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Post by huh on May 2, 2017 6:37:35 GMT -5
10 things you need to know before the opening bell Trump is "looking into" breaking up the banks. President Donald Trump told Bloomberg that he's looking into bringing back the "old system" that separated consumer lending and investment banking. The World Bank is pushing a terrifying prediction for jobs in developing countries. Speaking at the Milken Institute Global Conference in Los Angeles, World Bank President Jim Young Kim suggested two-thirds of jobs in developing countries could be lost to automation. China's factories slow down. The Caixin Manufacturing PMI fell to 50.3 in April, making for its lowest reading in seven months. While the April number was a drop from March's 51.2, it was still above 50.0, signaling the sector is still expanding. Greece has a new deal. Greece agreed to another round of pension cuts in exchange for the unlocking of more bailout cash, the Associated Press says. Eurozone manufacturing expands at its fastest pace since 2011. Markit eurozone Manufacturing PMI printed 56.7 in April as output, new orders, and employment all grew at their fastest pace in six years. UBS settles toxic mortgage claims. The Swiss bank paid $445 million to settle claims it sold toxic mortgages to two US credit unions who later went bust, Reuters says. Twitter is loading up on live content.The social media company announced more than 12 new partners who will stream live content on its platform this year. Partners include Bloomberg, The Players Club, and PGA Tour. Stock markets around the world are higher. Japan's Nikkei (+0.7%) led in Asia and Britain's FTSE (+0.5%) is out front in Europe. The S&P 500 is set to open higher by 0.1% near 2,391. Earnings reporting is heavy. Aetna, Coach, CVS, and Mastercard are among the companies reporting ahead of the opening bell while Apple and Mondelez highlight the names releasing their quarterly results after markets close. US economic data is light. Automakers will release their US sales throughout the day. The US 10-year yield is up 1 basis point at 2.33%. www.businessinsider.com/opening-bell-may-2-2017-2017-5
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Post by huh on May 2, 2017 6:38:37 GMT -5
10 things in tech you need to know today 1. Apple is preparing its first "home AI product" for a marketing launch as soon as this summer. That's according to KGI Securities analyst Ming-Chi Kuo. 2. Brian Tolkin, who built UberPool into one of Uber's most popular products, is leaving the ride-hailing giant. He's been there for nearly five years. 3. Facebook says it shouldn't have told at least one advertiser how to reach emotionally "insecure" teens. The story highlights the kind of data the company collects about its nearly 2 billion users. 4. Employees have started moving into Apple's new global headquarters. The facility, known as Apple Park, cost around $5 billion and is based in Cupertino. 5. Apple won't explain why some of its new MacBook Pros are making a weird popping noise. Reports started circulating about the problem earlier this month. 6. Netflix has released a new trailer for "House of Cards" season 5. It looks a bit creepy. 7. Apple's futuristic, wire-free earbuds, AirPods, haven't been on the market for long, but people seem to really like them, according to a survey. 82% of 942 customers surveyed said they were "very satisfied" with their AirPods. Overall, 98% of respondents said they were satisfied. 8. The iconic white plastic MacBook is now obsolete. That means that Apple won't fix them anymore (except in certain places with strong laws, like California.) 9. Cuba is on the brink of an internet revolution. Google has just turned on its first servers in the long-isolated country. 10. Airbnb has reached an agreement with the city of San Francisco that would require the nearly 8,000 hosts in the city to be registered in order to host a listing. The agreement resolves the legal limbo the company has existed in for nearly the last year. www.businessinsider.com/10-things-in-tech-you-need-to-know-today-may-2-2017-5
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Post by huh on May 2, 2017 7:09:44 GMT -5
Frontrunning: May 2 Trump Gambles on Big Health Victory (WSJ) Provocateur-in-Chief Trump Pokes His Own Party’s Power Centers (BBG) White House Preparing to Replace Top Banking Regulator (WSJ) Trump’s Trade Warrior Is the Most Unpopular Economist in the Class (BBG) Erdogan says to discuss Syria operations with Russia's Putin, Trump (Reuters) Thaad Missile-Defense System Is Up and Running in South Korea (WSJ) Infosys to Hire 10,000 American Workers After Trump Criticism (BBG) Hollywood writers reach tentative deal with studios, averting strike (Reuters) United’s Munoz, Other Airline Executives to Testify in Washington (WSJ) Coal Country Is Back, Along With Signing Bonuses and Pay Raises (BBG) Theranos Settles Lawsuit With Partner Fund (WSJ) Murdoch Seeks to Dent Google's Ad Dominance After YouTube Revolt (BBG) Goldman Sachs Embraces Banking’s Bland Side: Lending Money (WSJ) Why Investors Will Watch TV Battle Between Macron, Le Pen (WSJ) Ackman to `Probably' Shun Pharmaceuticals After Valeant Loss (BBG) San Francisco Eases Home-Sharing Curbs (WSJ) A Homebuying Calculator for Millennials: Does That Add Up? (BBG) AllianceBernstein Ousts C.E.O. and Shakes Up Board (NYT) A Pool Table in Philadelphia Shows Nasdaq’s Thirst for Talent (BBG) www.zerohedge.com/news/2017-05-02/frontrunning-may-2
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Post by walnut on May 2, 2017 7:32:21 GMT -5
vix term curve shows that there is very little fear in the market right now. Actually, with low vix and low vix futures, it seems to be saying that the market has less fear than it has had at any time over the last 6 months.
