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Post by huh on May 9, 2017 7:00:12 GMT -5
10 things you need to know before the opening bell South Korea goes to the polls. Barring a major upset, liberal Moon Jae-in, who is open to dialogue with North Korea, is expected to win, Reuters says. UK retail sales bounce back. Data released by the Retail Sales Monitor from the British Retail Consortium on Tuesday showed that retail sales in April surged 5.6% versus a year ago after slipping 1% in March. Bitcoin tops $1,700. The cryptocurrency trades up by 4.3% at $1,728 a coin. It's up 81% this year. Jeff Gundlach doesn't like US stocks. Speaking at the Sohn Investment conference, Gundlach, the founder of DoubleLine Capital, told attendees to go long the iShares Emerging Markets ETF and short the S&P 500. Hertz tanks after missing big on earnings. The rental-car company lost an adjusted $1.61 a share, missing the $0.84 loss that Wall Street was anticipating by a wide margin. Share tumbled by as much as 15% in extended trading on Monday. SPONSOR CONTENT BY ORACLE CFOs can transform their organization into an analytics powerhouse with the right talent, tools, and strategy. Learn more. Sturm Ruger says gun demand slowed. The gunmaker said sell-through of its products from independent distributors to retailers fell by 7% after seeing a strong run-up to the 2016 presidential election. The CEO of Qantas Airways took a pie to the face while giving a speech. CEO Alan Joyce was talking about his airline's recent decision to begin nonstop flights from London to Perth, Australia, when a man ran up to the podium and pied him in the face, City AM says. "If there are any more pies, can you get it over with now?" Joyce asked. Stock markets are higher. Hong Kong's Hang Seng (+1.3%) led the gains in Asia, and Germany's DAX (+0.5%) trails in Europe. The S&P 500 is set to open little changed near 2,400. Earnings reporting remains heavy. Allergan, Office Depot, and Valeant report ahead of the opening bell, while Disney, Priceline, and Yelp are among the names releasing their quarterly results after markets close. US economic is light. Jolts Job Openings will be released at 10 a.m. ET. The US 10-year yield is unchanged at 2.39%, its highest since the end of March. www.businessinsider.com/opening-bell-may-9-2017-2017-5
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Post by huh on May 9, 2017 7:00:58 GMT -5
10 things in tech you need to know today 1. Amazon's new Echo smart speaker with a touchscreen is expected to launch today. The device will have the ability to make and receive both phone and video calls, though it may have limited capabilities on that front at first. 2. Sinclair is buying Tribune Media for $3.9 billion (£3 billion) to create a local-TV behemoth. Tribune operates 42 TV stations including the cable network WGN America and several CBS, ABC, and Fox affiliates. 3. Apple is now worth more than $800 billion (£618 billion). Shares of Apple were up 3.05% at $153.44 (£118) on Monday following an analyst report from Drexel Hamilton that suggested Apple will become a $1 trillion (£772 billion) company. 4. A senator revealed that the FBI paid $900,000 (£695,000) to hack into the San Bernardino killer's iPhone. Senator Dianne Feinstein, the top Democrat on the Senate committee that oversees the FBI, said publicly last week that the government paid $900,000 to break into the locked iPhone. 5. We published the full letter Spotify's founders wrote to the EU complaining that Apple and Google are abusive. The founders of some of Europe's largest tech companies wrote to the EU complaining that big internet firms "can and do abuse their privileged position." 6. Citymapper is launching a bus service in London. It's running the service today and tomorrow to show off its route optimization software. 7. Microsoft is gearing up for an assault on the Amazon Echo. Yesterday Microsoft officially unveiled the Invoke — a smart speaker manufactured by Samsung subsidiary Harmon. 8. AppNexus CEO Brian O'Kelley told us that it took him four hours to decide whether to blacklist Breitbart. "It was actually a painful four hours," he said. 9. New York food delivery startup Maple has closed down. Some of the team will join rival food delivery service Deliveroo. 10. Apple executive Phil Schiller took a shot at Google Home and Amazon Echo in a new interview. "My mother used to have a saying that if you don't have something nice to say, say nothing at all," Schiller said about the devices. www.businessinsider.com/10-things-in-tech-you-need-to-know-today-may-9-2017-5
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Post by huh on May 9, 2017 7:01:49 GMT -5
