12/01/2017 Live Update

[Cobra]

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lower high or not, wait and see.

[Cobra]

members only update starts here: http://www.cobrasmarketview.com/2017/12 ... ay-update/

[Al_Dente]

note USO on open

[Daniel]

USO up 2%; XOP likewise. Broader XLE up only 1%.

[Al_Dente]

Yesterday $TRAN was > 3 standard deviations above its 50ma
That’s rare and excessive, and it hasn’t happened since the post-election run-up (red boxes) last year
Bottom panel: XLF is also > 3 std dev above 50ma
Both are ripe for mean-reversion, but the news will rule the day(s)
Daily, as of yesterday’s close

[Daniel]

SMH, XRT both down nearly 1%

[te_fern]

Pasta Boss, meant to tell you that I pick up another year plus 3 free months from stockcharts, but I don't think the data feeds were on sale. Does look like you can toggle them on and off which is good for traveling etc. Thanks for the reminder!

[Daniel]

Dow Transports are basically flat on the day. RVX and VXN are surging, as SPY and IWM hit a minor lod...

[johnnywa]

2 days ago i said let dust settle before playing soxl and still has more down coming.Also said labu gonna blastoff,check them out

[te_fern]

TICK is beginning its day south of the MA line. We can monitor today for a change in direction....

[Daniel]

2 days ago i said let dust settle before playing soxl and still has more coming

SMH (semis) hitting fresh 20day low here-- under $99!

[Daniel]

If UUP can close above 24.30 it will reverse a persistent pattern of lower highs/lows. Today's high was 24.25.

It's always useful to track the dollar index and its proxies.

[Daniel]

QQQ showing significant RS over IWM, since the open. XOP closing in on a 3% gain, w XLE about half that.

[Trades with cats]

Before Thanksgiving Amazon had a 30% off sale on Nvidia Tesla chips, which I was ignorant of (the chips) as I don't buy $5,000 processors when I build myself a new computer. My son in law who does big data told me they don't use them for personal supercomputers they really use them for bitcoin mining. Was that the tell for SOX?

[Trades with cats]

Small caps diverging to the down side.

[Daniel]

SMH loss today approached -2% at the low. Other weak sectors: KRE, XBD

[te_fern]

As already noted by others, SOXL is still making new ST lows....

[Cobra]

members only update at 10:00 am
http://www.cobrasmarketview.com/2017/12 ... ay-update/

[Cobra]

sharp rebound here then it'd be higher low, the pullback was over. key time.

[Daniel]

Small caps diverging to the down side.

Indeed... but now at a very dangerous spot for bears. IWM has just filled the UP gap from Wednesday, at an obvious potential support level. If the dollar rallies that might be a tailwind.

RVX however has been spiking, so this technical support level may not hold. I'm not attracted from the bull side either.