07/17/2018 Live Update

[te_fern]

Trying to grind higher....

[te_fern]

For now it looks like its in this channel....

[Trades with cats]

Broke through the sell orders around ES 2800 and popped up. New sell orders accumulating at 2807.

[Trades with cats]

I should add that the volume profile is dangerous. Those vertical patterns translate as no consensus on price and they have a nasty habit of reversing very quickly. Just say'en.

[fehro]

fomo rally.. look at those candles..

[Trades with cats]

July 6th was the only recent day that looks close to this on the 15 minute and it wasn't nearly as perfect with lots of tails. I guess I missed the positive news that has caused this totally organic groundswell of economic optimism.

[Trades with cats]

What gets me is that they have the arrogance to be so in our face with this stuff.

Back before the internet took over I read Forbes and the Wall Street Journal. I do remember a piece in Forbes where they documented how the cheaters and short cutters tend to do better than others for a while but something always eventually goes wrong. We certainly have seen things go wrong for our beloved central planners before and there is no doubt in my mind that it will happen again.

[Trades with cats]

The last couple of points the buyers had to open their wallets according to relative volume. Pretty easy to see where the elevators and pauses will be if this turns into a major reversal. It would also be one heck of a double top. Not saying it will happen, but this up move was clearly by someone with deep pockets on what should be a low volume day with low news levels and a reassuring background from Fed speaker Powell. But the second we get to where we were it starts flat lining with higher volume. And the 10% of the market in the Eurozone is going home. Waiting for Fehro to say buckle up.

[Trades with cats]

ES 2807 biggest battle of the day.

[te_fern]

almost moved out of the channel, back in it for now....

[te_fern]

We could be headed up to the R2 pivot...

[Al_Dente]

Everything’s fine per FED
The hated Elizabeth Warren had a WONDERFUL comment, using suspenders as an analogy.
Can anyone please post her quote, or a paraphrase
Thank you in advance

[Trades with cats]

Closing in on the Tokyo High. Volume profile people call that a weak high, clearly market needs to trade in this area for a while to put a flag on that pole.

[Wallstreetrader]

my mistake

[Cobra]

members only update at 12:05 pm
http://www.cobrasmarketview.com/2018/07 ... ay-update/

[te_fern]

TICKs still positive, but now doing much.....

[Daniel]

NFLX fresh hod

[te_fern]

R2 pivot is still the target. Widened the channel a little....

[fehro]

time for a possible nibble short need to wait for a few candles yet

[Al_Dente]

potus will be interviewed on hannity tonight 9pm ET