07/21/2016 Live Update

[Trades with cats]

And small cap futures get to first support at 1205, now we will see if they are rally going to sell or not.

[fehro]

IF SPX fills yesterday's gap and breaks 2163.. looking for 2143… support here. VIX would need to break out above cyan/red

open gap SPX 2165-64 from yesterday.. looking for a possible fill .. lower than that looking for 2143

[fehro]

this level cracks with VIX … looking for a fast 20 point drop

[Al_Dente]

NY advancing stocks are 1.5 x declining stocks
NY advancing volume is 2.3 x declining volume

NY advancing stocks are 0.9 x declining stocks
NY advancing volume is 1.1 x declining volume

[Cobra]

60 min ema20, should be a rebound here first then we'll see.

[Cobra]

members only update at 12:07 pm
http://www.cobrasmarketview.com/2016/07 ... ay-update/

[Al_Dente]

Note that 1/vix (middle panel behind spy) was not favoring a rally for the past two days
(ignore vertical lines)

[fehro]

VIX cracks above 3 week downtrend

[fehro]

SPX loose the 2162.. then 2158

[JFR]

As posted at the close yesterday, resistance at the top.

[JFR]

DOW 30. Lots of red. INTC at the bottom.

[Out of Bounds]

[JFR]

Construction machinery stocks were the best performers in the stock market today, led by Joy Global (JOY), which rocketed 18% in huge volume after Japan's Komatsu said it would buy the Milwaukee-based maker of mining equipment for $3.7 billion.

Joy Global, which has rebounded sharply this year along with mining stocks, is near a 52-week high. -- IBD

[fehro]

/ES 30m. on neckline of sloppy H&S cracks here .. look for 23 point drop

[Cobra]

members only update at 1:22 pm
http://www.cobrasmarketview.com/2016/07 ... ay-update/

[Al_Dente]

[Al_Dente]

“…there is a little-known loophole in Article 50 that would keep the UK in the EU even after the request is triggered. Basically, the UK can change its mind after the Article 50 request is made as long as no final agreement on Brexit has been reached.”
http://www.businessinsider.com/brexit-h ... ork-2016-7


Meanwile, Mark Zuckerberg is busy teaching his digital butler how to make toast:
http://www.businessinsider.com/mark-zuc ... ler-2016-7

[fehro]

SPX looking for gap fill .

[fehro]

INDU evening star, VIX morning star/hammer

[Al_Dente]

According to Randy Frederick, managing director of active trading and derivatives at Charles Schwab:
“The market might be 'topping out'”
Retail traders tend to use equity options to chase the market's direction for profit, often with a delay. So equity call options tend to rise after big market gains because traders are reacting to an up market.
Late last week, Frederick started to see equity options activity showing a fairly bullish bias a few weeks into the current uptrend.
"We see equity traders just now starting to take on bullish perspective…meaning they've become comfortable with the up trend that we're in now.”
"Especially on the retail side, it can oftentimes be a little bit of a contrarian [indicator] if the equity traders get a little bit too complacent. That could be a sign that we may be topping out just a little bit."
The red flag goes even higher when the institutional investors start hedging against a downturn while retail traders keep chasing the market's direction.
"I don't think we're quite there yet, but it does seem like we're starting to get to that point, and that's one of the number of reasons why I feel like the markets are probably leveling off here"
http://www.businessinsider.com/options- ... off-2016-7