03/21/2018 Live Update

[Cobra]

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waiting for 2pm roller coaster show so no idea up or down from here.

[Cobra]

members only update starts here: http://www.cobrasmarketview.com/2018/03 ... ay-update/

[fehro]

/ES 15m .. triangle.. fwiw

[Daniel]

SPY lod. IWM continuing its recent short-term outperf. IWM resistance at 157, just above current price.

[te_fern]

TICK is settling down, will it continue lower or start to move higher??? We'll have to see..

[Cobra]

members only update at 10:00 am
http://www.cobrasmarketview.com/2018/03 ... ay-update/

[te_fern]

Gold ran up this morning, but is now starting to sell off.....

[ccash04]

Seems like SPY is ready to pop.

[Daniel]

Gold ran up this morning, but is now starting to sell off.....

SLV too is hitting its lod-- but is still up >1%

Meanwhile, QQQ filled its small down gap, and is stalled. IWM near its hod--but still struggling w that multiday resistance lvl of 157.

[te_fern]

the VIX is lower this morning, tried to run back up, but is falling again....

[te_fern]

Bios and Semis are up pretty strong, so the speculative sectors are doing ok....

[te_fern]

Bios...

[Trades with cats]

ES 2720 is the Point of Control for the entire selloff since February. So yes we are "stuck in the middle again" (Stealer's Wheel, 1973)

Ask and bid on ES is in the double digests as low as 15. I am used to seeing hundreds. RTY the small cap futures keeps dropping into the single digits on both bid and ask. Price bar is moving on one and two contract transactions.

Good trading to you all on Jay Powell's first press conference. I will be stuck on an airplane during the excitement. Looking forward to seeing the aftermath on Monday.

[te_fern]

Semis....

[fehro]

Mind SPX 20d 2735 possible spike test… put/calls at extreme 1.41 at tad too bearish.. DXY USDollar holds 20d/50d at LOD… /GC gold stalls at 20d SMA … oil/energy.. been holding markets up… does oil sell off an move to tech to keep markets up again?.. .. as the big boys keep selling? 20d/50d key

[Daniel]

Some guidance from the fine chaps over at Daily FX..

When Powell talks to the press, pay more attn to what he says about trade tariffs and such frictions than what he says about interest rates-- that info is already baked into swaps trades numbers.

[Daniel]

LQD (ca 115.75) today is hitting a fresh LOY (low of the year).
(Inv.Grade corp bond fund)

JNK and HYG are doing better (in the daily timeframe)-- but both have been below their hourly 200ema since late Feb.

[Daniel]

REIT ETFs are doing poorly today-- down btw 0.5 and 0.7% (IYR, VNQ, ICF)

[te_fern]

Both TICKs are above their moving average lines, can we get something going now???

[te_fern]

Levered smalls are pushing to the upside this morning....