Stock Market Updates for May 9, 2018 | $SPX, $AAPL, $ES_F, $TWTR, $FB, $GOOGL, $ANET

Stock Market Updates for May 9, 2018 | $SPX, $AAPL, $ES_F, $TWTR, $FB, $GOOGL, $ANET

by | May 9, 2018 | Business, Market Update, News Feed, Pre-Market

The markets posted solid gains to start the week off yesterday. While they closed off of their highs, it was a great continuation of the rally that began late last week and extended into this week, we are currently looking at the Elliote Wave Counts that we described in the following Video

Last week’s impressive employment numbers sent stocks soaring on Friday. And Apple’s continued rally on better than expected earnings and word that Warren Buffett bet heavily on Apple shares helped ignite a tech rally, we still think $AAPL has higher prices, look for today’s video will be sent out shortly. We think $AAPL could see prices beyond 220 dollars

Are we getting close to end the three month long correction in the stock market, if so we could be setup to break out of the wedge, we are trading it mechanically. On $SPX right now we completed 4/5 and right now we looking for wave 5  around 2684-2693. For another entry setup to get us to 2710, which would still give us another entry for higher prices, again wait for the the updated video and charts..

We took $ANET long positions and we have been trailing our longs

 

“Probability is not a mere computation of odds on the dice or more complicated variants; it is the acceptance of the lack of certainty in our knowledge and the development of methods for dealing with our ignorance.” 
“The consequences are not trivial: It means that rational thinking has little, very little, to do with risk avoidance. Much of what rational thinking seems to do is rationalize one’s actions by fitting some logic to them.” 

Market News
1. IEA statement on global oil market conditions (IEA.ORG)
The IEA stands ready to act if necessary to ensure markets remain well supplied
2. Sears strikes a new deal with Amazon that brings tires to your house (CNBC.COM)
Sears will use its Auto Centers to help install car tires ordered on Amazon.
3. dough on Twitter (TWITTER.COM)
“CS $ARNA Valuation—Reiterate Outperform Rating and $58 Target Price”
4. Amazon.com: Online Shopping for Electronics, Apparel, Computers, Books (AMAZON.COM)
Online shopping from the earth’s biggest selection of books, magazines, music, DVDs, videos, el
5. Idera Pharmaceuticals Reports First Quarter 2018 Financial Results and (GLOBENEWSWIRE.COM)
EXTON, Pa., May 09, 2018 (GLOBE NEWSWIRE) — Idera Pharmaceuticals, Inc. (“Idera”) (NASDAQ: IDR
6. Potbelly CEO says company explored a sale, Restaurant News reports (THEFLY.COM)
Potbelly CEO Alan Johnson said the struggling brand explored a potential sale during a strategi
7. Dollar as `Wrecking Ball’ May Blot Out Iran’s Impact on Markets (BLOOMBERG.COM)
For all the diplomatic furor the U.S. created when it walked away from the Iran nuclear accord,
8. Why Mark Zuckerberg just put some of his best execs on a new experimen (CNB.CX)
Facebook CEO Mark Zuckerberg is putting some heavy hitters on blockchain to make sure his compa
9. EIA Oil Inventories as U.S. Pulls Out of Iran Deal (TRADERSCOMMUNITY.COM)
With U.S. Pulling Out of Iran Deal what do Oil Inventories mean?
10. Stocks making the biggest moves premarket: WMT, COTY, WWW, ADT, PRTY, (CNBC.COM)
Some of the names on the move ahead of the open.
11. DURECT Announces Amendment to Licensing Agreement with Sandoz Related (MARKETWATCH.COM)
CUPERTINO, Calif., May 9, 2018 /PRNewswire/ — DURECT Corporation DRRX, +0.56% today announced
14. COLUMN-Sanctions spell the end of OPEC output deal: Kemp (REUTERS.COM)
(John Kemp is a Reuters market analyst. The views expressed are his own)
15. Press Release :: Investors :: Adaptimmune (PHX.CORPORATE-IR.NET)
– Dosing patients in MAGE-A10 lung cancer study at one billion target cell dose –
16. Adaptimmune Reports First Quarter 2018 Financial Results and Business (GLOBENEWSWIRE.COM)
– Dosing patients in MAGE-A10 lung cancer study at one billion target cell dose –
17. Walmart Agrees to Buy 77% Stake in Flipkart for $16 Billion (WSJ.COM)
Walmart agreed to take control of India’s largest e-commerce company, Flipkart Group, for $16 b
18. Walmart agrees $16 billion deal to buy a majority stake in India’s Fli (CNBC.COM)
Walmart said on Wednesday that it would acquire an initial stake of roughly 77 percent in Flipk
29. 10 Stocks To Watch For May 9, 2018 (BENZINGA.COM)
Some of the stocks that may grab investor focus today are: Wall Street expects Booking Holdings
20. Volvo’s native Google integration is the next level for Android Auto (THEVERGE.COM)
We took a spin with Volvo’s new infotainment system that is based on Android P, bringing driver

 

See you in the  Chat Room..

