05/31/2018 Live Update

[Cobra]

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double top or not, wait and see.

[Cobra]

members only update starts here: http://www.cobrasmarketview.com/2018/05 ... ay-update/

[fehro]

SPX /ES .. mind SPX gap.. mind gold today… USdollar…. Spain non confidence vote tomorrow… "could" see a huge move on the dollar up.. careful.. gold on the edge of a cliff

[Cobra]

the open. no comments. need the market goes a few bars to know its intention.

my guess is range day but I won't be surprised (and even happy) it goes down down down given all the uncertainties blah blah by media.

[Wallstreetrader]

BASQUE PARTY TO VOTE AGAINST PRIME MINISTER IN NO-CONFIDENCE MOTION, MAKING ALMOST CERTAIN HE WILL HAVE TO STEP DOWN - MEDIA

BASQUES CONFIRMS THEY WILL BACK MOTION AGAINST RAJOY: SER

Rajoy is gone

?

[nikman]

Cobra, if it is a range day today with a sub 2700 on the low end, how do you see the current uncertainties resolving... down down for few days before an all-clear move up to ATH? Thanks!

Sent from my SM-G955U using Tapatalk

[fehro]

SPX in between.. mind the morning gap.. lower support.. Qs push SPY red

[Daniel]

EWP (Spain) hod. Down only 1/3 of 1% today, inside bar so far on the daily chart.

Much of the news already factored in?

[Daniel]

Strong outperf by QQQ today. IWM flat, SPY weaker--held back by weakness in financials.

XLF down -0.7%

[fehro]

mixed bag so far…but bonds and VIXes push up.. INDU SPX weak

[Daniel]

QQQ pushing, pushing... about to break to new HOD. SPY rejecting the OR-30 low.

Broad based buying here, breadth improving across the spectrum of equities.

[Daniel]

Strong outperf by QQQ today. IWM flat, SPY weaker--held back by weakness in financials. XLF down -0.7%

GS and JPM both at lod, down > -1.5%

[fehro]

mixed bag so far…but bonds and VIXes push up.. INDU SPX weak

buckle up mind yGAP

[fehro]

mixed bag so far…but bonds and VIXes push up.. INDU SPX weak

buckle up mind yGAP

SPX holding on for dear life.. sloppy little H&S SPY 5m from y .. "IF" it plays out yGAP will fill .. if not support holds red line SPX upper gap fills

[Trades with cats]

2 minute bars. @ minutes is about the average day for the 2000 tick chart I follow.
I have added a Keltnere Channel centered on the 20 factor EMA. Note the gapless EMA in cyan. Red/Blue dash dot is VWAP.
Middle box is last 20 days relative volume, bottom box is bid ask delta.

Not sure if this set up tells a story or not but I am giving it an audition.

[fehro]

mixed bag so far…but bonds and VIXes push up.. INDU SPX weak

buckle up mind yGAP

come to papa .. support here.. need to loose yLODs for more down

[Trades with cats]

As usual the 60 minute opening range has been exceeded. Now we wait to see if it is exceeded on the top side sometime today. Shouldn't be a problem since Secretary Ross says the trade war with Eurozone will only hit 1% of our economy.

[Trades with cats]

5 minute bars version. It really shows the selling spike from a few minutes ago.

[Al_Dente]

big spike up
oil
last half hour

[Trades with cats]

Posted at Zerohedge. Once again API and the DOE (who use different methods) did not agree. A clear reason why tech analysis of the oil market is best left to the long term charts.
API

Crude +1.001mm (+450k exp)

Cushing -132k

Gasoline -1.682mm

Distillates +1.466mm - biggest build since Feb

DOE

Crude -3.62mm (+450k exp) - biggest draw since March

Cushing -556k

Gasoline +534k

Distillates +634k - biggest build since Feb