06/06/2018 Live Update

[Cobra]

If you're StockCharts member, please do me a little favor by "vote" and the most importantly "follow" my public chart list HERE. You need "follow" only once but vote can be done everyday, so whenever you have time, please vote for me, thanks! If you're not StockCharts member, you can also help boosting my rank by clicking the link once everyday.

• Please, again, all my calls in the daily live update is for intra-day only, they're absolutely invalid when the closing bell rings. If you're interested in the forecast for days and weeks, Please subscribe my Daily Market Report.

• Personal attack on any board members won't be tolerated. Please limit your topic to trade related only.

• Please no direct link to your personal web site or blog. You must post rich contents here. You can, however, put link to your personal web site or blog as your signature.

• I'm very busy during the trading hour, so your question posted on board might not be answered. For a guaranteed answer to your question please send email to info@cobrasmarketview.com.

=============================================================================================================================================================================

the pullback will be bought?

[Cobra]

members only update starts here: http://www.cobrasmarketview.com/2018/06 ... ay-update/

[fehro]

/ES mind the gap… SPX mind the diamond… opening at 2753ish mind the gaps

[Trades with cats]

Overnight heavy lifting was during the lower volume Asian session. Euro zone trading stuck in a 4 point range, we have already tested the bottom of it. Overnight high 2758.

FT71 commented that yesterday's volume was typical of deep summer trading, not June. Also of interest a new study at Convergent Trading says large trader tag goes to 30 or larger lot trades on the ES. Yesterday 30+ lot trades sold all day long, only buying the closing bar. Seems to me that could be a possible signal for a gap the next day.

[Trades with cats]

Looking for the third test of the morning low.

[fehro]

slipping.. to support.. could break.. not sure .. look to gap fill on the /ES mind SPX's gaps

[Trades with cats]

Settled for a scratch trade when I saw a long wicked doji bouncing on the new low. Came within a point of yesterday's close so I guess we now know where buyers live.

[Trades with cats]

Second push down got the job done.

[Trades with cats]

Volume coming in here at the overnight low. Dojis all over my fast chart.

[Cobra]

members only update at 10:02 am
http://www.cobrasmarketview.com/2018/06 ... ay-update/

[Cobra]

morning hourly filled black bar. implication on the top right of the chart itself.

[Cobra]

I'd compare with the pullback of yesterday.

[fehro]

SPX filling morning gap

[Wallstreetrader]

hard call here ...

[daytradingES]

EIA Petroleum Status Report
Released On 6/6/2018 10:30:00 AM For wk6/1, 2018
Prior Actual
Crude oil inventories (weekly change) -3.6 M barrels 2.1 M barrels
Gasoline (weekly change) 0.5 M barrels 4.6 M barrels
Distillates (weekly change) 0.6 M barrels 2.2 M barrels

[Al_Dente]

note OIL just now, big spike down
intraday

[Trades with cats]

I have seen a Ponzi play out. It was the 80's in a nearby small town. As a fact 90 % of the residents all belong to a certain Church which is based in Utah. They had nightly meetings like an old time traveling tent revival. Well covered by the local news, it went on for months bringing in people from several surrounding states.

If Eurozone government debt isn't a Ponzi by the ECB I don't know what is. Not saying US and Canada are pure as the driven snow but come on those rates are ridiculous and have zero relevance to the market rate. And Italy is not Japan! The cash to prop it up is all generated in the north. Still, with something like this you absolutely have to follow Lord Keynes advice on irrational markets and personal solvency.

[te_fern]

Pasta Boss has mentioned the drop in oil....

[Cobra]

mm down? so far direction not clear.

[Trades with cats]

Oil report was not close to what they were expecting. Should have been a draw down with a smaller build in gas.