03/03/2017 Live Update

[Cobra]

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no idea pullback was over or not, need see more bars.

[Cobra]

members only update starts here: http://www.cobrasmarketview.com/2017/03 ... ay-update/

[uempel]

Support levels:

[Junior Buffett]

Morning everyone.

I am guessing that, if Yellen do not give strong hint of interest rate hike in coming year. Market will not like it and may start going down till mid March.

[superxy]

when yellen speaks？


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[Junior Buffett]

when yellen speaks？


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1:00 PM today

[Al_Dente]

[Almanac]
“March and Beyond Largely Bullish after Positive January and February”
http://jeffhirsch.tumblr.com/post/15791 ... r-positive

[uempel]

Udpate:

[Cobra]

members only update at 10:03 am
http://www.cobrasmarketview.com/2017/03 ... ay-update/

[Trades with cats]

All the official media is focused on Chair Yellen's upcomming comments. But really does anyone think that this was not coordinated by the ruling three (Yellen, Fischer & Dudley). The ruling three may have great influence but it is a committee and it is majority rule and so far the majority have all ready spoken. She has one dove in reserve, if the the Feb jobs number next Friday is really bad then they can claim to be data dependent and wait a month with a tattered thread bare cloak of credibility.

[Trades with cats]

I think the ES is bouncing on the top of the December January trading range. My thought is the bulls are in trouble if it does't turn around soon.

[fehro]

All indexes red, RUT/TRANsports testing 20d SMA.. all lower lows … than yesterday… AND VIX/VXX RED with lower lows. nuts.

[Trades with cats]

ES Globex daily low 2374, ADR Globex low target 2366.50, RTH ADR low target 2369.50 which is also S2 floor pivot.

DX recovering from Wilbur Ross comments.

[Al_Dente]

And boom IWM fills the gap, while SPY is just dipping her toe into the gap
What happens next on IWM … don’t know … I don’t think she can break support without bouncing first… we’ll see……
15m

[Trades with cats]

350 tick TF (Russel 2000 E-Mini Futures)

Looking like it is setting up for a bounce into the London/Frankfort close.

[Al_Dente]

NY advancing stocks = 0.7 x declining stocks
NY advancing volume = 1.1 x declining volume

NY declining stocks = 1.4 x advancing stocks
NY declining volume = 0.9 x advancing volume

internals a bit weak, chop, range, at the moment

[QED]

When SNAP figures out a way to lose even more money the valuation of the company might get ridiculous!

[Al_Dente]

These Put/Call Ratio CHARTS ARE INVERTED so they become the Call/Put Ratio: up=calls and down=puts.
IT IS A RED FLAG when equity options are so far up but index options are way down.
The retailers (CPCE) are still buying calls, and the pros (CPCI) are buying puts.
This dovetails with our discussion this week, from BofAml and JPM client data, that institutions are selling to retail….
And this just in today from GS: “Investors Stopped Hedging”
http://www.zerohedge.com/news/2017-03-0 ... ged-market

[Trades with cats]

B of A is now forecasting a March rate hike. Previous forecast was a June hike.

Broken record comment. So money center analysts are now lining up for quarterly hikes instead of two a year. So longer term models of various asset values will have to be changed expect new portfolio balance recommendations that will be followed by professional advisors and pension managers. And of course a furious Chinese government as the US forces a financial crisis on their currency/banking system.

[champix]

GM all,
I would try to buy a dip in 2366/2370 area on ES, but not sure market will go this south today.