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Post by huh on Sept 1, 2017 6:50:30 GMT -5
10 things you need to know before the opening bell The jobs report is coming. The US economy is expected to have added 180,000 jobs in August as the unemployment rate held at 4.3%, according to Bloomberg data. The market isn't expecting another rate hike this year. Ahead of the jobs report, there's a 33.8% chance the Federal Reserve hikes interest rates again in 2017, according to Bloomberg's World Interest Rate Probability data. Gas prices ease. RBOB gasoline futures trade lower by 1.25% at $1.7574 a gallon. Despite the drop, they're still up about 13.5% since Hurricane Harvey made landfall in Texas. Greece is growing faster than the UK. Greece's economy grew at a 0.5% clip in the second quarter, outpacing the 0.3% growth experienced in the UK, the weakest among the G-7 economies. The weak pound is boosting UK manufacturing. Britain's manufacturing sector saw a reading of 56.9 in August, up from 55.3 in July, as the "historical weakness" of the pound boosted exports, according to IHS Markit. Macau casinos see revenue climb for a 13th straight month. Revenue climbed 20% year-over-year in August despite two typhoons leaving parts of the city without electricity and water for four days, Reuters says, citing government data. Apple hits a record high. Shares of Apple touched an all-time high of $164.52 in the minutes following Thursday's announcement that the launch event for the rumored iPhone 8 would be held September 12. Lululemon beats as online sales surge. The athletic-apparel maker earned $0.36 a share on revenue of $581.1 million, both ahead of estimates, as online sales jumped 30%. Stock markets around the world are higher. Japan's Nikkei (+0.23%) gained in Asia, and France's CAC (+0.73%) leads in Europe. The S&P 500 is set to open up 0.14% near 2,475. US economic data is heavy. Aside from the jobs report and everything associated with it, Markit US Manufacturing PMI and University of Michigan consumer confidence will be released at 9:45 a.m. ET and 10 a.m. ET. US auto sales will be announced throughout the day. The US 10-year yield is up 1 basis point at 2.13%. www.businessinsider.com/opening-bell-september-1-2017-2017-9 |
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Post by huh on Sept 1, 2017 6:51:21 GMT -5
10 things in tech you need to know today 1. Apple has sent out invitations for its next iPhone event. The so-called iPhone 8 will be announced September 12 at the Steve Jobs Theater at Apple's new headquarters in Cupertino, California. 2. Facebook is expanding access to Watch, its new video hub for original shows. The company will be making its new hub for videos available to most of its US users over the next few days. 3. Analysts say Apple could convince people to buy the $1,000 iPhone by giving them free Apple Music. The Barclays analysts suggested that including a free year of Apple Music and 200GB of iCloud storage could make Apple $9.8 billion in extra iPhone revenue in 2018. 4. Uber's new CEO plans to take the company public in 18 to 36 months. Dara Khosrowshahi reportedly told Uber employees at a meeting in San Francisco this week that Uber needed to focus on "paying the bills" and regaining market share. 5. Hackers exploited an Instagram bug to get hold of celebrities' contact details. Instagram didn't give details of the bug, but said it related to its application programming interface (API). 6. Alphabet-owned Nest is launching a redesigned thermostat that costs $80 less than the original. It's called the Nest Thermostat E. 7. The US House of Representatives will vote next week on a sweeping proposal to speed the deployment of self-driving cars. The vote could bar states from blocking autonomous vehicles, congressional aides said. 8. The EU Competition Commissioner compared German car cartels with Google. Volkswagen, Daimler, BMW, Audi, and Porsche have to face drastic consequences in the diesel sector, Margrethe Vestager told Business Insider Deutschland. 9. Three more Legendary Pokémon are coming to "Pokémon Go". They're called Raikou, Entei, and Suicune. 10. China has announced plans to make a train that can reach speeds of 2,500 mph. The trains could "fly on the ground," according to those behind the project. www.businessinsider.com/10-things-in-tech-you-need-to-know-today-september-1-2017-9 |
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Post by huh on Sept 1, 2017 7:04:37 GMT -5
If this morning's normal hours market gets anywhere near the pre-market highs, it will have finally filled all those major upside gaps: NDX, SPX, DJI, and as a bonus even AAPL & IWM. Also, the last of the downside gaps will have been filled for VXX. XLF still has a tiny little gap up @ 25.04, but XLF looks weak these last few days, so if that gap doesn't fill early today, I doubt it will (besides, XLF already came within 2 cents of filling it back on 08/17)
After those gaps fill, if market shows weakness or [gasp] even closes red on the day, I think that would spell major trouble for next week
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Post by theMist on Sept 1, 2017 8:30:03 GMT -5
There's a slanted iH&S that brokeout with this latest move in S&P
It does point to a test of SP2500, will be interesting to see if it plays out or fails.
