yupper it can, kidman. Those on some awesome candles on the major indices as well as certain sectors (all to see at 3:50pm)--, strong strong signal a likely swing low........ and one's buying in the oversold condition too boot. What's not to like? Probability is STACKED for a short term run. HOWEVER, very headline sensitive market, so a nutty headline can break what the technicals are sayin. Like the SPY moreso than the QQQ's as the former reclaimed its 8 EMA- its been below it since mid May. There's a gap to fill just under $285- that's a magnet, target. But i do like both ....and oil also signaling she's set to rebound, this is more evidence for the equity short term bulls. ... would be great if the qqq's can reclaim its 8 ema tomorrow
Powell to the rescue.........
"Stocks Jump as Fed's Powell Suggests rates could come down "
CHICAGO — The Federal Reserve chairman, Jerome H. Powell, said on Tuesday that the central bank was prepared to act to sustain the economic expansion if President Trump’s trade war weakened the economy. His remarks sent stocks soaring as investors predicted a cut in interest rates.
“We do not know how or when these issues will be resolved,” Mr. Powell said of the United States’ trade disputes with Mexico, China and other nations. “We are closely monitoring the implications of these developments for the U.S. economic outlook and, as always, we will act as appropriate to sustain the expansion, with a strong labor market and inflation near our symmetric 2 percent objective.”
Mr. Powell did not explicitly say that the Fed would cut interest rates, but his comments sent a signal that the central bank was watching Mr. Trump’s trade wars warily, ready to fend off any economic damage.
.........
56% chance of a rate drop by end of next month, with a 93% chance by year end
"Stocks Jump as Fed's Powell Suggests rates could come down "
CHICAGO — The Federal Reserve chairman, Jerome H. Powell, said on Tuesday that the central bank was prepared to act to sustain the economic expansion if President Trump’s trade war weakened the economy. His remarks sent stocks soaring as investors predicted a cut in interest rates.
“We do not know how or when these issues will be resolved,” Mr. Powell said of the United States’ trade disputes with Mexico, China and other nations. “We are closely monitoring the implications of these developments for the U.S. economic outlook and, as always, we will act as appropriate to sustain the expansion, with a strong labor market and inflation near our symmetric 2 percent objective.”
Mr. Powell did not explicitly say that the Fed would cut interest rates, but his comments sent a signal that the central bank was watching Mr. Trump’s trade wars warily, ready to fend off any economic damage.
.........
56% chance of a rate drop by end of next month, with a 93% chance by year end
whoa nelly!!!!!! China last week PMI was very poor, and now the USA unleashes this;
[h=1]ADP private-sector job growth tumbles to a 9-year low in May[/h]
The numbers: Private-sector employers hired just 27,000 people in May, payroll processor ADP said Wednesday. That badly missed the forecast of 175,000 jobs from economists surveyed by Econoday.
:monsters-
What happened: Small business slashed 52,000 jobs in May, ADP said. Medium-sized firms added 11,000, and large companies added 68,000.
Goods-producing industries shed 43,000 jobs, mostly concentrated in a 36,000 loss for construction; while the service sector added 71,000.
“The economy’s weakening,” ADP architect Mark Zandi said on CNBC this morning. “This number overstates the case,” he added. It’s important to note Zandi used the exact same words last month in describing an upside surprise.
“Growth is slowing, and it’s slowing very sharply," Zandi added. “Business capex is dead in the water.”
Big picture: ADP’s report can be used as an early read on the closely-watched Labor Department jobs report that’s released two days later, but its track record is imperfect. In April, however, ADP came close: it reported that 275,000 private-sector jobs had been added, and the BLS reported a gain of 263,000. ADP revised its April read down to a gain of 271,000.
............
yeah, Powell will be dropping rates
[h=1]ADP private-sector job growth tumbles to a 9-year low in May[/h]
The numbers: Private-sector employers hired just 27,000 people in May, payroll processor ADP said Wednesday. That badly missed the forecast of 175,000 jobs from economists surveyed by Econoday.
:monsters-
What happened: Small business slashed 52,000 jobs in May, ADP said. Medium-sized firms added 11,000, and large companies added 68,000.
Goods-producing industries shed 43,000 jobs, mostly concentrated in a 36,000 loss for construction; while the service sector added 71,000.
“The economy’s weakening,” ADP architect Mark Zandi said on CNBC this morning. “This number overstates the case,” he added. It’s important to note Zandi used the exact same words last month in describing an upside surprise.
“Growth is slowing, and it’s slowing very sharply," Zandi added. “Business capex is dead in the water.”
Big picture: ADP’s report can be used as an early read on the closely-watched Labor Department jobs report that’s released two days later, but its track record is imperfect. In April, however, ADP came close: it reported that 275,000 private-sector jobs had been added, and the BLS reported a gain of 263,000. ADP revised its April read down to a gain of 271,000.
