07/20/2018 Live Update

[Cobra]

maybe it was the range high, just maybe.

[Cobra]

members only update at 11:56 am
http://www.cobrasmarketview.com/2018/07 ... ay-update/

[te_fern]

Had a small bounce off the channel and now has fallen thru. Maybe starting Cobra's range day....

[Trades with cats]

9:30 in my zone GMT-7 is when euro zone goes home. So once again they have reversed the overnight ugly.

[Trades with cats]

te-fern, Not only did it fall out it also had the poor manners of not giving a proper pull back for a decent short entry. I really don't like just jumping in without a pull back.

[Trades with cats]

text book, bounce on VWAP with a burst of trading (circles on pice bars) and back to the EMA. Kiss good by or on to reclaim the weeks high? My indicators say Sit On Hands for now.

[Trades with cats]

Like to add note how the limit buy orders moved up with VWAP. Looks like elephant sign to this novice tracker.

[te_fern]

TWC, just saw your sitting on the hands post! LOL! Me too after yesterday!

[te_fern]

Since I don't have any day trading positions on maybe the Pasta Boss will let me go to lunch!! LOL!

[Al_Dente]

Since I don't have any day trading positions on maybe the Pasta Boss will let me go to lunch!! LOL!

OFF TOPIC:
AGGRESSIVE SECTORS
PERCENT OF STOCKS ABOVE 20ma (EOD)
As long as you have more than 50% of your sector above 20ma, you’re okay for now, short term (not intraday)
Third panel: Note that although only five top-tech stocks have been powering the market, 76% Percent of XLK (about 76 stocks) are above their 20ma
For medium term, choose PERCENT OF STOCKS ABOVE 50ma

[Clueless]

Watch for the market to drop the last 2 hours of the day. I don't believe it be a quiet close with the Trump-China tariff drama from this morning hanging in the air. Unless he has been put on ignore.

[Cobra]

double bottom so may test the range high from here?

[Al_Dente]

As SPX moves nearer its all-time-high, take a look at it from the point of view of new 52-week highs
PERCENT OF STOCKS MAKING 52-WEEK NEW HIGHS (HLP, EOD)
Last night 4.4% of the SPX stocks made new highs, and 3% of the NDX (QQQ) hit highs
Paraphrasing dear Rosie, 7/18: Hallmark of a topping market. When the SPX pierced 2,800 in January, the percent of new highs had already exceeded 20%. In this latest go-around, that share is barely 5% = bad.

[Al_Dente]

Today MSFT hit 3-standard-deviations above its 50ma, on good earnings report
That’s extreme
None of the other top-techs are near that overcooked level

[Trades with cats]

IS MST taking market share away from Amazon? (in cloud space computing) Or are they increasing their buybacks big time?

[Trades with cats]

Big support around the opening print line. Darn bounce for a short was all dragon fly dojis so it scared Fumar my cat.

[Al_Dente]

[te_fern]

big board TICK has gone negative.....

[rpccharts]

$CLF Cleveland Cliffs up 14% on Blowout EPS - we bot this back in 6s posted here
Cleveland-Cliffs’ adjusted earnings were 76 cents per share for the second quarter, which comfortably surpassed the Zacks Consensus Estimate of 56 cents.

[rpccharts]

NASDAQ Components in a Picture - Be Careful