Cobra's Market View

Not sure how customers will react to a $1200 iPhone?
According to the Bloomberg Billionaires Index, Morris Chang’s (founder and Chairman of Taiwan Semiconductor, TSM, the world’s largest contract chipmaker), personal fortune is now $1 billion. The shares surged 27 percent in the past year, on optimism for a revenue boost from the upcoming iPhone release…
https://www.bloomberg.com/news/articles ... ne-outlook

x 24 of moth , new society habits

Usury Visa (V) is about .14 cents away from a new ATH
“Visa Inc. has a new offer for small merchants: take thousands of dollars from the card giant to upgrade their payment technology. In return, the businesses must stop accepting cash.
The company unveiled the initiative on Wednesday as part of a broader effort to steer Americans away from using old-fashioned paper money. Visa says it is planning to give $10,000 apiece to up to 50 restaurants and food vendors to pay for their technology and marketing costs, as long as the businesses pledge to start what Visa executive Jack Forestell calls a “journey to cashless”.”
[WSJ via zh]
http://www.zerohedge.com/news/2017-07-1 ... aking-cash

AAPL up >1%, near its HOD. SMH hanging in the middle of its recent multi-day range.

GDX, daily
bounce indeed, but weak, and now failing at centerline resistance 20ma
[ps: where's the selling volume ??]

Last ES short signal was just before the Chair looked at Fehro's charts. Three hours later I have another one, but not too sure about it yet as price is still a point above VWAP, so I expect at least a bounce on VWAP, as that is the usual pattern.

As I have made clear I have no respect for Lariel Branard after her blatant attempt to be first on President Clinton's Fed Chair list. So yes this is just confirming my bias, but set that aside and just look at the total arrogance of the statement, she must actually think we are that stupid.

BRAINARD: DON'T EXPLICITLY COORDINATE WITH OTHER CENTRAL BANKS: BBG

QQQ s drop.. IWM climbs .. keep the grind alive

Small caps creeping. Will they make it to green before the close?

ES at VWAP and the smalls have dropped back into the gap, for now.

No now they are both dropping

Let's see if can get more downside from here

HAPPY HOUR

False alarm ...

bias still is up, breakout likely.

well, guess that's it for today. Friday tomorrow has been bull friendly recently. thank you guys, I'll see you tomorrow.

before the close, please take a little time to vote for me, thanks. https://stockcharts.com/public/1684859/tenpp