Jim also points it out in his video BTW
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Post by walnut on Sept 1, 2017 8:56:12 GMT -5
Nice VXX short setting up for sometime
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Post by Herceg on Sept 1, 2017 9:01:15 GMT -5
Nice VXX short setting up for sometime I was thinking the opposite today as they are holding up better than I thought they would..............JMO and BOL |
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Post by walnut on Sept 1, 2017 9:04:32 GMT -5
A person will go broke fairly quick trying to time VXX longs... It usually finds a way to come back lower
Besides, for me, only looking for scalp trades
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Post by walnut on Sept 1, 2017 9:07:58 GMT -5
Wheeee
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Post by walnut on Sept 1, 2017 9:09:15 GMT -5
Glad I didn't short tvix at 15.67, was tempted
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Post by theMist on Sept 1, 2017 9:26:33 GMT -5
VXX Daily chart Back in December 2015 it took exactly a little over 2 weeks after 20dsma crossed over the 50dsma for VXX to massively spike to more than double Moving averages are clearly in bullish alignment (20,50) and went bullish on 8/30  |
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Post by huh on Sept 1, 2017 9:28:38 GMT -5
DJI filled the gap on the daily candle, but not the daily close from 08/16. I think it will close that gap as well ~22,025. Maybe that'll even get XLF to fill its 25.04 gap, and maybe VXX to fill its downside gap at 45.64.
But, after all these major index gaps are filled, I expect VXX to rise. My upside targets for VXX are 47.65, then 48.30, then 56.00, then 72-73
And maybe I'm thinking too far ahead, and maybe even dreaming. LOL
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Post by Herceg on Sept 1, 2017 9:29:54 GMT -5
Glad I didn't short tvix at 15.67, was tempted I still think you could short at will as long as in small increments to avoid getting trapped.........................these will always go down eventually.....................still holding UVXY short was never able to add more........................I hope to do so soon and walk away from it...........TVIX and VXX are options as well................looking at TVIX I had small short in low 40's in April and closed at 39 area........now in the 15's..............easy $$$$ pissed away because I thought I was so smart............hope to never make that mistake again.................next time I short or add short on UVXY, will not close it...............JMO and BOL............. |
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Post by walnut on Sept 1, 2017 9:34:06 GMT -5
I don't disagree, real plausible that market is beginning rollover... I'm thrilled if I can predict VXX 10 minutes in advance though.
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Post by theMist on Sept 1, 2017 9:36:23 GMT -5
VXX red hollow candle on hourly and body of candle outside lower BB
To negate that candle, VXX has to drop to 45.72 lod
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Post by walnut on Sept 1, 2017 9:45:38 GMT -5
Contango actually still climbing so far today
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Post by theMist on Sept 1, 2017 9:46:54 GMT -5
Contango actually still climbing so far today It looks like its still safe to short scalp scams BUT for me personally I wouldn't hold short overnight |
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Post by walnut on Sept 1, 2017 9:51:26 GMT -5
Contango actually still climbing so far today It looks like its still safe to short scalp scams BUT for me personally I wouldn't hold short overnight Right no way |
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Post by theMist on Sept 1, 2017 10:05:46 GMT -5
It's been the pattern over and over again for S&P to breakout and keep running to hit its measured target without backtesting
Then 2-3 weeks later when no one expects, S&P sells hard to backtest the breakout
We're in the same situation again -- S&P never dropped back to backtest -- went straight up
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Post by theMist on Sept 1, 2017 10:22:11 GMT -5
7k long VXX in 45.90 range for scalp
stop just below lod 45.72
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Post by lasvegas77 on Sept 1, 2017 10:46:57 GMT -5
24% roll yield and 9% contango. Looks to me like this is going to get hammered down at some point today.
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