............
yeah, Powell will be dropping rates
China issues US travel warning over 'shootings'
China has warned its citizens to "fully assess the risks" of travelling to the US given recent "shootings", as tensions between the superpowers rise.
The Ministry of Culture and Tourism warned of threats such as robbery and gun violence, state media said.
China's foreign ministry also said US law enforcement agencies have been "harassing" its citizens with interrogation.
It comes amid a power struggle between the China and the US over trade.
The US reignited the trade war with tariff hikes in May, and broadened the conflict by blacklisting Chinese tech giant Huawei.
Both sides have imposed tariffs on billions of dollars of each other's goods over the past year, disrupting trade and hurting the global economy.
What exactly did China say?
"Recently there have been shootings, robberies and thefts happening frequently in the US. The Ministry of Culture and Tourism reminds Chinese tourists to fully assess the risks of going to the US for travel," said an anchor on Chinese broadcaster CCTV, according to a Reuters translation.
Foreign Ministry Spokesperson Geng Shuang told a press conference the warning was "necessary in light of current circumstances".
"For some time, US law enforcement agencies have been harassing Chinese citizens with interrogation upon entry or exit, and on-site interviews, among other forms," he said, according to China's foreign ministry website.
"Therefore the Ministry of Culture and Tourism issued the tourism reminder, and the Ministry of Foreign Affairs and the Chinese Embassy and consulates in the US decided to issue the safety reminder to raise safety awareness. That, I believe, is what a responsible government should do."
:monsters-
China has warned its citizens to "fully assess the risks" of travelling to the US given recent "shootings", as tensions between the superpowers rise.
The Ministry of Culture and Tourism warned of threats such as robbery and gun violence, state media said.
China's foreign ministry also said US law enforcement agencies have been "harassing" its citizens with interrogation.
It comes amid a power struggle between the China and the US over trade.
The US reignited the trade war with tariff hikes in May, and broadened the conflict by blacklisting Chinese tech giant Huawei.
Both sides have imposed tariffs on billions of dollars of each other's goods over the past year, disrupting trade and hurting the global economy.
What exactly did China say?
"Recently there have been shootings, robberies and thefts happening frequently in the US. The Ministry of Culture and Tourism reminds Chinese tourists to fully assess the risks of going to the US for travel," said an anchor on Chinese broadcaster CCTV, according to a Reuters translation.
Foreign Ministry Spokesperson Geng Shuang told a press conference the warning was "necessary in light of current circumstances".
"For some time, US law enforcement agencies have been harassing Chinese citizens with interrogation upon entry or exit, and on-site interviews, among other forms," he said, according to China's foreign ministry website.
"Therefore the Ministry of Culture and Tourism issued the tourism reminder, and the Ministry of Foreign Affairs and the Chinese Embassy and consulates in the US decided to issue the safety reminder to raise safety awareness. That, I believe, is what a responsible government should do."
:monsters-
sure can, Kidman..BUT, it'll need help . Post #41 outlined the strong probability of a swing low with the candle that was forming at 3:50 pm on tuesday. Indeed on Wed the qqq's claimed its 8 ema. SPY, DIA, QQQ all above the 8 ema. Approaching resistance tho, in addition to a gap fill and the 50 SMA; imo, it will need fuel to blow through these-- Jobs data comes out tomorrow , a BIGGIE.
"The jobs report is Friday and economic reports don’t get much more important than this one"
"Economists expect to see 180,000 jobs added in May, but a much larger or smaller payrolls number could help determine when the Fed will move on interest rate cuts"
.............................
USO
2 yr weekly
the anatomy of this week's candle is not done as we have tomorrow still to go. IF oil is up tomorrow, this week's candle would be bullish for a swing low. Would prefer the candle to be green, doesnt have to be tho.
on the daily;
USO
6 month daily
bullish engulfing pattern today,...two big gaps to be filled . It CANNOT close lower than wed's close, or else; OUT
"The jobs report is Friday and economic reports don’t get much more important than this one"
"Economists expect to see 180,000 jobs added in May, but a much larger or smaller payrolls number could help determine when the Fed will move on interest rate cuts"
.............................
