12/09/2016 Live Update

[Cobra]

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3 push up? the pullback if indeed likely would be bought anyway.

[fehro]

SPX opening near ATH 2250. Mind the morning gap.

[Cobra]

members only update starts here: http://www.cobrasmarketview.com/2016/12 ... ay-update/

[fehro]

DXY trying to break out of flag, and previous highs.. mind your oil and golds over the weekend

[BullBear52x]

game plan,

[BullBear52x]

start the day on northbound train.

/es pivot is at 2242. will reverse to sell under that level.

[logic!]

game plan,

Is it fair to call that a game plan?

[fehro]

Weekly Candles

[BullBear52x]

game plan,

Is it fair to call that a game plan?

in and out level what else? I don't project price if I am on the right side of the trend for the day what else is more important? Fair? I don't know, will it work? it always good to know if you are on the right side of the trend.

[JFR]

Opening shots.

[JFR]

Dow 30

[fehro]

ADV/DEC still diverging.. with PUT/CALL at extremes < 0.65

[fehro]

INDEX days.. trying to push tech and bios.. to push NDX to nATH

[JFR]

Gap up. But the stocks I am tracking are all over the map. Not so easy as the last couple of days.

[Cobra]

members only update at 10:07 am
http://www.cobrasmarketview.com/2016/12 ... ay-update/

[JFR]

Lots of ups the last 3 days. Not so much today.

[BullBear52x]

Potential of a fault breakout is here, next dip buying will tell me it is or not, for now bulls still on the stage.

[daytradingES]

for Friday

[daytradingES]

clippings for Friday 7:23 AM 12/9/2016
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Weinberg said "so many questions remain" on the implementation of non-OPEC cuts that the plan could fall to pieces.

"Since the oil sector in Russia is only partly state-owned the companies will need to get compensated for any production freeze/cuts," he said, adding: "Talking to the Russian companies, there is no indication or intention to cut as well."

OPEC last week agreed to slash production by 1.2 million bpd in the first half of 2017.

Venezuelan President Nicolas Maduro said on Thursday he had agreed with Iran to call for a summit of heads of state from OPEC and non-OPEC countries in the first quarter of next year to decide on strategy for the oil market.

Saudi Arabia and Iraq plan to supply full contracted volumes of crude to Asia in January, despite the cut commitments.

The market awaits weekly data on U.S. oil rig counts issued by oil services firm Baker Hughes later on Friday.
-StreetInsider
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OVERNIGHT MARKETS AND NEWS

Dec E-mini S&Ps (ESZ16 +0.03%) are up +0.03% as the market consolidates following Thursday's rally to an all-time high. European stocks are up +0.31% at an 11-month high on positive carry-over from the ECB's decision Thursday to extend QEE until the end of next year. European equities also received a boost after the Bundesbank raised its German 2016 and 2017 GDP forecasts. Jan WTI crude oil (CLF17 +0.81%) is up +0.75% ahead of Saturday's meeting in Vienna between OPEC and 14 non-OPEC nations to discuss production cuts. Asian stocks settled mixed: Japan +1.23%, Hong Kong -0.44%, China +0.54%, Taiwan +0.18%, Australia +0.31%, Singapore -0.09%, South Korea -0.42%, India +0.20%. Japan's Nikkei Stock Index rose to an 11-1/4 month high after the ECB's decision to extend QE fueled a rally in exporter stocks. Mar COMEX copper (HGH17 +0.82%) is up +0.82% after LME copper inventories slumped -7,800 MT to a 3-1/2 month low along with an increase in Chinese producer prices after the China Nov PPI jumped +3.3% y/y, the biggest increase in 5 years. The South Korean won fell against the dollar and the Kospi Stock Index closed lower after the South Korean National Assembly voted to impeach South Korean President Park for influence peddling.

