Profile picture
, 61 tweets, 20 min read Read on Twitter
Let’s get this #mcm_chartstorm going

1/

Let’s start with the $INDU
2/

And $SPY $SPX have the same pattern & perfect symmetry BTW imo
3/

$SPHBI High Beta index made a perfect kiss of resistance
$SPX
4/

Relative performance leaves a lot to be desired...banks, financials and Transports lagging big time
$XLF $BANK $TRAN $SPX
5/

Coincidence?

The last time the markets were this ebullient they bounced same number of points before failing...BIG DIFFERENCE, HOWEVER, is that last time $SPX reacted to new lows after this event was in a bull market now its in a bear market. Should be much more significant
6/

Here is a closer up view of the same chart $SPX
8/

Rates and $VIX are not playing ball with the thesis imo of buyers of $SPX $INDU and $NDX
9/

$WOOD while its rallied nicely - stopped exactly at Initial resistance - a failure in Lumber is a failure in the economy imo & translates to the markets
10/

A closer look at $SPX resistances
11/

on $SPX hourly chart C waves of zig zags have been characteristically weaker than the A waves...if this holds well...

Just take a look
12/

A 2 hour chart of $SPX shows index at key resistance area that we were pounding the table on as a huge issue on the way down if broken...

Now its being retested
13/

$NYSE has to be one of the prettiest charts out there...behaving extremely technically and well right at very important resistance
14/

RUNNING CORRECTION WATCH...rug pull seems imminent imo $COMPQ $NASDAQ $SPX #SPX $NDX
15/

#MSWORLD index is showing a smart looking candle but that has been stopped by converging resistance...would imagine it being extremely difficult to breakthrough this resistance
16/

$QQQ at significant resistance area & inflection point?
17/

Another look at $QQQ
18/

Hmmm

$HYG $LQD $TNX $SPX
19/

Well what do we have here? Short squeeze in credit land failed at resistance (like tons of them that we are monitoring) $SNLN
20/

More credit getting rejected out of an epic short squeeze but NO improvement in credit quality or liquidity - all have gotten worse imo $FLOT
21/

$BKLN Is acting again just like all the other credit instruments huge squeeze into a failure at resistance - this could be & is very likely EXTREMELY BEARISH
22/

Here is another look at $BLKN vs $SPX - “things that make you go hmmm“ to borrow a phrase (cc: @ttmygh)
23/

RUNNING CORRECTION WATCH = $AAPL

This spells trouble unless #AAPL recovers and recovers NOW
24/

$AAPL - not pretty
25/

$BKX Banks at heavy overhead resistance (could try to give it a better test...but a reversal now, would be a big ball drop by buyers and appears to be the most likely outcome imo
26/

Copper and rates are very close to telling an epic story and it won’t be pretty if it plays out imo $TNX #Copper $SPX
27/

$NIKK Nikkei is getting a very labored bounce as it looks here vs $SPX
28/

Micro caps $IJE were murdered on the way down and now are at major resistance - if credit would actually improve then these firms (many of them zombies) would find the spigots reopen but this does not appear likely imo
29/

Look who has been buying puts? Professionals!

$OEX is the professionals market and the best options market imo there is. These traders tend to buy puts when protection is warranted rather than fear the highest - though they do that sometimes too $SPX
30/

$NDX
31/

$XLF
32/

$NYA $NYSE
33/

$NAS $NASDAQ Composite
34/

$MID Midcaps 400
35/

$VIX vs $SPX
35/

More volatility products $VXO $VIX $VXN $VXD $OVX
36/

#CL_F $WTIC Oil... hmmm
37/

When $Util Utilities start to fall and if they breakdown then we know even this defensive area of the economy can not offer protection from economic risk or impacts of deleveraging
38/

What could happen to transports... $TRAN
39/

Short $FAANG got smacked back to support $FNGD is looking quite interesting here
40/

If anyone remembers these guys, $HFXIX is supposedly a HEDGED FUTURES STRATEGY where they use options to offset futures positions. In 2017 they were single handedly responsible for needing to settle something like $100 to $150 billion notional in futures

Next blowup coming?
41/

$INDU yearly 2018 candle remains ugly and it seems unlikely to us that the 2019 candle is going to be a thing of beauty
42/

For perspective here is a different view of $INDU over 100 years or so
43/

#Volatility $VIX $VXO etc
44/

#Volatility $VXO $VIX etc
45/

Another view of the Credit/Leveraged Loan Market non-confirmation of $SPX highs on this bounce $FTSL
46/

A look at the short-term $INDU. Breaking down the channel or 23760 support would spell troubld
47/

Liquidity Gauge #BTCUSD shows imo that liquidity is likely of being under significant stress and would imply lower #crypto and lower asset prices generally going forward since #BTC can not catch a bid & is a symbol of excess of central banking monetary policy/credit creation
48/

While Advance/Decline statistics have been rendered mostly useless by the constant credit driven consolidations and available float declines (share buybacks) the ratio of $NYAD to $CPCE (equity put/call) is a great tool and shows participation issues on this rally $SPX
49/

A look at the major indexes side by side $SPX $INDU $COMPQ $NDX $RUT
50/

A longer-term view of $NYAD vs $CPCE & the $SPX
51/

$CPCE 5 and 10 day seem to be basing...if so a reversion back to the upside should be no surprise
52/

Not a very signficant panic for $NYSE imo
53/

Another look at $XLF - at major resistance
54/

Participants are still too bullish imo $SPX vs Bull/Bearish allocations
55/

$VIX was at the largest discount to real volatility we’ve ever seen $SPX $CREDIT
56/

A historical view of #Volatility and what $VIX would look like back over the last 100 years or so on the $INDU
56/

Execution Sentiment Index (ESI) a historical view shows that markets have been under signficant & emotional distribution since 2017 #ticktools
57/

Another view: Execution Sentiment Index Spreads show that trend is still toward distribution #ticktools $SPX
58/

Let’s take a real look at the Fear & Greed index & how reliable it is as a “close your eyes & buy” metric

Just like most sentiment, it can remain bearish/negative for much longer than people expect. was very negative without bounces during the meat of the 2008/9 crash $SPX
59/

IMO this is why $VIX dropped so much... CTA’s (Commodity Trading Advisors) & Managed Futures traders gave up ton’s of gains they finally made on the drop and were way over levered on $VIX futures which imo they capitulated on Friday - probably going short $VIX & Long #ES_F
60/

That’s it for us now...can’t look at another chart let alone post one...maybe will post the remaining 10 or so charts later
Missing some Tweet in this thread?
You can try to force a refresh.

Like this thread? Get email updates or save it to PDF!

Subscribe to mcm-ct.com
Profile picture

Get real-time email alerts when new unrolls are available from this author!

This content may be removed anytime!

Twitter may remove this content at anytime, convert it as a PDF, save and print for later use!

Try unrolling a thread yourself!

how to unroll video

1) Follow Thread Reader App on Twitter so you can easily mention us!

2) Go to a Twitter thread (series of Tweets by the same owner) and mention us with a keyword "unroll" @threadreaderapp unroll

You can practice here first or read more on our help page!

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just three indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member and get exclusive features!

Premium member ($3.00/month or $30.00/year)

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!