Cobra's Market View

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no idea up or down here, need see more bars.

members only update starts here: http://www.cobrasmarketview.com/2017/04 ... ay-update/

If the opening low doesn't hold how about yesterday's RTH low at ES 2345, it was tested overnight in the Asian session.
Overnight Globex trading had much much higher volume than normal.

In the next few days there should be a move here. My best guess is that politics will move the needle.

Not very helpful for anybody who wants to play SPY or ES today

uempel wrote:In the next few days there should be a move here. My best guess is that politics will move the needle.

jA.png

Hmm... profit takers at the morning pop.. doesn't feel like this kidney is gonna hold...

There was nothing to trigger the algos.
Also this macro context is difficult to decipher, and by that I mean are the central banks really going to pull their market guarantee. So we will have plenty of Fed speak over the next several days as they try to convince the market that "there's nothing to see hear, move along".

I have been using the spiked punch bowl analogy for Fed policy. They cut way back on the bourbon, but the wine, sake and maotai havn't been. Now they are starting to reduce as well and to make it worse the Fed is talking about sending the band home. So I think all the talk is critical if you were trying to figure out when the last dance will be at this party.

Dudley at 12:15 at Princeton Club
Bullard Sunday at 11:05 Melbourne Australia
Yellen Monday 4:10 Live Broadcast Discussion with Ford Policy School Dean, Univ Michigan

So Fed is broadcasting the discussion and Chair Yellen will respond to tweets from the public. Could make for another wild night of trading if you play the futures and don't need sleep.

BachNut greetings to all.

The NYMO cycle is up.
We have had what appears to be a normal corrective move to the zero line but what happens next matters.
The bulls want another thrust up above the prior high to sustain the up cycle.
On the other hand, a lower low with another close below zero would suggest a NYMO down cycle is under way.
Guessing we get a decision next week.

Price appears to be consolidating... bombing runs notwithstanding.
It is hanging around the last NYMO benchmark and pinching a bit between a descending trend line and the 50 day MA.
To be this far into a NYMO up cycle in a bull market and have price basically unchanged from the last NYMO low is concerning.
Also, the study of prior breakdowns from above the upper Keltner suggests another tag or two of the middle keltner has some odds.
So, I have a bit of bearish bias. However, I think the opening range for the month (Monday's low to Wednesday's high) is important, and a break of those levels is likely to follow through.
At the moment, we are getting an inside day today too.
We'll see what happens.

I am flat. I had some long on last week but closed it out at breakeven. I did not like the position and bailed.
Plan to do nothing today. Next trade could go either way.

Did Trump order attack on Syria without Congress approval? Can President do that?

Same trading plan as yesterday.

Chart pattern is not looking healthy if LOD is taken down.

.
30-year Treasury bond gains 75% of the time from late April to late August

http://jeffhirsch.tumblr.com/post/15927 ... -time-from

Trades with cats wrote: ... So I think all the talk is critical if you were trying to figure out when the last dance will be at this party.

I just hope that they save the last dance for me!

https://www.youtube.com/watch?v=n-XQ26KePUQ

[Hey, it's Friday!]

All the trading was overnight, looks like everyone went to bed.
I am taking my dancing partner to a round of medical appointments, you all have a good weekend!

Junior Buffett wrote:Did Trump order attack on Syria without Congress approval? Can President do that?

No and Yes.