Cobra's Market View

The institutional buying and selling chart from stocktiming shows more accumulation than distribution, so a few weeks of more accumulation and a few weeks of more distribution, to me it just argues a range market.

don't forget our weekly sentiment poll here: viewtopic.php?f=9&t=2521

No stock picks for the next week. Here's the latest strong stock count:
viewtopic.php?f=10&t=2523

This is the official calendar from House Majority Leader Kevin McCarthy.
The House of Representatives will only be in session for 147 days in 2017. They have 218 days off this year, including the entire month of August.

Historically, THE DOW and SEMICONDUCTORS and SMALL CAPS have been known as “leaders”.
Circles here just describe if they are currently above or below their bb centerlines 20ma Eventually, when the markets mean-revert, will these leaders lead down?
Just for fun, let’s see who signaled down first at the BIG TOP in October 2007
NO I am not suggesting a crash, quite the contrary, this is just a very selective study of the so-called “leaders” at a key time
As far as I can see, by the time the big top hit in October 2007, the following were already signaling DOWN,
all via negative divergences: XLF, $RUT, $SOX and maybe $TRAN
The dow $INDU and the nasdaq $COMPQ both made new highs
To repeat: the dow $INDU, the so-called “leader”, DID NOT LEAD DOWN, big mistake
Anyway, “this time will probably be different.”

heat map ONE WEEK PERFORMANCE
[edit: few days ago it was reported that Buffett was now BAC's biggest shareholder]

Art Hill’s seasonality table shows July August September odds
(I see anything slightly above/below 50% odds as “coin-toss” months)
http://stockcharts.com/articles/chartwa ... ummer.html

And here is the Bespoke view of seasonality. July is the thick red line [posted 6/30/17]
https://pbs.twimg.com/media/DDl1vWeXsAU_Yhk.jpg

Bespoke data favors bulls NEXT WEEK
“July 4th has typically been a positive week for equities, especially after a strong first half.”
https://pbs.twimg.com/media/DDlF6dYVoAANBUP.jpg

85.7% chance of S&P 500 gains on July 3
[Almanac]

Source: @MrTopStep https://mrtopstep.com/big-pharma-turns- ... igns-deal/

Big pharma turns to AI to speed drug discovery, GSK signs deal
Saturday, July 1, 2017 ReutersNews, stream

LONDON (Reuters) – The world’s leading drug companies are turning to artificial intelligence to improve the hit-and-miss business of finding new medicines,
with GlaxoSmithKline unveiling a new $43 million deal in the field on Sunday July 2, 2017.

Pasta Boss, near the end of Friday I noted the calculation for the dow. I don't know if you saw it..

te_fern wrote:Pasta Boss, near the end of Friday I noted the calculation for the dow. I don't know if you saw it..

got it, thanks boss