05/25/2017 Live Update

[fehro]

$BTC definition of Parabolic

worth a tiny nibble, short at $2800.

buckle up

[fehro]

/CL at 50d/200d this goes look to $48.91 50w SMA DXY 30m in bull flag.. will add to oil's pain

ding ding 50w $48.91 tagged

[fehro]

one of these things are not like the other

[Al_Dente]

OLD
RE-POSTED FROM LAST NIGHT’S BOARD, with last night’s chart
New Highs on SPY and QQQ = always a good time to check on divergences.
We already know that this is a narrow based advance, with RSP (equal-weighted spy) negatively diverging, still.
We already know that small-caps (SML-600) vs large-caps (OEX-100) are negatively diverging, still.
THE GOOD NEWS IS THAT the advance-decline lines on QQQ and SPY are confirming the advance (AD lines are all in pink; see green circles).
But the broad market nasdaq diverges (bottom panel), more proof that the advance is narrow-based, which we know already, oy.
Eventually the broader market will need to catch up

[Cobra]

members only update at 12:25 pm
http://www.cobrasmarketview.com/2017/05 ... ay-update/

[Al_Dente]

one of these things are not like the other

is this a pop quiz boss
is there any prize money

[Daniel]

New Highs on SPY and QQQ = always a good time to check on divergences. We already know that this is a narrow based advance...

Example, today-- QQQ flirting w another intraday high, yet Naz advancers are well off their hod and actually closer to the low...

[fehro]

$BTC definition of Parabolic

worth a tiny nibble, short at $2800.

buckle up

[Trades with cats]

Why CL is important to the market or what I have learned.
There is an institutional favorites index of around 75 stocks that is where the big money is parked. It has oil companies in it. They also pay a large dividend. In fact a chart yesterday showed the dividend yield on the S&P was greater than on the junk bond index. Anyway, oilk, technology banking and drugs make up the deep pools of money so with OPEC screwing up again the market is missing an oar. Of course there is no way the FOMC minutes could be healthy for banks either. Then there is the fact that this country will not increase health care spending by 10% a year to infinity. Add to that congress finally starting to look into arbitrary drug pricing and you lose another oar.

Makes it pretty clear why we are seeing some blast from the past market moves. I sure remember when we routinely had the Asian trading middle of the night melt ups for no public reason. The smart guys with Bloomberg's explained that it was dirt cheap to move the futures market during that session. Then with the gap up open it is handed off to the HFT algos who lock the market.

Going into a long weekend with month end window dressing on deck for next week makes me think I will be living on ramen noodles for a little while longer. With all time highs on invisible volume with no news because of the hedge fund hotel stocks and even Goldman and B of A admitting publicly that things aren't right I think the odds favor finding lobster on the short side. The developing carmageddon story, the retail shopping neutron bomb blast and of course OPEC failing to make meaningful cuts all contribute to that feeling. Icing on the cake is the Fed saying they will end money printing this year leaving it up to BoJ and Super Mario. And Apple jumping the new I phone to $1,000 doesn't make me change my mind.

You all have a good three day weekend. I am meeting my family in Seattle, will be on the deck watching the sun set at Ray's Boathouse waiting to see if either of my sons-in-laws makes a token effort to pick up the check

[fehro]

$BTC definition of Parabolic

worth a tiny nibble, short at $2800.

buckle up

[fehro]

$BTC 2375ish should find support.. but could be very ugly tomorrow

[fehro]

$BTC 2375ish should find support.. but could be very ugly tomorrow

yeah, no..

[Trades with cats]

The bitcoin charts are right out of the bubble text book examples. Shows the three slopes and now the crash. Lance Roberts has posted all the trading rules of many very famous traders today. They all say it is never different. Bitcoin makes that point today in spades.

[Cobra]

don't think it's double top here, probably the pullback would be bought again.

[Al_Dente]

yeah, but fehro nailed it the minute before it crashed
kudos fehro, u 'da man

[fehro]

yeah, but fehro nailed it the minute before it crashed
kudos fehro, u 'da man

just dumb luck.. someone mentioned it , saw the chart, $2800 nice round level, daily screamed parabolic.. went for it..
also Thursday.. before a long weekend.. wouldn't you sell? and lock in profit? perfect storm

covered 1/2 at $2600 then rest near $2350.

[Trades with cats]

Well with "luck" like that who needs anything else!

[Al_Dente]

yeah, but fehro nailed it .....................

just dumb luck.. .........

bla bla bla
u 'da man
period

[fehro]

next trade…. watch /GC it could tank.. DXY at HOD

[Daniel]

Naz comp, QQQ, trans fresh HOD!

IWM barely green. The disparity continues.