MARKET COMMENTS

Dec E-mini S&Ps (ESZ16 +0.03%) this morning are up +0.75 of a point (+0.03%). Thursday's closes: S&P 500 +0.22%, Dow Jones +0.33%, Nasdaq +0.15%. The S&P 500 on Thursday rose to a new all-time high on carry-over support from a rally in European stocks to an 11-month high after the ECB extended its QE program until the end of next year. U.S. stocks were also boosted by signs of strength in China's economy after China Nov exports unexpectedly rose +0.1% y/y (stronger than expectations of -5.0% y/y and the first increase in 8 months) and after China Nov imports unexpectedly rose +6.7% y/y (stronger than expectations of -1.9% y/y and the biggest increase in 2 years).

Mar 10-year T-notes (ZNH17 -0.26%) this morning are down -12 ticks. Thursday's closes: TYH7 -9.00, FVH7 -2.50. Mar 10-year T-notes on Thursday closed lower on carry-over weakness from a slide in German bunds to a 10-1/2 month low after the ECB said it will cut its asset purchases to 60 billion euros a month from 80 billion euros a month starting in Apr 2017. T-notes were also undercut by the rally in the S&P 500 to a new record high, which curbed the safe-haven demand for T-notes.

The dollar index (DXY00 +0.40%) this morning is up +0.310 (+0.31%). EUR/USD (^EURUSD) is -0.0037 (-0.35%). USD/JPY (^USDJPY) is +0.84 (+0.74%). Thursday's closes: Dollar index +0.870 (+0.87%), EUR/USD -0.0138 (-1.28%), USD/JPY +0.27 (+0.24%). The dollar index on Thursday rebounded from a 3-week low and closed higher on weakness in EUR/USD which retreated from a 4-week high and closed lower after the ECB extended QE until the end of next year and ECB President Draghi said the ECB stands ready to expand QE if current asset purchases fail to shore up the economy. USD/JPY showed strength as the rally in the S&P 500 to an all-time high reduced the safe-haven demand for the yen.

Jan WTI crude oil prices (CLF17 +0.81%) this morning are up +38 cents (+0.75%) and Jan gasoline (RBF17 +0.38%) is +0.0051 (+0.34%). Thursday's closes: Jan crude +1.19 (+2.39%), Jan gasoline -0.0036 (-0.24%). Jan crude oil and gasoline on Thursday settled mixed. Crude oil prices were boosted by speculation that Saturday's meeting in Vienna between OPEC and non-OPEC oil producers will lead to curbs in oil production. Crude oil prices were undercut by a stronger dollar and by the slide in the crack spread to a 1-week low, which may reduce refiner demand for crude to refine into gasoline and distillate products.

http://old.barchart.com/newsletters/usmorningcall
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China's Shanghai Composite climbed 0.5%, narrowing its weekly loss to 0.3%. Sichuan Swellfun, Sichuan Langsha Holding, Yibin Paper Industry, and Neusoft Corp gained between 4.5% and 6.9%.

Major European indices trade mostly higher while Italy's MIB (-1.2%) underperforms after showing relative strength earlier this week. Yesterday's QE extension announcement from the European Central Bank was followed by reports that some policymakers argued for the program to be extended by a full year. Conversely, Bundesbank President Jens Weidmann did not agree with the extension altogether. The euro has faced more selling pressure today, falling 0.5% against the dollar to 1.0566.

In economic data:
UK's October trade deficit narrowed to GBP9.71 billion from GBP13.83 billion (expected deficit of GBP11.80 billion). October Construction Output -0.6% month-over-month (expected 0.2%; last 0.9%); +0.7% year-over-year (consensus -0.1%; last 2.5%)
Germany's October trade surplus narrowed to EUR20.50 billion from EUR21.10 billion (expected surplus of EUR21.50 billion). October Imports +1.3% month-over-month (expected 0.9%; last -0.7%) and October Exports +0.5% month-over-month (consensus 1.0%; last -1.0%)
France's October Industrial Production -0.2% month-over-month (expected 0.6%; last -1.4%). October Government Budget Balance -EUR85.50 billion (last -EUR83.00 billion)
Swiss November Unemployment Rate held at 3.3%, as expected

yahoo.com

[Trades with cats]

Just a reminder that we are rolling financial futures. Contracts expire next Friday. The Economaters video blog I follow on twitter was saying that there are an unusually large number of ES contracts outstanding which could lead to unexpected price swings next week. For the record they also are long the VIX as a play on the Fed decision.