Page 1 of 3

11/16/2017 Live Update

Posted: Thu Nov 16, 2017 10:25 am
by Cobra
If you're StockCharts member, please do me a little favor by "vote" and the most importantly "follow" my public chart list HERE. You need "follow" only once but vote can be done everyday, so whenever you have time, please vote for me, thanks! If you're not StockCharts member, you can also help boosting my rank by clicking the link once everyday.
  • Please, again, all my calls in the daily live update is for intra-day only, they're absolutely invalid when the closing bell rings. If you're interested in the forecast for days and weeks, Please subscribe my Daily Market Report.
  • Personal attack on any board members won't be tolerated. Please limit your topic to trade related only.
  • Please no direct link to your personal web site or blog. You must post rich contents here. You can, however, put link to your personal web site or blog as your signature.
  • I'm very busy during the trading hour, so your question posted on board might not be answered. For a guaranteed answer to your question please send email to info@cobrasmarketview.com.
=============================================================================================================================================================================

the rebound may have small legs at least.

Re: 11/16/2017 Live Update

Posted: Thu Nov 16, 2017 10:28 am
by Cobra

Re: 11/16/2017 Live Update

Posted: Thu Nov 16, 2017 10:29 am
by Daniel
Al Dente has recently been highlighting the multi-week woes of the junk bonds.

I've just seen a graphic of the longterm correlation between the ratio of corporate net debt to cashflow (Debt/Cashflow) and high yield bond rates over the years. In every case peaks and troughs matched. Yet this time, the ratio has been rising for months... while, until recently, JNK and HYG had been hovering near highs and their yields near lows.

Perhaps this divergence has begun to unwind, with the correlation now slowly being restored..?

Stocks have shown no signs of a persistent Risk Off mentality--rather, a buy the dip mentality has persisted. So it’s not simply a matter of junk bonds being caught up in a general risk-off rotation.

The ratios of JNK:TLT and JNK:LQD are both near 6-month lows. Rather than being the strongest sub-sector in bondland, HiYield corporate bonds are becoming the weakest.

Re: 11/16/2017 Live Update

Posted: Thu Nov 16, 2017 10:37 am
by Al_Dente
note dow stocks
WMT
CSCO

Re: 11/16/2017 Live Update

Posted: Thu Nov 16, 2017 10:40 am
by Al_Dente
by my calculation, those two stocks together represent roughly 50 points of the dow's advance

Re: 11/16/2017 Live Update

Posted: Thu Nov 16, 2017 10:42 am
by Daniel
GLD, XLP, IWM, biotechs, homebuilders hod

XLB, Latin America, VXN lod

No obvious correlations there...

Re: 11/16/2017 Live Update

Posted: Thu Nov 16, 2017 10:42 am
by Trades with cats
ES 12-17 (1000 Tick) 2017_11_16.png
Wow, a continuation of the overnight move (2x normal volume) to 2577.50 was expected, but not right out of the opening swing. And where are all the short covering triggers at that level? Well clearly not there after all so down we go. Could be another day full of the unexpected.

Re: 11/16/2017 Live Update

Posted: Thu Nov 16, 2017 10:53 am
by te_fern
In the middle of the box, which way now!! As TWC said, expect the unexpected today.....

Re: 11/16/2017 Live Update

Posted: Thu Nov 16, 2017 10:59 am
by Daniel
Today, JNK is up a robust 1/2 of 1% on moderately heavy volume.

Naz, IWM, MDY hod. SPY is being held back by its energy component.

Re: 11/16/2017 Live Update

Posted: Thu Nov 16, 2017 11:01 am
by te_fern
Can levered smalls sustain the breakout?

Re: 11/16/2017 Live Update

Posted: Thu Nov 16, 2017 11:02 am
by fehro
SPX INDU both stall at 20d SMA dabble short SPX

Re: 11/16/2017 Live Update

Posted: Thu Nov 16, 2017 11:06 am
by Trades with cats
Trading plan for next year is out at the evil site, Goldman's top 10 trades for 2018. If you recall they will be keeping stats for fading Goldman's recommendations. :twisted:

Re: 11/16/2017 Live Update

Posted: Thu Nov 16, 2017 11:07 am
by Cobra

Re: 11/16/2017 Live Update

Posted: Thu Nov 16, 2017 11:07 am
by Trades with cats
Ah there's the breakout and the short covering pop.

Re: 11/16/2017 Live Update

Posted: Thu Nov 16, 2017 11:10 am
by Daniel
XLY sniffing at a fresh 52-week high.

However, just now, XLF, KRE, and EWG hitting lod...

Re: 11/16/2017 Live Update

Posted: Thu Nov 16, 2017 11:23 am
by Trades with cats
ES 12-17 (1000 Tick) 2017_11_16 B.png
I show the overnight to give context to the many twitter posts about the large cash injections of the PBoC. You can easily see that the London/Frankfurt crowd did not advance the market. Of course the New York crowd has moved it on up.
FuturesTrader71 makes note of the overnight volume when it is unusual so I do credit his free morning talk for the 2x normal today and the 3x normal yesterday.

Re: 11/16/2017 Live Update

Posted: Thu Nov 16, 2017 11:24 am
by te_fern
Yep, looks like a risk on morning. Let me buy something and I can end it! LOL!!

Re: 11/16/2017 Live Update

Posted: Thu Nov 16, 2017 11:25 am
by Cobra
this bull may have legs.

Re: 11/16/2017 Live Update

Posted: Thu Nov 16, 2017 11:28 am
by Daniel
SMH, XLY, XRT and multiple other sectors hitting hod here.

Re: 11/16/2017 Live Update

Posted: Thu Nov 16, 2017 11:44 am
by te_fern
TICKs steady going higher.....