frodo75

frodo75 Updated 

ES is in overbought region. It is also against the 0.618 Fib resistance. Will it turn? Caveat Emptor and good luck!

frodo75

You want to know what will cause the market to crash? How about Trump or Pence closing down the "task force" on COVID. This zombie market is on life-support of govt dope, err, dole. If the supply stops, it pops like a bubble. It would serve Trump's staff well to talk about printing more and keep the COVID "threat" alive. It does not matter what they do in the...

frodo75 Updated 

On May 1st, I pointed out a pattern where two times previously, the market makers gapped the market down below the SMA 50 line exciting the bears and doomer-gloomers into a bear trap. I wondered if they would be successful the third time too. What do you know! The day is not over yet but I am guessing another low volume, bump and pump the market day with the...

frodo75

Divergences galore on NFLX. Will it drop soon? It is clear that Main street will open up by end of May. With the new economic realities, will the sheeple retain their NFLX membership? I think the market should be expecting a large drop in membership of NLFX. Weekly divergence on NFLX. Been there before. Will it be different this time? Caveat Emptor and good luck!

frodo75 Updated 

Volume on Friday was 125 million. Today was around 75 million. Let's read this again - NO SELLING VOLUME even with a gap down! This market does not want to go down. Big Money is not afraid of market going down. They just stopped selling. They must be on to something. Is it the carrot of CARES-2. A $2 Trillion dole being worked upon. I don't think the market...

frodo75

The sellers must have grown tired of waiting for the price to pick up and they finally decided to sell at whatever price they are getting. There is plenty of downside opportunity for GE from indicators. We should see red candles with increasing volume for confirmation. Don't know about targets. I "feel" it will go lower than the March lows. Caveat Emptor and good luck!

frodo75

281 floor and 284 ceiling before we go down to 271.

frodo75 Updated 

From price action, I am bearish on GE now. There was a huge surge in buying 2-3 days ago after which two things happened - the volume went down and the price started moving down. This means the buyers who were holding the price up have disappeared and the market is searching for the next lower level that will be attractive to the next batch of buyers. What will...

frodo75 Updated 

I point out two previous heists where MM gapped down below the SMA 50 and trapped bears. Will this trick work the third time too? Hourly MFI is pretty oversold like the last two times. Caveat Emptor and good luck!

frodo75

Divergence in BAC. Price is making higher lows but the MFI is making lower lows at the same time. Money is flowing out brother. How? Low volume bump and buy by algos. But how long can it last when real sellers show up? We can also see a head and shoulders. If the volume picks up and the HS line breaks, I feel this may be a good short. What do you think? Caveat...

frodo75 Updated 

Bearish divergence on AAPL. These companies are holding up the market. If they go down an inch, the market goes down many fold. Keep an eye out on the top stocks of SPY to know where we are heading.

frodo75 Updated 

Maybe it is too early but I don't see the volume associated with genuine selling. Will see by EOD. The market markers are checking if there is genuine interest in selling. Looks like NO. There is so much complacency in the market induced by free money that sellers are not bothered that the market closed below the 0.618 Fib the day before and then gapped down below...

frodo75 Updated 

Hourly MFI is near oversold. Will we see a push up in prices? Caveat Emptor and good luck!

frodo75 Updated 

I use Money Flow Index more than RSI or stochastics. Once you spend time on it, you can use it better than RSI at various time intervals. I notice that whenever MFI rebounds from 75 or so, within a few days, the higher high is set and there is a correction to the PSAR or SMA 200. Right now, the PSAR is in mid 270s. Maybe (or maybe not) we lick SMA 200 from the...

frodo75 Updated 

ES is overbought on the hourly. Would love a back test to 2850 to load up on SPY calls. Wet dreams :-)

frodo75

OK, we reached the initial (and the biggest) Fib target of 0.618. Reaching 0.786 Fib would have caused frenzied selling so the market makers will likely snake around this 290 area while the BTFD and Bag holders pick up the buying slack. Since reaching 30 (ok 30.5) the VIX, daily volume and price have gone up together. Smart money wants to start hedging their...

frodo75

BTFD has been norm since march lows. The market is moving up at searing pace and bears look like deer caught in the headlights. Wanted to share what I am seeing. It could be an early warning or yet another dip to buy into. 1. VIX started creeping up even as the market went up over the last couple of days. 2. We are at the most important FIB (0.618) where the...

frodo75

Market reached the 0.618 retracement. This should not to be easy to break. So far, the algos were allowed by the Market Makers to keep bump-buy from each other at low volume. The algos can't con their way up anymore as sellers who were waiting start getting interested in selling. The algos did not encounter many big sellers so far. Anyone who did was chewed up...