11/18/2016 Live Update

[Cobra]

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still it's a bearish rising wedge. not very bearish, just not very bullish either.

[Cobra]

members only update starts here: http://www.cobrasmarketview.com/2016/11 ... ay-update/

[fehro]

new day, fresh start SPX all time highs.. just 5 points higher.. 2193.81 opening at 2188ish. mind Tuesday's open gap 2165-68, 20w 2157ish
VIX 15m bullish falling wedge.

[fehro]

DXY **101.37 overnight HOD 102.50ish pink line, and on the monthly heavy resistance… not shown on this chart.

[BullBear52x]

start the day on northbound train.

Key level for me now is 2184 /ES

[fehro]

COMPQ eeks out a nATH

[Trades with cats]

DRYS Halted again.

[Trades with cats]

ES looks like mucho buyers at 83.50 and below. Tail city on 1.25 minute bars (2000 tick).

[Trades with cats]

Wicks above 84.25, could this be a nano range?

[fehro]

still divergence.. as SPY makes new highs with lower Adv/Dec + Put/Call

[fehro]

new day, fresh start SPX all time highs.. just 5 points higher.. 2193.81 opening at 2188ish. mind Tuesday's open gap 2165-68, 20w 2157ish
VIX 15m bullish falling wedge.

VIX wedge holding.. sPX sooo close.. bears argue near a double top on COMPQ /SPX dailies..

[Cobra]

members only update at 10:06 am
http://www.cobrasmarketview.com/2016/11 ... ay-update/

[BullBear52x]

crossed bearish now, but one more buy coupon left before I can say bears are real deal.

[Al_Dente]

NY advancing stocks = 1.1 x declining stocks
NY advancing volume = 0.91 x declining volume

[BullBear52x]

Clockworks. a little too low to comfort on this dip buying but it is what it is, first thing first.

[logic!]

Below, Dec 2015 in relation to the rate hike. Will we have a repeat of last year?

[BullBear52x]

bulls failed to hold support intraday.

[fehro]

DXY sharp up nHOD nHOW

[Mr. BachNut]

Some Friday BachNut...

The NYMO cycle is up.
The climb has been pretty steep with minimal corrective pullbacking since the election.
It seems like it has stalled since Tuesday and could be viewed as a little negatively divergent to price, which continues to rise.
I think it would be constructive (and kinda normal) to see a pullback toward the zero line soon before making higher highs to complete the up cycle.
But Mr. Market can do what it wants.

Yesterday, price tagged my last open gap up target.
I view the All Time High more as resistance than a target.
So, at this point, if resistance can be broken, I have blue sky until the upper keltner band target.
Somehow that doesn't feel in the cards to me, but seasonality is bullish ahead. So, the target is legit.
I do think asymmetry is shifting to the downside, and I have a collection of possible targets below.
Interestingly, there is a fair bit of space between the two highest down targets and the lower three.
The upper two could be tagged in a corrective move and set the stage for up trend resumption (just a scenario idea).
The lower three are intriguing because they were hit on election night in the futures market but not during the open session.
I am inclined to view a cash session trip to those overnight levels as possible unfinished business. (if not this year perhaps next)
That would be a change in trend, and perhaps a bad one. I think a break of the rising bottoms line connecting the June and November lows (especially after a new ATH) would be bad.
But I don't know what will happen...

I have been trading small since the election, primarily to give my charts time to normalize after a shock wave.
I had a little long on that was closed on my target hit.
I am short some Russell 2000 (TF contract) as of yesterday.
I confess to discipline breakdown as I do not have a triggered setup here.
The thing is just up huge and 11 days in a row. The money flow index stalled yesterday at an overbought level.
So, a down day of some profit taking seems reasonable to anticipate, but I could just end up being squeeze bait.
I'll score this as leakage if I stop out, but I am going to give it a shot to work on a discretionary basis.

[fehro]

SPX hourly not pretty candles..