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Post by huh on May 25, 2017 6:20:39 GMT -5
10 things you need to know before the opening bell The Fed talks balance sheet reduction. Minutes from the May FOMC meeting released on Wednesday showed the Fed plans to unwind its massive balance sheet by gradually increasing limits on the dollar amounts of Treasurys and other securities that would be allowed to run off into maturity each month. The CBO score for the GOP healthcare bill is out. The plan would leave 23 million more Americans uninsured and undermine protections for people with preexisting conditions, according to an updated score from the Congressional Budget Office. OPEC reportedly agrees to extend production cuts. OPEC ministers meeting in Vienna agreed to extend production cuts by nine months, Bloomberg says. UK GDP disappoints. The UK's economy grew at a 0.2% clip in the first quarter, according to a second estimate provided by the Office for National Statistics. That was slower than the initial reading of 0.3% growth. The Chinese yuan hits a 2-month high. Offshore yuan climbed to 6.8651 per dollar, its best since March 28. Korea's central bank turns optimistic on its economy. The Bank of Korea held its key interest rate at a record low 1.25% and said, "The Board judges that consumption will likely continue its modest trend of growth, but that the trends of improvement in exports and investment should expand compared to the April forecasts." Bitcoin is on fire. The cryptocurrency trades up 10.6% at $2,692 a coin. It has gained 178% so far in 2017. Stock markets around the world are up. China's Shanghai Composite (+1.4%) led the overnight surge while France's CAC (+0.4%) paces the gains in Europe. The S&P 500 is set to open higher by 0.3% near 2,412. Earnings reports keep coming. Best Buy, Burlington Stores, Dollar Tree, and Sears report ahead of the opening bell while Costco, Deckers Outdoor, and GameStop will release their quarterly results after markets close. US economic is limited. Initial claims will be released at 8:30 a.m. ET. The US 10-year yield is unchanged at 2.25%. www.businessinsider.com/opening-bell-may-25-2017-2017-5
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Post by huh on May 25, 2017 6:21:25 GMT -5
10 things in tech you need to know today 1. A new report slams Tesla working conditions. It claims employees have suffered twice as many serious injuries as the industry average. 2. Apple's chief design officer Sir Jony Ive has been appointed chancellor of the Royal College of Art. It is the world's number one art school. 3. European Union ministers approved plans to make social media companies such as Facebook, Twitter and Google's YouTube tackle hate speech on their platforms. It is the first legislation at EU level on the issue. 4. SoftBank has invested $4 billion into US graphics chipmaker Nvidia. It equates to about 4.9% of the company. 5. UK government ministers are reportedly planning to enforce new powers that would compel tech companies like WhatsApp and Apple to hand over encrypted messages. It's not clear how this would work in practice as the "end-to-end encryption" techniques used by the big tech firms make decryption impossible. 6. A longtime Snapchat exec who helped build its ad business has left the company. His name is Brian Ames. 7. Graphic designer and prolific leaker Benjamin Geskin posted a hands-on video with a dummy iPhone 8. It shows the redesigned iPhone with a double-lens camera that's positioned vertically, not horizontally like you see on the iPhone 7. 8. Facebook is testing a change that will make news an even bigger part of your feed. The redesign places Trending, which shows links to top news stories, prominently in the News Feed on mobile phones instead of burying it in the search box of Facebook's mobile app. 9. Apple designer Marc Newson has created a $12,000 egg timer. The 53-year-old Australian has collaborated with watch website Hodinkee to produce "The Marc Newson Hourglass,". 10. Tech investor Christian Hernandez analyzed his 5000 monthly emails and explained how startups can stand out. He used a tool called Gmail Meter to track his inbox. www.businessinsider.com/10-things-in-tech-you-need-to-know-today-may-25-2017-5
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Post by huh on May 25, 2017 6:59:56 GMT -5
Frontrunning: May 25 World stocks hit record after Fed minutes (Reuters) OPEC extends oil output cut by nine months to fight glut (Reuters) Father and Brother of Manchester Bomber Arrested in Libya (BBG) In testing Montana vote for Trump, Republican caught up in brawl (Reuters) NATO to Take New Counterterrorism Measures (WSJ) Trump’s Toxic Budget Is a Cheap Win With the Right People (BBG) Pope 'terrific', Saudi 'spectacular': Trump waxes lyrical on foreign tour (Reuters) Hedge Funds Squeezed by World's Highest Rents Are Moving Out (BBG) Talent Battle: Hedge Funds vs. Silicon Valley (WSJ) China Hitches Yuan to the Dollar, Buying Rare Calm (WSJ) China's Downgrade Could Lead to a Mountain of Debt (BBG) Data Mining to Find Tax Cheaters (BBG) In first under Trump, U.S. warship challenges Beijing's claims in South China Sea (Reuters) Change and Culture Collide in America’s Prison Capital (WSJ) Iran says it has built third underground ballistic missile factory (Reuters) Indonesian police launch raid as Jakarta attacks linked to Islamic State (Reuters) Lack of new launches leaves Ford playing catchup with GM (Reuters) Ford to name new heads for Europe, Asia: FT (Reuters) Deerfield Partners Snared in Probe of Leaking Consultants (BBG) Beijing Moves to Ease Jitters Over Converted Commercial Housing (Caixin) Trump Turns His Back on International Tourists (BBG) Israeli police question U.S. casino mogul Adelson in Netanyahu probe (Reuters) Philippines deploys helicopters in battle to retake city from Islamist rebels (Reuters) Sears posts first quarterly profit in nearly two years on cost cuts (Reuters) Best Buy quarterly comparable sales rise unexpectedly (Reuters) Why a Giant New Eataly Won’t Sell Parmesan Cheese or Parma Ham (BBG) www.zerohedge.com/news/2017-05-25/frontrunning-may-25
