle Digital Group. Bustle seems to have paid less than the $40 million (£32 million) Daily Mail paid for Elite Daily in 2015. 7. Facebook is about to take the wraps off its secretive and ambitious consumer hardware group. "Building 8" is working on four projects, ranging from augmented reality to brain-scanning tech. 8. Google says a rogue vendor violated guidelines by instructing contractors to rate InfoWars as an untrustworthy site. InfoWars is home to conspiracy theorist Alex Jones, who has claimed the 2012 Sandy Hook Elementary School shooting was faked. 9. Google has reached a deal with the Russian anti-monopoly watchdog. The Californian tech giant will open up Android to other developers in the country. 10. Ex-Microsoft CEO Steve Ballmer has built a database that shows what the US government is spending taxpayer money on. For the last three years, he has been quietly working on a startup called USAFacts, The New York Times reports. www.businessinsider.com/10-things-in-tech-you-need-to-know-april-18-2017-4 |
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Post by theMist on Apr 18, 2017 7:01:58 GMT -5
Huh -- Post a chart when you get a chance of S&P showing what you are seeing
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Post by walnut on Apr 18, 2017 7:03:35 GMT -5
vxx should have gapped down... thanks for nothing NK
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Post by theMist on Apr 18, 2017 7:08:36 GMT -5
vxx should have gapped down... thanks for nothing NK still have time until market open  but I'm with ya -- surprised to see VXX up in premarket and I still think VXX closes gap down to 17.08 IMO -- after that we'll see... |
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Post by huh on Apr 18, 2017 7:11:04 GMT -5
Huh -- Post a chart when you get a chance of S&P showing what you are seeing S&P 1 hr chart. Ever since the 03/01 high it's been trending down, forming what I would call an Island POTUS top (or Bulkowski might call an Eve & Eve Double-Top). This could get it down to ~2250. (I was wrong about the H&S part)  |
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Post by huh on Apr 18, 2017 7:22:25 GMT -5
S&P 2 Day chart. Possible Rising Wedge that market failed to squeeze. Downside target 1990's/2000 with support in the 2160's on the way down (gray lines) That downside target coincidentally lines up with the shoulder test line of the Large H&S. Once below the head, which was the long standing 2015 high of 2134.71, that H&S would come back into play, downside target mid-1500's.  |
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Post by theMist on Apr 18, 2017 7:29:55 GMT -5
Huh - I know you don't look at fundamentals - but the market has had everything thrown at it and the selling has been weak. I will be impressed if Bears can even get S&P down to 2300. Honestly, I think the only thing that can take down this market hard is WAR You can also make a bullish case from S&P futures chart as well From chart below - S&P can be gearing up for another leg higher S&P Futures Chart  |
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Post by theMist on Apr 18, 2017 7:35:23 GMT -5
Huh - Trust me my friend - I would have loved the opportunity to short VXX at 23 range
and that's not to say that it still can't get there BUT that target is starting to fade just a little IMO
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Post by huh on Apr 18, 2017 7:36:09 GMT -5
If S&P loses that March low of 2322.25, which would likely happen with a gap down because of the Island aspect of it, all bullish TA disappears. But I don't see that as a bull flag in the futures anyway since the bottom of that channel has already failed
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Post by huh on Apr 18, 2017 7:37:43 GMT -5
Huh - Trust me my friend - I would have loved the opportunity to short VXX at 23 range and that's not to say that it still can't get there BUT that target is starting to fade just a little IMO Wouldn't surprise me at all if VXX fills that downside gap ~17.07/17.08, but if it does and that gap fill acts as support, watch out |
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Post by theMist on Apr 18, 2017 7:38:22 GMT -5
If S&P loses that March low of 2322.75, which would likely happen with a gap down because of the Island aspect of it, all bullish TA disappears. But I don't see that as a bull flag in the futures anyway since the bottom of that channel has already failed I agree that can still go either way -- I am neutral with a short VXX bias for possible move down to VXX 17.08 just saw your last post re filling VXX gap to 17.08 -- I absolutely agree |
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Post by theMist on Apr 18, 2017 7:40:43 GMT -5
VXX 4 Hour Chart Indicators starting to roll down slightly and I believe VXX will pullback to VXX 17.08 in short term IMO  |
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Post by theMist on Apr 18, 2017 7:45:12 GMT -5
VIX chart With the way spot VIX swings wildly -- in short term, VIX should pullback to backtest those moving averages before thinking about its next move IMO  adult image hostcertificity.com |
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Post by theMist on Apr 18, 2017 7:49:41 GMT -5
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Post by huh on Apr 18, 2017 7:50:00 GMT -5
Here's a couple of charts that should give long term bulls some pause: US Steel weekly chart. Notice how poorly it's performed against the 2008 high? All of 2016 squeezed a large bearish Descending Triangle, but then it failed to hold the break higher. Downside target 3.50's, currently 28.88. That's nearly 90% downside from here!  XLF 7-Day chart. Banks were the cause of the whole 2008/2009 crash, yet everything since the 2009 low has been only FIB retracements, which means technically banks are still in a bear market - even after all that QE and stimulus that was thrown at them  |
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Post by theMist on Apr 18, 2017 8:15:32 GMT -5
GS is going to weigh heavily on DOW
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Post by huh on Apr 18, 2017 8:19:53 GMT -5
Huh - I know you don't look at fundamentals - ... Yeah, I don't look at fundies at all anymore. But watch, when this market breaks down there will of course be bearish news to explain it. Yet many still won't believe the charts could have seen it coming because the media will be filling them with all kinds of explanations for why the move is happening, and of course there's no way charts could have predicted exactly " this" happening because now it can be explained (which is why I say the charts don't predict the news, but rather the market's reaction to the news) I think of it this way: if someone predicted a tornado was going to hit a specific city on a specific date in the future, many would balk. But then when the tornado does actually hit that city, on that date, those same people would still balk because some meteorologist on TV can now explain to them, after the fact, exactly why the tornado formed when and where it did. But there's a difference between predicting the something versus explaining why the something occurred. Yet for many, when they get the explanation, that somehow for them disproves the prediction. I don't know why. |
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Post by walnut on Apr 18, 2017 8:25:33 GMT -5
buying volume and macd are not looking good for vxx. if it fills that gap it is going to be later today.
I mean not looking good for vxx bears.
It could turn down fast and it will need to
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Post by walnut on Apr 18, 2017 8:50:12 GMT -5
I should have taken more seriously that vxx buying pop at the end of the day yesterday, it was forecasting a little trouble for the market overnight.
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