Seeking Options Team

 

 

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Should we Adapt, How? Market potential for 2420 has increased, secure target for $SPX has been cut to 2950 | $IWM, $QQQ, $SPX

Should we Adapt, How? Market potential for 2420 has increased, secure target for $SPX has been cut to 2950 | $IWM, $QQQ, $SPX

by | Apr 8, 2018 | News Feed, RQLAB

Should we Adapt, How?

5

April, 2018

SPX
Trading Ranges
Next Levels

NEW Measures

Initially we will degrade the targets of all our leaders and ETFs from 2.618 to 1.618 in their sub-divisions that we do regularly in our live trading rooms.

Second, we will slowly work on underweight our leaders and we will move capital tactically to $SPX and its leveraged ETFs, limiting purchases from now on only if 2400 area is seen or if some parameters are met on the upside, like taking 2719 resistance in something more than 3 waves up. Most importantly, we should cut exposure on Indexes to only 20-30% of our portfolios once we arrive to the 2950 area and we must have cut most of our non essential longs.

Options: Much more importantly, we will limit option trading on companies; we should only trade options on $SPX/$IWM and $QQQ, trading options on companies from now on should be limited to when we are looking for 1% and 1.618 retraces, you have to adapt and limit the way you make money.

If you want to trade options, make sure you are pointing your target at secure 1% and 1.618 retraces, prepare for some companies to get to exuberant levels, but be aware something that goes up 10% today might/will be down 20% tomorrow, you will lose more money than what you intend to make by following something that goes up only by going up.

We will cut our target for the market to 3100 from 3200 and we should only go after the 3,000 level with limited capital, by the time market hits 2950 our only positions should be on indexes $SPX/$IWM/$QQQ.

Now, assuming 2950 will be seen before 2191, some parameters should be met, starting with the fact that the market should not break under 2373 area.

First approach, under 2587 we continue considering that 2420/2375 are targets, 2327 represents .764 below the standard 1%, this is our primary approach, while we think pullback can go below 2420, but we don’t think it will exceed 2327; if standard pullback is playing out. Traders should consider shorts for as long as market breaks and stay under 2587, and continue shorting when $SPX breaks 2506.  Round number for this first approach is 2373.9.

 

Second approach is a confirmation of first approach, below 2587 market might or might not find support at 2447, acceleration under 2506.3 only confirms 2447 is solid target. Acceleration down under 2447 only confirms our number at 2373 is secure.

 

Third approach, as shown in chart below, only points to 2422, implying extensions to 2373 might be short lived.

 

“A VIX future effectively serves as a means reversion indicator in that it tells us what the market expects as a mean”- Adam Warner

Conclusion:

Some new rules have been set, bears are right shorting the market, below 2587 we confirm 2506, below 2506 we confirm 2447, below 2447 we confirm 2373. Everything should be slowly under weighted, except for the indexes, where we can accumulate tactical positions. For example, if $SPX 2719 is taken and $SPX holds above 2687.5 on pullbacks, we can tactically go for 2823. By concentrating our energies on $SPX/$IWM/$QQQ we will avoid the risk of being too spread out.

 

