Back to www.cobrasmarketview.com

   

08/05/2017 Weekend Update

08/05/2017 Weekend Update

Postby Cobra » Fri Aug 04, 2017 6:30 pm

Just to start a new thread for the weekend chat.

Please don't forget our weekly sentiment poll here: viewtopic.php?f=9&t=2561

Like to read more of my commentaries? Please subscribe my Daily Market Report.
Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.
User avatar
Cobra
Site Admin
 
Posts: 38239
Joined: Sat Feb 12, 2011 10:29 pm

Re: 08/05/2017 Weekend Update

Postby Cobra » Fri Aug 04, 2017 6:35 pm

Here's the latest strong stocks count.
viewtopic.php?f=10&t=2563

Like to read more of my commentaries? Please subscribe my Daily Market Report.
Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.
User avatar
Cobra
Site Admin
 
Posts: 38239
Joined: Sat Feb 12, 2011 10:29 pm

Re: 08/05/2017 Weekend Update

Postby Al_Dente » Sat Aug 05, 2017 12:12 pm

The BB52x extreme bolinger bands (390/2) on the 5min QQQ are compressing even tighter than they did on 27 July, before the explosion.
The bands are also crimped on $SPX (not shown here).
I see that as an ALERT that the current flatness won’t continue too much longer.

85bb on qqq.png.png
User avatar
Al_Dente
 
Posts: 18873
Joined: Thu Jul 21, 2011 2:29 pm

Re: 08/05/2017 Weekend Update

Postby Al_Dente » Sat Aug 05, 2017 1:35 pm

Regarding those 8 contiguous days of dow $INDU all-time-highs
Breathtaking
Sorry to bore you with more non-participation chatter, but ONLY FOUR OF THE THIRTY DOW STOCKS made new highs on Friday: AXP, TRV, UNH, V.
85dow new highs.png.png

[The above chart is from Carl Swenlin, who calls it “a persistent erosion of underlying support as expressed by 52-Week New Highs for the DJIA component stocks.”]
Needed is a re-alignment: either more new individual highs OR a lower dow.
There are a few other dow stocks that are “new-high adjacent,” and bulls are praying…
User avatar
Al_Dente
 
Posts: 18873
Joined: Thu Jul 21, 2011 2:29 pm

Re: 08/05/2017 Weekend Update

Postby daytradingES » Sat Aug 05, 2017 2:14 pm

I read an article this week at ZH by David Stockman.
He was speaking of Amazon and that it will become the poster child of the next crash.
----------
In another article, the author was speaking of volume and liquidity - I didn't quite follow it all. In any case my take-away was that the algos are programmed for normal conditions and when there is a large price movement they will just turn them off, (and 90%?) of the volume will disappear.

This sets up a free-fall situation where the FED comes in to buy the BIG dip.

Bottom line was he felt we no longer have real markets - rather machine algo gambling casinos.
Good trading to all
daytradingES
 
Posts: 1764
Joined: Thu Sep 13, 2012 10:46 am

Re: 08/05/2017 Weekend Update

Postby Trades with cats » Sun Aug 06, 2017 6:30 pm

https://youtu.be/IbeMSd46wZs?t=872
This is where Futures Trader 71 shows us non farm payroll with Tradebook software. You can see the algos turn off.
Bottom line the order book is a total joke because of the huge level of spoofing going on.

Especially for us futures traders, do keep in mind the trading colors where they shut the market down. Remember it did happen on election night. Did it come back, well yes of course, it has every time. But if you had a deep trailing stop, too bad.
Trades with cats
 
Posts: 4010
Joined: Sat Oct 11, 2014 4:40 pm


Return to Traders Lounge

Who is online

Users browsing this forum: Bing [Bot], Google Feedfetcher and 7 guests