12/12/2016 Live Update

[Cobra]

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the pullback might be bought again. I see 3 push up, could be 4th push up then another try then a pullback finally possible as illustrated in the chart below.

[fehro]

MInd Friday's Gap.. SPX opening at 2259

[Cobra]

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

[fehro]

DXY under a little pressure this AM >20d SMA at 100.96

[uempel]

ES H (March) shows a reversal last night which corresponds roughly with +/- SPX 2270.

ES H (March) with a very distinct reversal at 2165 (resp 2170 for ES Z)

Ellipse time signal for Tuesday or Wednesday and red cycle suggests a new move for quadruple witch on Friday

Daily SPX linear

[JFR]

Chop city.

[fehro]

SPX green, VIX green and strong +6%

[JFR]

Dow 30

[Trades with cats]

ES March topped around 61 early in the overnight session. Looks like it is trying for a retest. I have where we are now for the R1 and 62 as the R2 so that could easily be the high for the day, or not.

[Cobra]

members only update at 10:05 am
http://www.cobrasmarketview.com/2016/12 ... ay-update/

[daytradingES]

TWC - weekend
"Black Gold- If anyone is still up I am awarding myself two bonus points for guessing Saudi motivation. They have announced that they will essentially do what ever it takes in the way of production cuts. WTI is over 53, according to zerohedge a 15 month high for this time of year. The best part is that so far it is noting but talk while they pump at record levels. I am wondering if they have already made up their potential lost income. Anyway, it is a long time until the January cuts start. But for now they are for sure the pied piper of crude. "

--------
Thanks TWC and good post also the prior weekend one. (I didn't read much on the weekend and worked on my spreadsheets).

I have a question for you.
When we see a price (Brent or WTI), is this the price the Saudis would get
or
is there another market say cash where they privately negotiate prices on a delivery by delivery basis?

If yes to the latter, are the contract sales price average posted somewhere?

[Trades with cats]

Saudi's set their own prices. I do not know of any index. It is usually reported along the lines of Saudi's offering a discount of $1.50 for January delivery to asian markets or something like that.

Bottom line is they are all producing at peak output and selling for an extra 8 to 15 a barrel over where it would have been without the theatrics. It is truly an impressive performance and demonstrates that you can not become married to a longer term technical pattern in the oil market. And really, who is irrational here?

[JFR]

What goes up ...

[BullBear52x]

Tick tock tick tock

[BullBear52x]

UNG /NG is in buy the dip zone (mid term) time to shop again.

[Cobra]

maybe pullback has small legs?

[Trades with cats]

Possible reason for the drop, at around 10:10 on twitter:
Genscape Cushing inventory: 68,428,795, +1,129,415 from week ended Dec. 02

We are going to be doing the oil tango (lots of fast reversals) as inventory numbers hit.

[brokebybernacke2]

long term pic, bulls want to test the 1929 top channel?! short term resistance round here - pop thru and maybe.......

[fehro]

MInd Friday's Gap.. SPX opening at 2259

SPX breaks 2256ish.. look for gap 2249--46

[uempel]

This channel suggests a higher high, but I've got an Andrews which suggests resistance. I'll post it in a few minutes ...

Linear

Log