05/11/2018 Live Update

[Al_Dente]

Smalls are turning down at critical resistance; it should try again
A breakout would be an ATH
[for reference: IWM old high was $160.25 from 1/24/18]
60min

Triple top?

at the moment, yes, but not confirmed
http://thepatternsite.com/tt.html

[fehro]

Smalls are turning down at critical resistance; it should try again
A breakout would be an ATH
[for reference: IWM old high was $160.25 from 1/24/18]
60min

Triple top?

at the moment, yes, but not confirmed
http://thepatternsite.com/tt.html

Triple Tops: Important Bull Market Results

Overall performance rank (1 is best): 7 out of 21
Break even failure rate: 10%
Average decline: 19%
Pullback rate: 61%
Percentage meeting price target: 40%

[fehro]

President Trump is expected to outline a "comprehensive" plan to tackle drug affordability in a major address on prescription drug prices at 2 p.m. today. In a Thursday night call with reporters, senior administration officials offered a preview of today's "American Patients First" blueprint, outlining their general strategies.

https://www.zerohedge.com/news/2018-05-11/heres-what-expect-trumps-2pm-speech-drug-prices

[Al_Dente]

almanac
before and after mother's day
http://jeffhirsch.tumblr.com/post/17379 ... others-day

[fehro]

SPX another possible blue H&S… weak bounce small RS….. lots of support near here red/green trends.. under them look out below look to the open gaps..

buckle up.. need VIXes to make nHODs

[Al_Dente]

...

[victorm]

looks like topping process, down we go next week...to 2640 on spx, gold still thinking what to do, still waiting for 1300 to load up. Marijuana stocks to explode on legalization in June - get on board guys. (look at VFF - send me kisses later)

[Al_Dente]

starts now
this link will also have the Sanders briefing afterwards
https://www.youtube.com/watch?v=4qLDHfLbFK4

[fehro]

nibble.. short.. probably 20min to early SPX 2729

grinds up with oils help AAPL red..VIXes start to roll over

SPX 2722 goes.. then may speed up down.. /CL nLOD

key time… IWM 5m 3 day H&S at neckline.. these levels crack.. look to yGAPs

SPX another possible blue H&S… weak bounce small RS….. lots of support near here red/green trends.. under them look out below look to the open gaps..

cover partial here.. + 11 SPX at daily pivot.. some support..VIXes need to go for more down

[Al_Dente]

NOT INTRADAY
Swing
This is 10 min, following all the higher lows (green boxes)
After 6 days of HL, I’m watching for a break on smalls …......
[edit: red horizontal lines are STOP if it breaks the previous HL]

update

[victorm]

starts now
this link will also have the Sanders briefing afterwards
https://www.youtube.com/watch?v=4qLDHfLbFK4

so, pharmaceuticals should be down. LABU jumped though...

[Al_Dente]

starts now
this link will also have the Sanders briefing afterwards
https://www.youtube.com/watch?v=4qLDHfLbFK4

so, pharmaceuticals should be down. LABU jumped though...

and XLV jumped at 2pm

[fehro]

bit sloppy here.. it's Friday.. VIXes roll over press LODs..possible white H&S .. bounce higher.. LOD goes again.. still mind the lower gaps

[Cobra]

maybe the low was in for today. it's just a higher low test then rebound to close.

[Al_Dente]

HAPPY HOUR

[Al_Dente]

WEEK AT A GLANCE (before the close)
Red line is XLF, financials, best on the week here
u can c health XLV (orange) bounce at 2:00 today, oy

[100sma]

Hi Cobra,

Today’s market is choppy. I think the pullback is due on Monday or Tuesday. What do you think?

[Cobra]

Hi Cobra,

Today’s market is choppy. I think the pullback is due on Monday or Tuesday. What do you think?

agree. but I don't expect big pullback.

[Trades with cats]

Back to VWAP with half hour to go, haven't seen that for several days.

[Cobra]

members only update at 3:50 pm
http://www.cobrasmarketview.com/2018/05 ... ay-update/