The futures are in a free fall

Blaming the Trump fiasco is a cop-out from what many of us knew was coming for a while. I've been watching the charts for the past month and have been expecting this moment. I'm not calling a crash or even the top, but there may be a substantial selloff from here. Not to play fortune teller or anything, but I see 2275-2300 as the target in the ES if it closes below 2322 anytime soon.
 
trdes said:
Odds of 58 this week or next week are obviously a lot higher, as posted last night, not like thats some grand prediction that's basically just filling the gap. Intra-day too fast right now to call here
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Ok, have to admit did not expect 58 today really. Really sucks was hoping it was a few day process at least to allow for some clear shorting.
 
tommcginnis said:
Then 'we'll see!'
The TRIN has been at the statistically-neutral 1.0-1.1 range. (It popped to 1.20 at one point, which is still not MASSIVE SELLLLL-OFFFFFF range....)

The VIX (THANK GOD) has some meat on it, but boyyyyy, that top-side is so nasty.
The whole *market* right now is nasty: this is not market *nor* economy-driven!! It's all a freakin' HERD OF BLACK SWANS come steamin' past.

(Yes, I wrote, "herd." I did!)

Economy-wise, "business as usual" will return, but right now, there's a fog of political/event risk obscuring the otherwise smooth sailing.
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I told a buddy that if we didn't make a new low between 1:30 and 2pm, we'd be okay. But nope.
I am shocked ("Shocked, I say!") that the VXST hit 20 at the close. Yowwwww-ser.
I didn't exactly want to but a little voice in my head said, "Write!!!!!" so I went out to Jun09, and wrote $5-wides at at 2315 (scary!!) and 2410. We'll see how wise that was.
Right now, I'm wrestling with May19. With some vol tomorrow, I'll be moving stuff to May26.

IB must *love* my ass. A fat day for them.
 
SO!!! BACK TO THE ORIGINAL POST!!!

Yeah, a good 1-day, 1.8% drop -- not *quite* a "freefall", but .... close.
If we do it again tomorrow? Two-in-a-row? Yeahhhhh, getting pretty close.
 
tommcginnis said:
SO!!! BACK TO THE ORIGINAL POST!!!

Yeah, a good 1-day, 1.8% drop -- not *quite* a "freefall", but .... close.
If we do it again tomorrow? Two-in-a-row? Yeahhhhh, getting pretty close.
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We're "+7" in the SPX, but the TRIN is WHAT?!?!? A materially-bearish 1.3?!?!

This stinks of sell-off, but we're rising on volume. And with the TRIN, while the initial value is important, the *direction* of the TRIN really rules the roost. And the moving average is rising. That's screwwwwwwwy.

And major scary. *Not* very trustworthy.
 
NYSE_TRINmay182017.png
 
java said:
Don't use BBC as a source of trading information.
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%%
LOL Or CNBC; unless Jim Rogers is on occasionally.One elite trader noted CNBC has under performing money managers trying to get you to help them out of their bad trades/investments.....
 
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