02/08/2017 Live Update

[Cobra]

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Range, direction not clear. now near range low, so watch for possible rebound to range high.

[Cobra]

members only update starts here: http://www.cobrasmarketview.com/2017/02 ... ay-update/

[fehro]

SPX gapping down into Monday's open gap, mind the 20d 2280.

[BullBear52x]

a breakdown, I am looking for 20-24 points from here.

[fehro]

SPX gapping down.. possible island top, double top. . 60m.. fwiw.. 20d 2280 key .. near some support kinda.. daily *daily red line tweaked

[Trades with cats]

Possible fireworks at 10:30. Goldman wrote a big piece that was out last night saying Government estimate of gasoline demand had to be wrong (drop of over 6%). If Government is close to right should be epic build and prove we are in recession. If Goldman is right could trigger a relief rally.

API report last night was largest build since 2014. Market did not crater, after all it was after hours and the notoriously noisy API report, but if DOE confirms after a huge build over the last 4 weeks this may unnerve the specs.
http://www.zerohedge.com/news/2017-02-0 ... -recession
API Last night
Crude: +14.227MM
Distillate: +1.373MM
Gasoline: +2.903MM
Cushing: +624K

[Cobra]

looks like a valid range breakdown, targeting 2274.

[fehro]

IWM at key level.. horizontal support Nov highs, Jan lows.. it goes.. look out below! TLT strong… VIX nears 50d SMA USO nears 20w/200d SMA

[Cobra]

members only update at 10:00 am
http://www.cobrasmarketview.com/2017/02 ... ay-update/

[BullBear52x]

out first wait for new sell setup. Pos D.

[fehro]

SPX smack in the middle of two open gaps.. and minor support and resistance looks weak.. lean down.. not sure.. may fill upper gap

[BullBear52x]

back on southbound train. hope today is not a range day. will find out soon.

[fehro]

SPX smack in the middle of two open gaps.. and minor support and resistance looks weak.. lean down.. not sure.. may fill upper gap

NDX strong fills morning gap goes green.. IWM weak at LOD.. SPX filling morning upper gap

[BullBear52x]

playing hard to get, I am a little early on the last sell.

[BullBear52x]

No new LOD from here we are going sideways again today, buy lo sell hi crap again.

[Trades with cats]

Zerohedge saying the squeeze of the epic spec short in US Treasuries has started.

[Al_Dente]

Yesterday:
“The S&P Has Now Gone 36 Days Without A 1% Intraday Move: The Longest Streak In History”

[Trades with cats]

London based Reuters energy reported John Kemp (he who makes EIA charts easy to read) tweeted a really weird fact about Brent crude futures.

[Trades with cats]

From Zerohedge
Following last night's shockingly massive crude build reported by API, DOE data confirmed the ugliness with a 13.83mm build (over 5 times larger than the expected 2.5mm build). Cushing also saw a major unexpected build but Gasoline and Distillates saw lower than expected builds (Gasoline draw). Production rose to a new cycle high.



API

Crude +14.27mm (+2.5mm exp)
Cushing +624k
Gasoline +2.903mm (+1.5mm exp)
Distillates +1.373mm
DOE

Crude +13.83mm (+2.5mm exp)
Cushing +1.143mm (-500k exp)
Gasoline -869k (+1.5mm exp)
Distillates +29k (+500k exp)
The 2nd biggest build in US history for crude stocks but Gaosline unexpectedly saw a drawdown...

[Trades with cats]

Wow that is quite a move in small caps. No idea why, guess eventually we will find out.