USO
2 yr weekly
the anatomy of this week's candle is not done as we have tomorrow still to go. IF oil is up tomorrow, this week's candle would be bullish for a swing low. Would prefer the candle to be green, doesnt have to be tho.
on the daily;
USO
6 month daily
bullish engulfing pattern today,...two big gaps to be filled . It CANNOT close lower than wed's close, or else; OUT
short term rubbish..............another BIGGIE tomorrow, as its clear the market is moving in anticipation of a rate cut. We are back to yesteryear: ADP atrocious, then fallowed by a miss on payrolls-- YET the markets rejoice, lol. The miss on payrolls wasnt awful tho, a good enough miss to fuel sentiment that come July 31 Powell drops rates. CPI tomorrow, it needs to be on the cooler side or else this swing may likely come to an abrupt end. Today's candles all signalling caution,...can never go broke taking a profit 
China trying to minimize trade damage with massive spending;
[h=1]Copper rallies on Chinese plans to accelerate infrastructure financing[/h]
China said overnight it would accelerate financing of major infrastructure projects through "special-purpose bonds" issued by local governments, the country's latest effort to bolster growth amid the trade dispute with the U.S.
.............
[h=1]Copper rallies on Chinese plans to accelerate infrastructure financing[/h]
China said overnight it would accelerate financing of major infrastructure projects through "special-purpose bonds"
issued by local governments, the country's latest effort to bolster growth amid the trade dispute with the U.S..............
keep an eye on Gold. GLD has been channeling for nearly 5 years. In this environment, she may have the fuel to breakout. GLD needs to break 130...boy oh boy, a break above and the gold nutters around the globe will return....with conviction
GLD
10 yr monthly
Central Bankers, rulers of the world , are about ready to add stimulus. First Draghi, then Powell.........China? more monies on infrastructure, they'd be building cities with no inhabitants ?
https://qz.com/1647791/12-trillion-of-negative-yielding-bonds-are-a-distress-signal/
[h=1]$12 trillion of negative-yielding bonds are sending a clear message of distress[/h]
USO
2 yr weekly
the anatomy of this week's candle is not done as we have tomorrow still to go. IF oil is up tomorrow, this week's candle would be bullish for a swing low. Would prefer the candle to be green, doesnt have to be tho.
on the daily;
USO
6 month daily
bullish engulfing pattern today,...two big gaps to be filled . It CANNOT close lower than wed's close, or else; OUT
cheersgif
that hammer pattern that formed on the weekly had a WONDERFUL long tail. For a swing low it carries very high predictive value. Wont work all the time , of course, that's why i added where the stop loss had to be. Once it broke the high of the hammer (buy limit order), its add the next tranche.........., much much lower volume today, altho another green candle and close at the high. ...can never go broke taking a profit
......I got the dinner tab bro.....Dr Lanquel to provide the edibles as dessert, may want to consider putting your MLB wagers in BEFORE dessertSPY
2 yr weekly
the candle print is small as the week just started. We can clearly see the market is near its top. What will fuel it, to break to new highs? ……..G20 in a couple of days. The market, imo, will do little until Trump/Xi meeting. If its positive, say , no more tariifs and we meet next month, ....and a tweet like 'Good meeting!! Xi is a good guy!! just received a nice text!!!' ……. could this be enough? Market is overbought, at resistance. If no good news , it can reverse rather aggressively later in the week, there's a gap to be filled on the DAILY chart at $290.25 ish, a likely magnet
Gold continues to power through...
if anyone had doubts whether the market is an important metric for keeping score.?...see below tweet
going to fire the kitchen sink at it folks. Deal will get done...eventually
Donald J. TrumpVerified account
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....Think of what it could have been if the Fed had gotten it right. Thousands of points higher on the Dow, and GDP in the 4’s or even 5’s. Now they stick, like a stubborn child, when we need rates cuts, & easing, to make up for what other countries are doing against us. Blew it!
@realDonaldTrump
<b style="font-weight: normal;"><small class="time" style="font-size: 14px; color: rgb(101, 119, 134); margin-right: 5px; white-space: nowrap;"> 11h11 hours ago</small><button class="ProfileTweet-actionButton u-textUserColorHover dropdown-toggle js-dropdown-toggle" aria-haspopup="true" style="color: rgb(101, 119, 134); font-style: inherit; font-variant: inherit; font-weight: inherit; font-stretch: inherit; font-size: 16px; line-height: 1; font-family: inherit; margin: 0px; overflow: visible; text-transform: none; -webkit-appearance: button; cursor: pointer; background: transparent; border: 0px; padding: 2px 9px; transition: box-shadow 0.15s ease-in-out 0s; display: inline-block; position: relative;" type="button">More</button>
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....Think of what it could have been if the Fed had gotten it right. Thousands of points higher on the Dow, and GDP in the 4’s or even 5’s. Now they stick, like a stubborn child, when we need rates cuts, & easing, to make up for what other countries are doing against us. Blew it!
ugly start to the week, ugly red candle forming on the weekly. Munchin desperately made a positive statement of the trade stalement , markets gapped up but the day is rolling over,. The SPY just formed a lower low, not good.SPY, DIA, QQQ all lost their respective 8 EMA's on yesterday's violent long red candle. ....G20 now.....what shall she do...........let's see how she closes!!!!!!
......let's see how she closes!!!!!!
