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05/26/2017 Live Update
05/26/2017 Live Update
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the pullback probably will be bought.
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the pullback probably will be bought.
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Re: 05/26/2017 Live Update
members only update starts here: http://www.cobrasmarketview.com/2017/05 ... ay-update/
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Re: 05/26/2017 Live Update
Levered smalls still trying to find a bottom...
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Re: 05/26/2017 Live Update
members only update at 10:02 am
http://www.cobrasmarketview.com/2017/05 ... ay-update/
http://www.cobrasmarketview.com/2017/05 ... ay-update/
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Re: 05/26/2017 Live Update
morning hourly hollow red.
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Re: 05/26/2017 Live Update
Tick maybe moving slightly up now....
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This is not investment or trade advice.
Re: 05/26/2017 Live Update
members only update at 12:00 pm
http://www.cobrasmarketview.com/2017/05 ... ay-update/
http://www.cobrasmarketview.com/2017/05 ... ay-update/
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Mr. BachNut
- Posts: 2688
- Joined: Thu Feb 24, 2011 2:28 pm
Re: 05/26/2017 Live Update
Friday BachNut
The NYMO cycle is up.
We don't have a sequence of higher highs and lows yet, but we have had multiple closes above zero and above prior highs.
Visually, NYMO looks a little odd now as the line shows a smooth curve rather than the usual jags. Probably meaningless but unusual.
Yesterday and today's NYMO action appears to be pulling back to the zero line, which is corrective and normal.
Price gapped up yesterday in spite of a declining NYMO.
Over the course of this rally, we have also added some new gaps to our collection.
I don't recall a market as gappy as this has been.
It seems like we no longer have a market of stocks but a stock market as overnight action in index futures seems to drive the underlying rather than vice versa.
I do believe this may have consequences as the lack of historical trading volume in these gap holes will provide little context for support in a decline.
But... it won't matter until it matters.
We hit one up target this week. I don't have any up targets now. Just blue sky.
There is the upper keltner above, but my study of prior action suggests some more correction required for that to qualify as a probable target.
The stack of down targets grew.
I am long, but I don't like the price.
I took off hedge longs last week and remaining shorts got stopped out this week in the red.
Net net I kept some profit from scaled out shorts, but the trade was structured to capture a downtrend or a retest of the low.
Instead we got a V bottom up trend to new ATHs. Fudge. Just more proof that I have no idea what will happen.
The SPX ascent over the last several days has been pretty steep. Perhaps a pullback to close yesterday's gap is in store. Don't know.
I am planning to watch and adjust if necessary as things unfold next week.
The NYMO cycle is up.
We don't have a sequence of higher highs and lows yet, but we have had multiple closes above zero and above prior highs.
Visually, NYMO looks a little odd now as the line shows a smooth curve rather than the usual jags. Probably meaningless but unusual.
Yesterday and today's NYMO action appears to be pulling back to the zero line, which is corrective and normal.
Price gapped up yesterday in spite of a declining NYMO.
Over the course of this rally, we have also added some new gaps to our collection.
I don't recall a market as gappy as this has been.
It seems like we no longer have a market of stocks but a stock market as overnight action in index futures seems to drive the underlying rather than vice versa.
I do believe this may have consequences as the lack of historical trading volume in these gap holes will provide little context for support in a decline.
But... it won't matter until it matters.
We hit one up target this week. I don't have any up targets now. Just blue sky.
There is the upper keltner above, but my study of prior action suggests some more correction required for that to qualify as a probable target.
The stack of down targets grew.
I am long, but I don't like the price.
I took off hedge longs last week and remaining shorts got stopped out this week in the red.
Net net I kept some profit from scaled out shorts, but the trade was structured to capture a downtrend or a retest of the low.
Instead we got a V bottom up trend to new ATHs. Fudge. Just more proof that I have no idea what will happen.
The SPX ascent over the last several days has been pretty steep. Perhaps a pullback to close yesterday's gap is in store. Don't know.
I am planning to watch and adjust if necessary as things unfold next week.
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Re: 05/26/2017 Live Update
SPX is hugging the support line today. Think we should know something by this afternoon or Tuesday....
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This is not investment or trade advice.
Re: 05/26/2017 Live Update
/CL tags 50d/200d may stall .. as DXY at HOD