11/02/2017 Live Update

[Daniel]

Generational tax reform is intro'd, and ATR on SPY continues to contract unto the minuscule? This is unfathomable to me.

Look at Cobra's base SPY 5min chart-- we're back to 5cent and 10cent proportional gradations on the grids. For a security costing $250+ a share.

Aside from some sector gyrations the market is yawning. This market left me at the bakery, months ago.

Tax reform is MAJOR, the indexes should either sell the news, or jump for joy. They should not yawn.

[fehro]

be UBER careful on IWM.. potential for a shocking down move is high.. 148ish goes.. look to 147.50 .. key level 147.25 we close flat, near there.. huge gap down potential.. break it today.. look for waterfall to 144 previous highs.. open gap 145.25-144.70ish buy IWM P lottos OTM expiration tomorrow

[johnnywa]

be UBER careful on IWM.. potential for a shocking down move is high.. 148ish goes.. look to 147.50 .. key level 147.25 we close flat, near there.. huge gap down potential.. break it today.. look for waterfall to 144 previous highs.. open gap 145.25-144.70ish buy IWM P lottos OTM expiration tomorrow

What are you basing your iwm call on?

[Al_Dente]

be UBER careful on IWM.. potential for a shocking down move is high.. 148ish goes.. look to 147.50 .. key level 147.25 we close flat, near there.. huge gap down potential.. break it today.. look for waterfall to 144 previous highs.. open gap 145.25-144.70ish buy IWM P lottos OTM expiration tomorrow

Thanks boss
IWM: I’ve got a megaphone tilted up (Ascending Broadening Wedge), inside the box
Breaks “downward 73% of the time”
http://thepatternsite.com/abw.html
15min

[Cobra]

should be another push up.

[Al_Dente]

WEAK
NY advancing stocks = 0.88 x declining stocks
NY advancing volume = 0.71 x declining volume

[Al_Dente]

After the close: AAPL, SBUX

[fehro]

3:00pm ET - Fed chair.. buckle up

[Cobra]

double top or double bottom, key time.

[Al_Dente]

early HAPPY HOUR

[Al_Dente]

POWELL

[Cobra]

breakout likely.

[Cobra]

members only update at 3:50 pm
http://www.cobrasmarketview.com/2017/11 ... ay-update/

[Cobra]

well, guess that's it for today. Friday tomorrow has been overwhelmingly bull friendly. 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

[Daniel]

Well, if the Market is going to yawn at an unveiled Tax Plan, and the selection of a new Fed chairman, I'll yawn too. Yawn.
glta