Cobra's Market View

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In the past this kind of rebound means the low was in. Let's see.

9:30am - Carney, Poloz, Kuroda, Draghi - confluence of banker speak..

SPX looses 2417, look to gap fill 2412-14.. then 50d 2405ish, then2387 /ES nears 20d SMA tag just 4 points higher.. looking to short .. mind 50d /ES if overnight lows go with conviction..

members only update starts here: http://www.cobrasmarketview.com/2017/06 ... ay-update/

fehro wrote:SPX looses 2417, look to gap fill 2412-14.. then 50d 2405ish, then2387 /ES nears 20d SMA tag just 4 points higher.. looking to short .. mind 50d /ES if overnight lows go with conviction..

dead cat bounce today

ECB blatant interference in the market this morning. If you have to use your big stick to enforce your will it is the start of the end of your power. Add that to Yellen's comments yesterday on eliminating crisis for "our lifetime" and I am marking my calendar as the date the era of central planning power peaked.

UUP 20 day low here. Donchian SELL rule invoked. (By those who don't diss Donchian).

Naz, SMH, IBB lod

XBD, XOP hod

I do love this! Zerohedge on twitter for the live feed of the central banker summit meeting.

2:30 London time today http://www.zerohedge.com/news/2017-06-2 ... -ecb-forum

fehro wrote:SPX looses 2417, look to gap fill 2412-14.. then 50d 2405ish, then2387 /ES nears 20d SMA tag just 4 points higher.. looking to short .. mind 50d /ES if overnight lows go with conviction..

SPX 5m fwiw.. messy chart.. 2434-33 key resistance

With this conclave of the planets financial rulers speaking we aren't going anywhere significant.

Weak from the Open: SMH, Lat Am, SLV, QQQ

Strong: Financials, energy, XRT

BIG TECH
15 days, percentages, 10 min

BIG TECH
%
daily, since the election

morning hourly black bar.

get ready.. TLT nears 20d SMA.. looking for SPX 20d tag.. COMPQ holds 50d SMA.. NDX just sick… get ready..

fehro wrote:

fehro wrote:SPX looses 2417, look to gap fill 2412-14.. then 50d 2405ish, then2387 /ES nears 20d SMA tag just 4 points higher.. looking to short .. mind 50d /ES if overnight lows go with conviction..

SPX 5m fwiw.. messy chart.. 2434-33 key resistance

dabble short 2433.25

ES 2425.50 is the clear support that must break for bear move this morning, as both the London/Frankfurt and NY market have bounced off that level.

35 minutes of Q & A is starting.