Cobra's Market View

The ES is stuck in Groundhog Day again. Fourth touch of the low zone in 45 minutes. Can't trade it, can't out guess it.

fehro wrote:SPX 2443-2 last weeks highs... go.. look to fast move to 2434 possibly, gaps fills

key time. this goes.. looking for 2434.

(from Henry V, spoken by King Henry)
Once more unto the breach, dear friends, once more;
Or close the wall up with our blown up Accounts

Shaishen wrote:

Trades with cats wrote:Rut Row here we go again in the ES. I guess the bulls can't stay focused.

ES: Today value at 2443 right now which could indicate visit to yesterday's low, back to IB low again - break down now or another bounce?
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" indicate visit to yesterday's low " faster than I expected .. but .. had no trade on

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fehro wrote:

fehro wrote:SPX 2443-2 last weeks highs... go.. look to fast move to 2434 possibly, gaps fills

key time. this goes.. looking for 2434.

bombs away… 2434 fails, look to 20d SMA 2428 next.

Trades with cats wrote:(from Henry V, spoken by King Henry)
Once more unto the breach, dear friends, once more;
Or close the wall up with our blown up Accounts

“You will never find a more wretched hive of scum and villainy.”
(Obi-Wan Kenobi)

Range breakouts are hard for me to trade, particularly to the down side where you just know there is going to be be a v shaped reversal triggered by the algos at some point. Sticking to my theory, this close to end of quarter too many bonus checks are on the line and upper management is looking at the incoming retirement account money. I think odds favor the bears after the 4th of July four day weekend. Then in August we get the total eclipse of the sun, that ought to be good for somebody showing market correlations.

Full Monty internals
Dollar/yen per saishen (thank you). Is there a better symbol to use? (stockcharts doesn’t have many that update intraday)
Bottom two panels: red bear internals today

https://www.theice.com/products/3494176 ... -US-Dollar

TRADING SCREEN PRODUCT NAME
JPY/USD 12.5
TRADING SCREEN HUB NAME
NYCC
CONTRACT SYMBOL
KSN

I am not signed up for currency trading so I don't have it.

ES I show VWAP at 42.50 and falling. I expect it to be touched.

fib 61.8% mm fulfilled. in the past the current rebound would mean the low was in. let's see if today is different or not.

Market must need more shorts to squeeze.

Pasta Boss, have you ever evaluated TRIN as a breathe indicator? (AKA arms index)

speaker ryan
tax reform
live:
http://www.speaker.gov/live

te_fern wrote:Pasta Boss, have you ever evaluated TRIN as a breathe indicator? (AKA arms index)

Yes, it’s a wackadoo intraday
$ONE:$TRIN
I use it on the daily, straight and/or inverted
Show me what u use intraday boss

Al_Dente wrote:

te_fern wrote:Pasta Boss, have you ever evaluated TRIN as a breathe indicator? (AKA arms index)

Yes, it’s a wackadoo intraday
$ONE:$TRIN
I use it on the daily, straight and/or inverted
Show me what u use intraday boss

I pretty much use the indicators we discuss on the board. I do like to look at the $BPSPX and the summation indexes for daily direction....

spicer live in a few minutes
https://www.youtube.com/watch?v=bgqwD767EqU

From another Board...

Chemical Activity Barometer Remains Steady
https://www.americanchemistry.com/Media/...c0&urlid=1

WASHINGTON (June 20, 2017) – The Chemical Activity Barometer (CAB), a leading economic indicator created by the American Chemistry Council (ACC), was flat in June following a 0.2 percent gain in May, and a 0.3 percent gain in April. This marks a slowing from the average 0.5 percent first quarter monthly gain. Compared to a year earlier, the CAB is up 4.3 percent year-over-year, a modest yet continued slowing. All data is measured on a three-month moving average (3MMA).

On an unadjusted basis the CAB marked a 0.1 percent decline in June. On a year-over-year basis, the unadjusted CAB is up 3.6 percent, also an easing from the previous five months.

The Chemical Activity Barometer has four primary components, each consisting of a variety of indicators: 1) production; 2) equity prices; 3) product prices; and 4) inventories and other indicators.

In June, three of the four broad categories improved, as did the diffusion index (number of positive contributors relative to total indicators monitored), which rose to 65 percent from 53 percent in May. Production-related indicators were mixed to positive along with positive equity prices and inventory. Input and product prices were mixed to negative.

The Chemical Activity Barometer is a leading economic indicator derived from a composite index of chemical industry activity. The chemical industry has been found to consistently lead the U.S. economy’s business cycle given its early position in the supply chain, and this barometer can be used to determine turning points and likely trends in the wider economy. Month-to-month movements can be volatile so a three-month moving average of the barometer is provided. This provides a more consistent and illustrative picture of national economic trends.

Value still at 2442/43 - touching VWAP from below but not breaking thru it (yet). If you want to see patterns there could be an inverted H&S with target ~ 45 But we could first dip to ~ 40 to find more buyers... what do I know..

.

Please do remember that even though the paint looks like it is dry you can't touch it yet.