Cobra's Market View

Still watching...

Semi's haven't found a bottom yet.... down 12.75%...

So we know that 50 plus Saudi prices are locked up and we know that at least one has paid off the Kingdom to the tune of 1 billion dollars to get out. Is that what is going on? Are Saudi prices liquidating to get out of the Ritz?

AAPL: that's a potential double bottom ... or not
daily

Looking at a daily chart the Semi's are almost down to their 50 DMA. Will it hold the fall??

Looks like the lower MA line is providing some support as it did yesterday......

Gone to lunch, time for the market to rally!! LOL!

OK I found the more sophisticated language for what is going on (thank you Stock Board Assets )
A high time frame investor is liquidating tech assets. The event happened to coincide with Chair Yellen's testimony.

Update AAPL daily
AAPL is no stranger to pullbacks.
Note (orange lines) in june and september, healthy pullbacks in excess of -9%, ouch.
If that repeats, it could take apple to the 160 zone, and that’s a big “IF”.
And what did SPY do in june and sept (not shown here)….. yeah, no problem.
Today there is rotation into trans and banks and others… is that enough?

That price-weighted dow up 59 points
That’s some bullshite right there
Almost ALL the up is due to UNH

Trades with cats wrote:OK I found the more sophisticated language for what is going on (thank you Stock Board Assets )
A high time frame investor is liquidating tech assets. The event happened to coincide with Chair Yellen's testimony.

What is a ‘high time frame’?

Once the weekly chart bottoms out on labu it should be a buy,getting close

te_fern wrote:Looking at a daily chart the Semi's are almost down to their 50 DMA. Will it hold the fall??

That daily chart pointing straight down would wait a few days until the smoke clears before a move is taken

prefect storm setting up... BTC, gold, oil, indexes, bonds "could" all drop very hard based on charts..and dollar explodes up... fwiw

High time frame as in higher time frame as in long term investor trading weekly and monthly charts. A Warren Buffet.

Looks like the overnight lows 2623 ES are defining a support zone or shoulder level on an inverted head and shoulder in the ES. VWAP sitting at 2627 really needs to be broken to the upside if this thing is going to recover today. Again, all that retirement cash, better known as the dumb money coming in on autopilot Friday to mostly the ETFs.

Pasta Boss, Thanks to you I looked at UNH. Sure looks like hedge fund bate. Taking their pile of cash from Obama care and funding jargon rich tech start-ups that will revolutionize health care.

I have a son in law who is a well published PhD in computational biology (big data DNA analysis). Last time he was looking he interviewed with a couple of those medical data start-ups. Always got down to the same thing, a guy who had cashed out a startup and was looking for the next big thing. Lots of jargon and slogans, zero results and no real products. Not saying UNH will be funding that type, but I am saying there are a lot of tech hustlers out there in the medical field these days.

Trades with cats wrote:Pasta Boss, Thanks to you I looked at UNH. Sure looks like hedge fund bate. Taking their pile of cash from Obama care and funding jargon rich tech start-ups that will revolutionize health care.

I have a son in law who is a well published PhD in computational biology (big data DNA analysis). Last time he was looking he interviewed with a couple of those medical data start-ups. Always got down to the same thing, a guy who had cashed out a startup and was looking for the next big thing. Lots of jargon and slogans, zero results and no real products. Not saying UNH will be funding that type, but I am saying there are a lot of tech hustlers out there in the medical field these days.

ELSEWHERE: bossman, this is chilling to the bone:
The Wall Street Journal reported a technical error at Fidelity Investments on Wednesday [this morning] blocked millions of customers from their online brokerage accounts [for TWO HOURS].
Attempts to log in were met with an error message reading: “Due to a technical error, the system is temporarily unavailable.”
A spokesperson said that the company is working to resolve an “internal tech issue” affecting all users of the firm’s website and mobile app.
Fidelity is among the largest U.S. online brokerage firms. Its personal investing business had $1.72 trillion in client assets under administration at the end of 2016 and 17.9 million accounts, according to the firm’s most recent annual report.
zh opines: “And the removal of these retail accounts means institutions have no one to dump to... and so this happens...” [fang, sox, etc., crash]
[Pasta here: Moral of that story: get your "protection" on]