A taxing explanation for last week’s selling … On Fri, my CPA told me that many of his clients were in a state of shock regarding their Apr 15 tax returns. In particular, the tax on most capital gains is up to 23.8% from 15% in 2012, and the ACA new tax rate is 3.8% on other passive income. Let me hear now – OUCH!!! And … buying after the tax deadline has worked since 2000 …
Today’s Blood Moon update: stockmarketwhisperer (10:05) As I mentioned/hinted at out loud here Friday.. since bears ‘jumped the shark’ and blew their ammo off ‘too soon’ to the astro’s EXACT time of the aspects that brought the down…I warned it set us up for a rebound/inversion UP upon the exact dates (today)..and ta-da..here we are…… I wanted this retrace Friday (to 1832), as to keep the strongest of the power to hit down today, but when I saw it go down ‘too soon’ I KNEW/worried this UP would happen monday(today) .. SO… all I can say is today and tomorrow still have very large hope for more down, but I think it will be volatility instead. Lows should retest for viability, and there are 4 LARGE astro EVENTS tonight into tomorrow that should act as turning pts I am rather sure UP is coming wed/thurs that may be big.. BUT I am not trusting any one direction until then. Watch 8:55 and 11:28ishPT today …
william_blount (10:15) This means the lean has shifted. It should not be a surprise to try and trade back to the 1835 to 1844.5 area if the market holds the 1794 -1808.5 ZONE. If the bulls can get above the YELL at 1866.25 then the save is in place and 1 more new hgh will print. If the market produces a failing bounce to appx where the red ii is on the nano then the most bearish configuration will be in force using the 1823 and 1835 as back through and the market will be in REAL TROUBLE. The market has INVERTED T’s today. so, today tomorrow is the a up and the b down is next then the c up — that will all make SMW’ sense of time happy. (see the post at the bottom for more.)
Interesting tidbit buying stocks the Monday before has been a winner 18 out of 19 past – Easter – stephen_c.
Fed Chair Yellen speaks tomorrow at Federal Reserve Bank of Atlanta’s financial markets conference and wednesday at the Economic Club NY. Recent comments … “economy needs EXTRAORDINARY support for SOME TIME”. Yellen also said: “I believe that view is widely shared by my fellow policymakers at the Fed” “Economy Still ‘Considerably Short’ of Fed’s Goals” … “Fed Short of Reaching Employment and Inflation Goals” … “Recovery still feels like a recession to many Americans.” Again nothing new, as many have been thinking the recovery has had its bumps along the slow growth snail trail.
From last Friday 4-11-14: mts2 (12:05) Has WB assigned a primary 3 yet? Thanks! william_blount (12:11) LEAN is NOW MAJOR 3 of PRIMARY III or PRIMARY III assigned so yes LEAN is down BULLS are alternate count now. mts2 (12:19) do you have a/any SPOTS above to hold like 1835? Downside SPOTS 1808.5 and 1794. william_blount (12:21) we are deeply oversold, so vicious rally’s like the one this a.m. are part and parcel to BEAR LEGS but then they pecker out quickly — last hour tends to be more bearish — stuff like that, the tone changes. So, OVERHEAD 1835/44.5 SPOTS large resistance — back thru 1866 is BEARS in for trouble. I expect us to trade into the spots 1794, 1799, 1802.5 , 1808.5 on this move readily. the book ends 1794 and 1808.5 are the two major ones – because of their Fibonacci importance and the 1800 CASH LEVEL mts2 (12:25) thank you!
Today started with 348k ESM traded on Globex, trading range was 1823.75 – 1803.25. Friday’s regular trading hours (RTH’s), pit session trading range was 1808.00 – 1828.50 before settling at 1811.70, down 15.4 handles. Geopolitical concerns continue to hang over the equities in the Globex session. Retail sales jump … 1.1 vs 0.8 exp – most in 1.5yrs. Hallelujah – some good news - flips some weak shorts, but not enough to damage the bears. Also, Citi reported: mortgage originations dropped to a record low – negating some of the positive housing data of late.
Today’s RTH’s, pit session gapped 12 handles higher to 1823.10 – 1824.20, marked the early high as the index dropped to 1815.70 before grinding back up to a new intraday high of 1827.00 at 10:00 in modest to heavy volume in the early going. The VIX remains elevated, but has not yet converted the 18 area that has been previously mentioned here as an upside marker – high level of fear coming into the indices. stockmarketwhisperer (10:09) 1832 and 1803 hit in globex ONLY.. really leaves etf traders screwed.
stockmarketwhisperer (13:51) I’d like 1803 retested myself.. Dont underestimate overnight action….the big stuff is then (pluto retrograde, eclipse/full (blood)moon, Mercury stress to pluto, Mercury same degree as Uranus) = surprise/unexpected headlines. This is once in 500 year astro..stats may not pan out for a few days at least here… we couldnt even reach 32! globex low shouldnt be red haired stepchild… I wouldn’t rule out lower targets until tomorrow is in the rear view mirror
WOW … volatility, rollercoaster as the late afternoon got hit … A spike down 14 handles to briefly convert Friday’s settle of 1811.70 before bouncing right back to the highs 1828.00 area. The MrTopStep imbalance Meter, MiM, showed a small imbalance to the sell side before flipping to $100M to buy going into the close. On the cash close the futures were trading 1824.10 area before settling at 1824.50, up 12.8 handles on the day, while the VIX was trading 16.11 area, down 5.4%. Nearly 1.9M e-minis traded.
Eco calendar: http://www.investing.com/economic-calendar/
Below here was posted here since last Thursday: Admittedly, gazing into the stars is not for everyone, but this was posted in the MTS chat room, in the middle of Thursday night’s moonlit sky as well as earlier warning of a coming sea change in the air: stockmarketwhisperer (01:13a.m.) Hi… How are you all enjoying the huge volatility I warned of for late March/April? Pretty amazing but…. You aint seen nothin’ yet! While 60 pt swings are impressive… ‘wait…there’s more” This market is bi-polar…and the ‘stop/start’ energy I mentioned for this time frame is going to continue through middle of May… The remainder of the month starting Monday, is the center of the strongest astro alignments we will see in years. HUGE energy back to back…where 100 pts ES will get covered. Whipsaw city will really test what we traders are made of! Dont fall in love with a trend…there isnt any!
TODAY (Last Thursday) … has a choppy volatile enthusiasm that wants to go up, but after one touch into the 70′s (74?) (that will meet too much headwind and get caught in a choppy ‘go nowhere’ battle/malaise and drop into weakness by end of week . A stalling lower high top that will have to go test 53ish…but this week is actually calm before a 2 week storm of violent whipsaw action bigger than we have yet had. THE low of the month is still 10 trading days away…but Monday into Tuesday is a powder keg. We have Pluto changing direction, a full moon lunar eclipse thats a rare Blood Moon.. (watch out for MAJOR headlines hitting) ‘Skeletons falling out of govt closets’…, thats also going to light a fuse and intensify all key events and tensions, and God help us, more earthquakes, and 5 additional massive aspects…any of which can move the ES 50 pts alone, let alone all this jammed together like this… Blood Moons are harbingers for major key events in world history; this one should involve the middle east/Israel… Buckle up and get your beauty sleep this weekend. Stay safe! NOT the weekend to do speculative sports or travelling. There is some sort of over emotional disruption or eruption coming. Will bears drop the soap? No. But they will play hide and seek with it before they scare the crap out of everyone who owns an investment.