Frontrunning: May 9 Yates warned Trump over Flynn blackmail fears (Reuters) Former Trump security aide was Russia blackmail risk: ex-U.S. official (Reuters) Visiting the White House Can Boost Your Stock Price. So Who’s Visiting Trump? (BBG) Investors Lighten Up on U.S. Stocks, Betting on Europe (WSJ) Oil steadies but rattled by concern about OPEC's clout (Reuters) GOP Confronts Backlash Over Health Bill (WSJ) Macron’s Next Test: Winning Control of France’s Parliament (WSJ) French ex-prime minister Valls offers to back Macron in June elections (Reuters) Buying Spree Brings Attention to Opaque Chinese Company (NYT) Iron Ore Sags Again as Forced-Sale Speculation Gathers Momentum (BBG) Elliott Takes Akzo Nobel to Court to Oust Chairman in PPG Bid Battle (WSJ) Russia showcases Arctic hardware in Red Square military parade (Reuters) SEC Probes Rental Home Values Backing Private-Equity Bond Deals (BBG) Chicago Police Warn Officers of Assault-Style Weapons Threat (WSJ) Racist soldier's militant double life shocks Germany (Reuters) Qatar says Syria 'de-escalation' plan not an alternative to political transition (Reuters) Jakarta's Christian governor jailed for blasphemy against Islam (Reuters) Amazon Plans to Unveil New Echo (WSJ) Venezuelans Accused of Rebellion Are Hauled Into Military Court (BBG) Turks in Germany won't be allowed to vote on death penalty: Merkel (Reuters) Germany detains third man suspected of planning 'extremist' attack (Reuters) Refugee Turned Fintech Chief Aims to Upend a $444 Billion Market (BBG) www.zerohedge.com/news/2017-05-09/frontrunning-may-9
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Post by theMist on May 9, 2017 7:13:59 GMT -5
Any charts for us Huh?
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Post by theMist on May 9, 2017 7:30:39 GMT -5
S&P ChartsS&P charts showing Bull targets of SP2430 and S&P2470 S&P Hourly S&P Daily
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Post by huh on May 9, 2017 7:36:46 GMT -5
No, there's really been no change these last couple days. Couple names like XLF & BBRY still showing some concern as I showed the other day, however AAPL's strength is more than making up for those. I'm surprised by AAPL getting this high. I had seen 144-146 for it back when it was under $100, but I didn't see a move for it >150. And then there's VIX and VIX futures getting slaughtered. Over these last 2 days, VIX futures has been losing >1% per single point gained in S&P. That's incredible, and perhaps a very strong signal for bulls waiting for a new high.
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Post by theMist on May 9, 2017 7:44:38 GMT -5
No, there's really been no change these last couple days. Couple names like XLF & BBRY still showing some concern as I showed the other day, however AAPL's strength is more than making up for those. I'm surprised by AAPL getting this high. I had seen 144-146 for it back when it was under $100, but I didn't see a move for it >150. And then there's VIX and VIX futures getting slaughtered. Over these last 2 days, VIX futures has been losing >1% per single point gained in S&P. That's incredible, and perhaps a very strong signal for bulls waiting for a new high. There's barely any change on my charts as well. I just like to throw them up beginning of the day for all to see and as reminder. Still maintaining large inverse H&S target of S&P2460-70. As always question of how S&P gets there. VIX SCAMs getting slaughtered and that VXX target measured VXX in 13s which we are currently at in premarket. Until S&P hits that large inverse H&S target of SP2470, that's when I will be concerned about a real correction, possibly start of Bear market IMO
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Post by huh on May 9, 2017 7:48:00 GMT -5
I see a downside target & potential support for Gold futures 1216-1217. But if it were to lose that, it could really fall, and it's been running inverse to the indices
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Post by theMist on May 9, 2017 7:52:34 GMT -5
I see a downside target & potential support for Gold futures 1216-1217. But if it were to lose that, it could really fall, and it's been running inverse to the indices Gold Bugs on this board definitely can't catch a break. Gold miners also.
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Post by huh on May 9, 2017 7:54:54 GMT -5
I still don't see those as bullish patterns in S&P for 2430 & 2470, and I've tried drawing them every which way, even with bull goggles on. What I do see is a gap up squeeze over the downtrend line and sideways consolidation since at the previous high.
But so far none of matters, does it? lol
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Post by theMist on May 9, 2017 7:58:31 GMT -5
I still don't see those as bullish patterns in S&P for 2430 & 2470, but so far that doesn't matter, does it? lol the infamous lopsided inverse H&S that tend to play out. lol But I know you see the S&P double bottom -- 2322, 2329 -- that measures SP2426ish Bear case -- Bears hoping that SP2400 turns into double top
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Post by huh on May 9, 2017 8:09:12 GMT -5
I still don't see those as bullish patterns in S&P for 2430 & 2470, but so far that doesn't matter, does it? lol the infamous lopsided inverse H&S that tend to play out. lol But I know you see the S&P double bottom -- 2322, 2329 -- that measures SP2426ish Bear case -- Bears hoping that SP2400 turns into double top Problem is, didn't even backtest the breakout on that double-bottom. Got close, but didn't tag it. That normally means the whole move is only a st squeeze, and when it finally does backtest, it'll fail. But VIX products not signalling anything close to that happening. I'll admit though, I lost not only a lot of confidence, but also interest, when the S&P didn't hit even the highest of the downside targets in April. I mean that was calling for only a 4% pullback, and couldn't even get that - with markets near all time high valuations? Sort of makes me lose all faith in charts if I'm wrong about such a small move, especially when I've been expecting a much bigger one!