Rules
  • Impulsive Waves always divide into 5 waves: Waves 1,2,3,4,& 5; followed by a corrective wave, typically A, B & C.
  • The waves that are numbered (1,2,3,4,5) are in the direction of the Trend.
  • The waves that are Lettered (A, B, C ) are against the Trend.
  • Structure = 5-3-5-3-5 (21) followed by 5-3-5 (13)
  • Wave 1 could divide into an impulsive 5 wave or a Leading Diagonal.
  • Wave 3 is always an Impulsive 5 wave and is never the shortest wave.
  • Waves 5 & C are always 5 waves but it could be an Ending Diagonal.
  • Wave 2, 4 and B always subdivide in 3 wave corrections.
  • Wave 2 Never moves beyond origin of Wave 1.
  • Wave 3 must go beyond Wave 1.
  • Wave 4 never moves into wave 1 range.
  • Wave A can be a three wave structure or Leading Diagonal.
  • Wave 5 often goes beyond Wave 3, if not it is called “Truncation”.
  • The Chart shows a bull Market. For a Bear Market the chart can be flipped and all the rules remain the same.
  • The same pattern can be viewed in all time frames: Thick Charts, 1 min, 2 min, 3 min, 5 min, 10 min, 15 min, 30 min, 1 h, 4h, Daily, Weekly, Monthly Charts etc…
Guidelines:
  • Waves 2 & 4 will almost always Alternate into ZigZags, Flats, or Combos.
  • Wave 4 can be Flats, Triangles or Combinations
  • Wave 2 which is usually ZigZag or a ZigZag combination.
  • Wave 4 Usually Terminates in the same area as the Previous Wave 4 of Wave 3.
  • Typical Fib counts for Wave 2 is 50%, 61.8% of Wave 1.
  • Typical Fib Count of Wave 4 is 38.2% or 61.8% of wave 3.
  • See the charts for other Fibonacci relations.
  • Often Waves ad-hear to the laws of Channeling:
  • 5 ends around the Chanel line extension of endpoints of 1-3, and
  • Wave 4 may end at the parallel line point 1-3. (please look at the charts)
Rules
  • ZigZag is always a 3 wave structure.
  • Structure = 5-3-5
  • Wave B never move beyond the start of Wave A.
  • Wave B is subdivided into a three wave pattern: zigzag, flat, triangle or any combination thereof.
  • Wave A can be either an Impulsive wave or a Leading Diagonal.
  • Wave C can subdivide into 5 wave structures: a Diagonal or an Impulse wave.
Guidelines:
  • Waves A and C connected is usually parallel to the Line connecting the origin of the ZigZag to point B.
  • Waves A and C usually are Equal in length.
  • Wave A and C are more often subdivided into an Impulse Wave.
  • Wave C is always ended beyond Wave A.
  • Besides Waves A & C usually being equal, the ratios in a correction are less accurate than in an Impulse Waves 1,3 & 5.
  • See the chart for Typical Fibonacci Retracements.

Glossary

R within links stands for Running

F within links stands for Forced.

(()) double parenthesis stand for macro count from 2009 lows.

As shown on the Chart below that the most probable count for VT, the Vanguard Total World Stock Index ETF.  We can see wave (2) was a running flat, beautiful in it’s nature, you don’t need to do anything; the flat plays and develops itself naturally, this is the reason I cordially invite you take it as natural.

We prefer this count over other more tortured lucubration, if we say for example, that this is a 1-2-(1)-(2); we will have an overlap in any subdivision that we force versus the February 2016 decline, it is clear here on chart  below

52.31 high of wave (1) versus 50.35 low of the 2016 decline, overlap is clear; now if we gracefully divide the counts as macro ((I))-((II))-((III)), definitely wave ((III)) off the 2009 lows has ran its course  at the 2.618 for wave V of macro ((III)), we have an overlap within macro ((III)), so please pay close attention because what I am posting here is important, and if you don’t read carefully we will make a tremendous mistake.

So, here is the important question, based on this chart alone, what is the standard pullback? Well, standard 1% for this chart  is 61.01 or a 17% correction from current levels. If this ETF tracks SPX perfectly, this would imply SPX should see the 2190 level. While the chart is beautiful, it’s implications are not. So first let me tell you what I think, I think primarily that bears are being honest and are playing it’s game fair, we, the bulls, are committing a mistake because our time is running out fast, our time to be aggressive on the long side is over gentlemen.

If some upside is left, it should be in the 5th of the V of macro ((III)), so we are playing the last squiggles of something that is ending, like miners that decide to work on a planet too close to a Supernova whose time is over, might explode anytime, we are playing a risky game… risk won’t bode well if we don’t play it with strict rules.

 

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JIM: Twilio is the future of cloud computing. $TWLO

JIM: Twilio is the future of cloud computing. $TWLO

by | Aug 11, 2016 | News Feed

As the DOW and S&P 500 making new all time high. There is also the most hyped tech IPO of 2016 is living up to expectations. Twilio inc. the cloud computing company is up 200% since IPO, good call from Jim Cramer.

Tuesday, 9 Aug 2016 | 4:06 PM ET
Jim Cramer said on Tuesday that the cloud communications company Twilio is the future of cloud computing as demand for its services rises.

$TWLO Stock ripping to all time high over 200%.

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Dr. Gloom and DOOM on TESLA’s future $TSLA

Dr. Gloom and DOOM on TESLA’s future $TSLA

by | Aug 11, 2016 | Business, News Feed

Marc Faber once again brings his dim view on the stock market and this time he takes on Tesla $TSLA.

He believes that due to fierce competition, the stock will stand no chance but to go back to ZERO.  Is this another classic false titanic alarm?

“What they produce can be produced by Mercedes, BMW, Toyota, Nissan. Anybody in the world can make it eventually, at much lower cost and probably much more efficiently,” Faber said Monday on CNBC’s “Trading Nation.”

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