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double top or not, wait and see. roller coaster show at 2 pm so might no big moves before the show.

members only update starts here: http://www.cobrasmarketview.com/2017/07 ... ay-update/

GM

FOMC = be out, don't want surprises (flash crash etc)
News: Tomorrow...
https://www.theguardian.com/world/2017/ ... s-pentagon

morning hourly black bar.

TRANsports not happy

TRIN very warm this morning.. careful .. mind the 2:00pm ET FOMC interest rate decision.. for possible fireworks.. mind the USdollar.. DXY over 94.35 could see a fast move up to 95ish.. /GC looks weak

Shorts Dax Reopen has to be...

Complete FOMC analysis to paralysis, Detailed odds and comments from all the major banks
Bottom line, everybody expects the most insignificant announcement of the year.
http://www.zerohedge.com/news/2017-07-2 ... -statement

Trades with cats wrote:Complete FOMC analysis to paralysis, Detailed odds and comments from all the major banks
Bottom line, everybody expects the most insignificant announcement of the year.
http://www.zerohedge.com/news/2017-07-2 ... -statement

really ? that is something new... , but these time I agree with that site

energy-http://finviz.com/futures_charts.ashx?t=ENERGY&p=m5
DOE inventory confirmed API major draw. Fundamentals are aligned for more of this into August.
1. US refiners are running at record levels moving significantly more crude than last year and exporting it. So they have moved beyond the constraints of US demand.
2. It is the hot season in the middle east, their populations have increased significantly as has the amount of air conditioning. They burn crude oil to power their generators. They flat out do not have it to ship at this point in the annual weather cycle.
3. Venezuela
4. Hurricanes in the Gulf of Mexico- Can shut down the LOOP or Huston as well as shut ins on platforms. If tankers are stopped in both directions for a day or two who knows what the weekly numbers will look like.

BUT- at what price point do the shale drillers start flooding the market? According to popular media they have not sold enough 2018 to cover their bank payments so you know they are under pressure from the Dallas Fed to do so.

fehro wrote:TRIN very warm this morning.. careful .. mind the 2:00pm ET FOMC interest rate decision.. for possible fireworks.. mind the USdollar.. DXY over 94.35 could see a fast move up to 95ish.. /GC looks weak

Put/Call at extremes... 0.61/0.57 equites..

from John Kemp

the dow and its heavyweights
(BA is up 8.5%)

AAPL - http://www.reuters.com/article/us-apple ... SKBN1AB258

(Reuters) - Apple Inc (AAPL.O) supplier Foxconn Technology Co (2354.TW) will announce plans to build a multi-billion dollar electronics manufacturing plant in Wisconsin at a White House event later on Wednesday, a source briefed on the matter said.

A White House official said President Donald Trump is hosting an event at 5 p.m. EDT with Foxconn "for a technology manufacturing initiative announcement that will bring jobs and billions of dollars in investments to our country."

Foxconn said last month it plans to invest more than $10 billion in a display-making factory in the United States.

Today AMZN market cap just surpassed $500B
[CNBC Fast Money]

Fireworks levels for FOMC fwiw SPX 60m/5m

be soo careful on the dollar and gold - http://www.zerohedge.com/news/2017-07-2 ... llar-rally

FED HOUR within minutes