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Post by huh on May 25, 2017 7:25:14 GMT -5
Well, market has spoken with yesterday's close. I'd only worry now about that ES 2430's iH&S upside target if it were to lose the lowest FIB support which now sits ~2393.50 (& that support will keep rising with each new high, and FIBs would only reset if it tests & holds that lowest FIB support) It's doubtful ES even gets that low though as ~2399.50 will likely act as support now. USTEC ~5724 should act as support as well. I think that all this sideways consolidation since the 03/01 high will finally be over after today. With yesterday's ES close above its iH&S neckline, and the filling of the upside gaps & FIB retracements in so many indices & names, and the spot VIX downside gap getting filled, today's close should confirm the direction of the next move. (the only upside gap that hasn't been filled yet is Naz futures, USTEC, ~5724 - and it's only ~4pts away) A close in ES >2390.65, and the move should be to new all-time highs. A close below and a top is in. So all the market has to do is not sell-off hard after USTEC fills that upside gap. That's my story, and I'm sticking to it.
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BigM
Full Member
Posts: 142
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Post by BigM on May 25, 2017 7:32:52 GMT -5
Thank you all for posting all of this good stuff! I am a friend of Dino's and have been following for years.
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Post by huh on May 25, 2017 7:48:04 GMT -5
Thank you all for posting all of this good stuff! I am a friend of Dino's and have been following for years. Welcome aboard!
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Post by walnut on May 25, 2017 8:23:59 GMT -5
VXX not really dropping yet on positive i rate info last night.
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Post by theMist on May 25, 2017 8:30:01 GMT -5
Thank you all for posting all of this good stuff! I am a friend of Dino's and have been following for years. welcome aboard martinrogers65 keep the posts coming
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Post by theMist on May 25, 2017 8:32:05 GMT -5
S&P HourlyS&P tagging rising wedge Small iH&S S&P target SP2430 Larger iH&S S&P target SP2468ish
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Post by theMist on May 25, 2017 8:34:27 GMT -5
When I saw futures up early this morning, I thought for sure VXX was trading in 13.20-30 range and was surprised it wasn't.
Maybe some early hedging going on before long weekend.
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Post by walnut on May 25, 2017 8:34:52 GMT -5
Indicators showing bearish cross imminent but VXX just seems temporarily over sold. hard to chase
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Post by theMist on May 25, 2017 8:36:40 GMT -5
Indicators showing bearish cross imminent but VXX just seems temporarily over sold. hard to chase I know the feeling And looking back, if just had waited for those big spikes that come every so often, could have backed up the truck when VXX was in 16s and would have had a nice ride to new lows. Instead of being all in short VXX at lows and getting caught in spike. VXX will probably trade flat and in small range today
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Post by walnut on May 25, 2017 8:38:18 GMT -5
Yeah that kinda happens over and over. I'm tired of it myself haha
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Post by walnut on May 25, 2017 8:40:38 GMT -5
lets see what next hourly candle looks like
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Post by huh on May 25, 2017 8:41:42 GMT -5
I don't get it. Indices on fscharts going up, yet futures at investing.com going down. lol
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Post by huh on May 25, 2017 8:44:47 GMT -5
I'd expect USTEC to at least backtest down to ~2724, & ES down to ~2404
But then again, Bitcoin should've down some backtesting as well. Yikes.
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Post by theMist on May 25, 2017 8:52:12 GMT -5
S&P is racing towards that small iH&S target of SP2430ish Larger iH&S target of SP2468ish should be next after that
Just a question of how we get there
After S&P 2468ish gets hit, I'll be looking for a REAL market top
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Post by theMist on May 25, 2017 9:00:53 GMT -5
If it wasn't for Sarah Eisen on CNBC (wow she is gorgeous) I would take the day off lol
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Post by walnut on May 25, 2017 9:06:07 GMT -5
She really is
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Post by theMist on May 25, 2017 9:18:16 GMT -5
VXX feels like it wants to put in one of those miracle green closes - you know close green by 2 cents lol it is overdue
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