Cory's Insights – Wed 1 May, 2019

Live – Watch the FOMC Press Conference Here Starting At 2:30pm EDT

Feel free to comment below with your thoughts. I will be chatting with a couple people after the press conference to get some more thoughts.

  1. On May 1, 2019 at 12:30 pm,
    larry says:

    /ES…unbelievable lesson….there was simply NO necessity or reason to anticipate selling prior to fed day….Could have save all the hassles of averaging in and just wait a bit after the fed meeting….ridiculous in a strange way……The markets are supposed to be discounting mechanisms they are more like traffic lights lately….How this helps on timing the gold miner entry is also unclear….

  2. On May 1, 2019 at 12:45 pm,
    cfs says:

    Except a knock down typically happens. I bought another 500 oz of silver close to bottom for the day.

    • On May 1, 2019 at 1:11 pm,
      irishtony says:

      Hi CFS…Was that real silver , or Micky Mouse paper silver ?

  3. On May 1, 2019 at 12:45 pm,
    OOTB Jerry says:

    This is the REAL STORY……concerning inflation… do not need the FEDSTERS to tell you anything…..what a joke

  4. On May 1, 2019 at 12:47 pm,
    larry says:

    SPY looks to have bearish engulfing candle today daily…but volume is nothing big or with conviction yet…but volume picking up on the 10 minute bars so it can come in quickly…../vix is 13.90 almost over the 50 ema at 14.12……can it gap down tommorrow AM…certainly…watch overseass for clues

  5. On May 1, 2019 at 1:22 pm,
    larry says:

    /ES 30 minute chart in wave 6 down from the high…..RSI(14) has no price divergences yet…so no predictions over night are possible yet….the one hour chart is same in wave 5 down and 2 hour chart is only in wave i down….also, the vix had a one day rate of change over 10%…and so a bounce is normal within 24 hours of that reading….volume not blow out so a bounce to get short into appears likely…but will it all occur overnight?…i do not trade futures…

  6. On May 1, 2019 at 1:24 pm,
    larry says:

    correction…my method recognizes that changes in direction often occur at wave 7’s eg wave G’s…if other things are present also such as rsi divergences and pattern completions….

  7. On May 1, 2019 at 6:30 pm,
    larry says:

    Are the Money Masters engineering a .382 retracement up on /ES??…Allow shorts more time to load up?…Provides more ammo to provoke a massive short covering rally to end the downturn in a week or so????engineering 101…shorts are the quickest to move on a position if need be…that is why they are tough to trade…/

  8. On May 2, 2019 at 6:33 am,
    Chartster says:

    The only charts that look good are inverse or short instruments.
    I guess the everything bubble is here?
    PMs, stocks, bonds, commodities and even EMs look bad.