Cobra's Market View

back to hold days, slow slow litle slow slow litle up .........
but still in(sh)
monkeys no thank you...

fehro wrote:20d in range.. TRANSports NDX.. SPX has more room..

NDX tags 20d SPX almost there.. 3 points now

Wallstreetrader wrote:yep here bears game over imo...

don't shoot till you see the white of their eyes

fehro wrote:

Wallstreetrader wrote:yep here bears game over imo...

don't shoot till you see the white of their eyes

20d zoo close 2470ish, upper gap 2474.. nibble a sm pos.. here short.. 2465.25 . early

Looking like we have run out of buyers. Momentum turning neutral (ES) or bearish (TF).

/CL struggling… stalls near 50w SMA .. may add pressure to indexes.. as bonds nHOD .. VIXes curling up

fehro wrote:/CL struggling… stalls near 50w SMA .. may add pressure to indexes.. as bonds nHOD .. VIXes curling up

/CL nears 20d SMA near LOD, 47.75 crucial.. it goes.. /CL could fall off a cliff. 10 week uptrend.. horiz support daily.. look to 50d 46.50ish

CL- John Kemp out with his consolidated net positions of Hedge Funds today. They are getting longer. Not a good sign for bulls as the Hedge Funds have been wrong twice this year already.
Claim this weekend that PDVSA was shopping Canadian Syncrude for it's gulf coast refineries as with reduced production they can longer supply their US refineries and pay their Chinese loans.

Heat map looks different today
Usually on the way up the heat map is red green, with rotation out of X and into Y
Today almost everything is green… at the moment…
http://finviz.com/map.ashx

Small caps just got a second wind. Price action is up in short bursts followed by flats, not looking organic.

fehro wrote:

fehro wrote:/CL struggling… stalls near 50w SMA .. may add pressure to indexes.. as bonds nHOD .. VIXes curling up

/CL nears 20d SMA near LOD, 47.75 crucial.. it goes.. /CL could fall off a cliff. 10 week uptrend.. horiz support daily.. look to 50d 46.50ish

/CL <20d/200d /CL nLOD 20w SMA next 47.94ish

bias is up.

fehro wrote:

fehro wrote:

Wallstreetrader wrote:yep here bears game over imo...

don't shoot till you see the white of their eyes

20d zoo close 2470ish, upper gap 2474.. nibble a sm pos.. here short.. 2465.25 . early

add short 2464.50

fehro wrote:

fehro wrote:

fehro wrote:/CL struggling… stalls near 50w SMA .. may add pressure to indexes.. as bonds nHOD .. VIXes curling up

/CL nears 20d SMA near LOD, 47.75 crucial.. it goes.. /CL could fall off a cliff. 10 week uptrend.. horiz support daily.. look to 50d 46.50ish

/CL <20d/200d /CL nLOD 20w SMA next 47.94ish

ding ding .. 20w tagged.. and slipping.. key time 47.75ish range.. it goes. .look out below!!

10 days, 5 min, %

NY internals are backing off just a bit
But NYAD (not on this chart) at 1778 is still a big bull number

Cya tomorrow, these market is booted

JPM
Short-term bearish: "we have been very bullish on equities in 1H, but think they will be consolidating during the second half of the year… We believe a continued weakening in USD will keep helping EM & commodities (OW) and any rise in Bund yields will help Eurozone Banks (OW), but we think broader equity markets are likely to continue consolidating…. US growth momentum is mixed, with a rollover in manufacturing, credit, housing and car sales…. Equity multiples are in outright expensive territory…. Aug-Sep seasonals were typically weak…”
[EM = emerging market; OW = overweight]

He also outlines a longer-term bullish scenario here…
http://www.zerohedge.com/news/2017-08-1 ... ell-stocks

Jackson Hole conference is Aug 24th through 26th. It is widely expected that Super Mario will make a policy statement as this is the first time he has gone in three years.
I think we are getting some carefully orchestrated hints today about what to expect. New York Fed Chair Dudley is being very very vocal about the balance sheet runoff. Is anybody brave enough to bet against foreign central bankers NOT making coordination noises at Jackson Hole? After the English conference last month you know it is coming like a Hollywood sequel. Because they really don't want a sequel to Sors verses the Bank of England