03/27/2017 Live Update

[Cobra]

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the pullback may have legs.

[Cobra]

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

[brucekeller]

Banking stocks getting throttled here. GS down more than 3%

[Trades with cats]

Indicator calculated pivots and range for today. Amazing how Friday Power 1/2 hour managed a moon shot to VWAP (the dash dot blue or red line). I have not done a study to determine if it is worth playing as the last couple of months volatility hasn't usually included 10 point surges.

[fehro]

/GC got close/tagged 50w 1260, and 200d 1262… backs of.. as DXY nears 200d 98.65 (no tag) and 10 month uptrend tag

[Cobra]

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

[Cobra]

morning hourly hollow red.

[uempel]

Big bank 1 says SPX support 2350 is crucial, big bank 2 says 2326 is crucial, my Fibs suggest 2320ish is crucial ...

[Trades with cats]

Globex ES trading hours ADR high 37.25 low 20.00. Getting into green today will once again require breakout out of the recent trading range.

[fehro]

CPC/CPCE Tradingview PCC/PCCE … that one side of the boat is a little overloaded...

[Daniel]

IBB fresh hod! +1.3% from the Open.

[Daniel]

QQQ (130) and IWM (133) are now both back above the March lows.

[Trades with cats]

Oily tweets this morning
Genscape Cushing build +517k bbls in last week

OIL SUPPLY, DEMAND BALANCE IS `ALMOST THERE': QATAR'S AL SADA. Market almost believe you

[Trades with cats]

Small Cap TF fourth try at 1341 since London/Frankfurt opened. Was support during Asia only session last night, for a while.

[uempel]

Fib Fans suggest today's low might be it for a few hours or days ...

SPX daily with Fib support level around 2320ish ...

[Trades with cats]

Less talk more charts.

[fehro]

/CL W/D/60m.. possible bullish falling wedge on oil.. 60m.. not sure.. could see a sharp bounce soon-ish.. Daily looks awful with the weekly.. only saving grace is the *weak dollar. Dollar turns, aka Le Pen, Euro issues,.. look to $36 oil by summer

[Trades with cats]

ES 2328 standing tough so far. Five runs at it in a half hour is suprising, by snake standards it should yield soon.

[Trades with cats]

Smaqlls breaking out, wait to see if it has any legs or a re-run of earlier this morning straight up straight down pattern.

[Mr. BachNut]

We're finally seeing some down targets hit.
Middle keltner band target tagged this morning.
This is consistent with prior breaks from the upper band after putting white space above the band.
It is also probable that all gaps above the upper keltner get closed.
So, the gap target at SPX 2316.10 is now on deck.
I usually say "Not a prediction." at this point in a post, but against better judgement, I did declare this target as a prediction a few posts ago.
A lapse I will try to avoid going forward.

I am mindful that we have got a positive NYMO divergence building here,
but given that a big slug of the rally was concentrated in a relatively narrow set of stocks.
the index can correct quite a ways divergently if it is those positions getting unwound.
As we get to the new quarter, we may see rotation into those stocks/sectors that are currently going down the least as an idea.

I remain short.
I almost covered some on Friday, but that late day spike seemed like an option expiration squeeze/algo shakeout and I elected to hold to see Sunday open.
I did have a risk unit scaled out overnight last night.
Plan is to do nothing now and review after the close.
If bears get some go, protocol could have me scale another unit below.
With some profits booked, I can afford to be patient now.
Folks are pretty well programmed to buy the dip, and we have quarter end and a fresh gap above.
Perhaps this is all the correction we get, but we also could be in for a bouncing ball down the stairs.
I'll be looking for clear evidence of a turn to close out or reverse.