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Post by theMist on May 9, 2017 8:09:58 GMT -5
Lot of talk lately on CNBC about low vix Spot VIX Daily chart
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Post by huh on May 9, 2017 8:17:49 GMT -5
In any case, I see what I believe to be now critical rising support for the S&P currently ~2383 (top of large rising wedge), but that likely only means that it won't even get close to touching it
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Post by theMist on May 9, 2017 8:18:05 GMT -5
the infamous lopsided inverse H&S that tend to play out. lol But I know you see the S&P double bottom -- 2322, 2329 -- that measures SP2426ish Bear case -- Bears hoping that SP2400 turns into double top Problem is, didn't even backtest the breakout on that double-bottom. Got close, but didn't tag it. That normally means the whole move is only a st squeeze, and when it finally does backtest, it'll fail. But VIX products not signalling anything close to that happening. I'll admit though, I lost not only a lot of confidence, but also interest, when the S&P didn't hit even the highest of the downside targets in April. I mean that was calling for only a 4% pullback, and couldn't even get that - with markets near all time high valuations? Sort of makes me lose all faith in charts if I'm wrong about such a small move, especially when I've been expecting a much bigger one! When S&P broke out from S&P 2300, it never back tested. For me, that was the first sign of irrational exuberance in this market. Now, with this recent break out -- when S&P broke out above that descending support along with double bottom pivot, the question became does S&P turn around and back test the double bottom pivot and the break? Like you said, S&P came very close to back testing the double bottom break at 2378.36 but missed it. And S&P may have even back tested as far down as SP2360ish for a common gap fill as well. If S&P continues on to new highs and reaches my targets of SP2430, SP2470ish WITHOUT back testing -- I agree that when S&P does come back down, it will cut through supports like butter. This BULL market is incredibly resilient BUT it will not last forever.
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Post by huh on May 9, 2017 8:23:51 GMT -5
Problem is, didn't even backtest the breakout on that double-bottom. Got close, but didn't tag it. That normally means the whole move is only a st squeeze, and when it finally does backtest, it'll fail. But VIX products not signalling anything close to that happening. I'll admit though, I lost not only a lot of confidence, but also interest, when the S&P didn't hit even the highest of the downside targets in April. I mean that was calling for only a 4% pullback, and couldn't even get that - with markets near all time high valuations? Sort of makes me lose all faith in charts if I'm wrong about such a small move, especially when I've been expecting a much bigger one! When S&P broke out from S&P 2300, it never back tested. For me, that was the first sign of irrational exuberance in this market. Now, with this recent break out -- when S&P broke out above that descending support along with double bottom pivot, the question became does S&P turn around and back test the double bottom pivot and the break? Like you said, S&P came very close to back testing the double bottom break at 2378.36 but missed it. And S&P may have even back tested as far down as SP2360ish for a common gap fill as well. If S&P continues on to new highs and reaches my targets of SP2430, SP2470ish WITHOUT back testing -- I agree that when S&P does come back down, it will cut through supports like butter. This BULL market is incredibly resilient BUT it will not last forever. And so far, you haven't been wrong.
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Post by Herceg on May 9, 2017 8:36:26 GMT -5
From a site I saw last night...........
· US STOCKS-Wall Street flat; fear barometer falls to 1993 low
The CBOE Volatility index dropped 0.8 point to close at 9.77, its lowest since 1993 as investors took comfort from Macron's victory, as well as from strong quarterly reports in recent weeks. A declining VIX typically indicates a bullish outlook for stocks, but the extreme lows the index has touched are sounding caution for some stock investors.
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Post by theMist on May 9, 2017 8:41:41 GMT -5
VXX chartLooking for VXX in low 14s to possibly short VXX but may not get it we'll see...
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Post by Herceg on May 9, 2017 8:43:22 GMT -5
Mkt. really struggling this morning...............needs a catalyst to move it up...............I wonder where it will come from...............internally, politically or internationally.....................time will tell.............
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Post by theMist on May 9, 2017 9:03:05 GMT -5
S&P new all time highs
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