(The higher contango we had since last September was indication of uncertainty 1 or 2 months out over that period)
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Post by theMist on May 2, 2017 7:51:30 GMT -5
Any charts for us Huh?
Also, spot vix hit a low of 9.90 yesterday
Lowest spot vix hit was 8.60 back in on 12/29/06 just before peak of bubble in 2007
I believe spot vix will test low 9s soon
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Post by theMist on May 2, 2017 8:08:22 GMT -5
S&P ended the day yesterday with back test of bull flag...jury is still out see S&P Hourly SP Daily ChartSP Hourly Chart
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Post by huh on May 2, 2017 8:09:39 GMT -5
Any charts for us Huh? Also, spot vix hit a low of 9.90 yesterday Lowest spot vix hit was 8.60 back in on 12/29/06 just before peak of bubble in 2007 I believe spot vix will test low 9s soon No, I don't have much to add. Kind of the same thing everyday now. Market sideways to up, and if it is down just a little, well, then you know a bear pattern's about to get squeezed. lol S&P & DJI still haven't broken the high from all the way back on 03/01, though that likely doesn't mean much since Naz and IWM have. I do think it might be significant that IWM lost that high on Friday, and failed to recover it yesterday, but unless S&P were to start losing supports none of it means much of anything. The first significant support for S&P is 2382.36, but then below that is support ~2377.50, then 2360's...
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Post by huh on May 2, 2017 8:10:54 GMT -5
AAPL reports tonight, and the only concern there would be if it lost the previous high in the 145.40's
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Post by huh on May 2, 2017 8:13:26 GMT -5
XLF showing a H&S on its Daily chart, target would be a little under $21, so yeah, that's another bear pattern to watch for a potential squeeze
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Post by theMist on May 2, 2017 8:13:52 GMT -5
VXX Daily ChartVXX Hourly Chart
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Post by walnut on May 2, 2017 8:16:48 GMT -5
SPY chart with pre-market looks kind of bullish though.
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Post by theMist on May 2, 2017 8:30:50 GMT -5
VXX looks like it wants to hang out in 14.40 range for little bit before making a move either way
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Post by theMist on May 2, 2017 8:36:36 GMT -5
Based off where VXX bounced yesterday and where its consolidating today - I moved up slightly a descending support (first green arrow) and it makes more sense where it is now VXX may consolidate and bounce a little off this support OR it can consolidate and bear flag for move lower Either way, eventually I believe VXX will be testing low 14s just a question of how it gets there
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Post by walnut on May 2, 2017 8:37:43 GMT -5
yeah, nothing to do but wait for now if you are day trading vxx
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Post by theMist on May 2, 2017 8:44:45 GMT -5
Follow thru on S&P Bull flag after break out and back test is very weak and is trending sideways so far unless we see strong follow thru on move higher in S&P you can stick fork in S&P bull flag IMO
yep - failing back test
stick fork in S&P bull flag
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Post by huh on May 2, 2017 8:46:20 GMT -5
I think VXX is likely to at least backtest the 15 area. Would be crazy if it didn't, especially considering VX (VIX futures) filled its last & long term downside gap yesterday - and left a whole lot of upside gaps getting down there (technically speaking, we should expect VX to backtest as high as ~14.15, currently 11.82)
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Post by Herceg on May 2, 2017 8:49:20 GMT -5
As much as I personally believe the mkt. is FOS...............it will just not drop...........add to VIX scam shorts and leave it alone.........currently at 200 shares short on UVXY..................wish I added more in the 19's but not this time.............wait for next split and add again.......JMO and BOL.........
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Post by theMist on May 2, 2017 8:51:07 GMT -5
VXX 14.61 is where 10ema is on hourly if it can make it that high
Would be good spot IMO to add little VXX short if looking to scalp saving dry powder of course
so would add short in increments into the small pop
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Post by theMist on May 2, 2017 8:51:44 GMT -5
As much as I personally believe the mkt. is FOS...............it will just not drop...........add to VIX scam shorts and leave it alone.........currently at 200 shares short on UVXY..................wish I added more in the 19's but not this time.............wait for next split and add again.......JMO and BOL......... lmao - it's been the right call all along
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Post by theMist on May 2, 2017 8:53:56 GMT -5
I think VXX is likely to at least backtest the 15 area. Would be crazy if it didn't, especially considering VX (VIX futures) filled its last & long term downside gap yesterday - and left a whole lot of upside gaps getting down there (technically speaking, we should expect VX to backtest as high as ~14.15, currently 11.82) I do agree that VXX at some point will at least back test 15 break out BUT it will take some real selling in S&P to get it there and I don't think this is the spot (14.40) where VXX will bounce real hard and take us there BUT could be wrong VXX price action is still very weak IMO
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