Back to www.cobrasmarketview.com

08/29/2018 Live Update

User avatar
Cobra
Site Admin
Posts: 58344
Joined: Sat Feb 12, 2011 10:29 pm

08/29/2018 Live Update

Post by 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.
=============================================================================================================================================================================

in range, probably a range day today.
Attachments
ES60min.png

Like to read more of my commentaries? Please subscribe my Daily Market Report.
Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.
User avatar
Cobra
Site Admin
Posts: 58344
Joined: Sat Feb 12, 2011 10:29 pm

Re: 08/29/2018 Live Update

Post by Cobra »


Like to read more of my commentaries? Please subscribe my Daily Market Report.
Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.
Wallstreetrader
Posts: 975
Joined: Thu Mar 17, 2011 12:00 pm

Re: 08/29/2018 Live Update

Post by Wallstreetrader »

no...
Last edited by Wallstreetrader on Wed Aug 29, 2018 11:23 am, edited 5 times in total.
Trades with cats
Posts: 8656
Joined: Sat Oct 11, 2014 4:40 pm

Re: 08/29/2018 Live Update

Post by Trades with cats »

ES 09-18 (2000 Tick) 2018_08_29 (7_42_06 AM).png
Triple top makes me wonder if the market is going to test the pre-open lows before the Asian session (and overnight) highs since as you can see those Euro zone traders were all bear until the early New York traders started showing up.
User avatar
Cobra
Site Admin
Posts: 58344
Joined: Sat Feb 12, 2011 10:29 pm

Re: 08/29/2018 Live Update

Post by Cobra »


Like to read more of my commentaries? Please subscribe my Daily Market Report.
Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.
fehro
Posts: 22880
Joined: Fri Sep 02, 2011 2:06 pm

Re: 08/29/2018 Live Update

Post by fehro »

Small caps weak.. TRAN INDU red… VIX tight near HOD yHOD
Attachments
Screen Shot 2018-08-29 at 7.10.53 AM.png
Trades with cats
Posts: 8656
Joined: Sat Oct 11, 2014 4:40 pm

Re: 08/29/2018 Live Update

Post by Trades with cats »

DeMark signal.png
From Not Jim Cramer on twitter for what it is worth.
Trades with cats
Posts: 8656
Joined: Sat Oct 11, 2014 4:40 pm

Re: 08/29/2018 Live Update

Post by Trades with cats »

ES 09-18 (2000 Tick) 2018_08_29 (8_31_24 AM).png
Wow so after 6 or so hits on ES 2902.75 it got through. Someone clearly wants to test yesterday's high.
te_fern
Posts: 4017
Joined: Tue Nov 24, 2015 3:35 pm

Re: 08/29/2018 Live Update

Post by te_fern »

It looks to me that the big board is getting a little head of itself...
Attachments
Tick.PNG
This is not investment or trade advice.
te_fern
Posts: 4017
Joined: Tue Nov 24, 2015 3:35 pm

Re: 08/29/2018 Live Update

Post by te_fern »

Seems the VIX is moving a little higher this week versus last week....
Attachments
VIX.PNG
This is not investment or trade advice.
User avatar
Cobra
Site Admin
Posts: 58344
Joined: Sat Feb 12, 2011 10:29 pm

Re: 08/29/2018 Live Update

Post by Cobra »

the pullback likely will be bought. this bull shall have legs.
Attachments
1.png

Like to read more of my commentaries? Please subscribe my Daily Market Report.
Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.
Trades with cats
Posts: 8656
Joined: Sat Oct 11, 2014 4:40 pm

Re: 08/29/2018 Live Update

Post by Trades with cats »

Low volume, low economic news and new highs. Could it be Goldman's buy back desk using up the current month's cash (if that is how it is allocated) to set up certain month end bench marks tied to executive stock compensation. Admittedly with the revised GDP numbers and Powells Jackson Hole comments and expected earnings it is all positive but I would have been going long after Powell, not after a revised GDP that went from very good to even better. :geek:
User avatar
Al_Dente
Posts: 28535
Joined: Thu Jul 21, 2011 2:29 pm

Re: 08/29/2018 Live Update

Post by Al_Dente »

YESTERDAY
WORTH READING
"...we now have a US equity market that, to a trader’s eye at least, is essentially "unshortable" ...
https://www.zerohedge.com/news/2018-08- ... teve-cohen
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
Trades with cats
Posts: 8656
Joined: Sat Oct 11, 2014 4:40 pm

Re: 08/29/2018 Live Update

Post by Trades with cats »

Last night from Coolbiz.An elaboration on the call he made on August 15th (for new all time highs)
Sideways action in SPX for 10 points was consolidation a corrective Wave (iv) of [iii] action. After this a (v) of a Wave [iii] peak and a another Wave [iv] action and a Wave [v] of 5 of (5) of P[5] most likely to end near 2939-2950 (unless it extends higher,TBD)

1:12 PM - 28 Aug 2018
So I have to hand it to him, this action today certainly looks like a wave three up. But if he is correct that it is a 3 of a 5, well you know what follows a three. ;)
te_fern
Posts: 4017
Joined: Tue Nov 24, 2015 3:35 pm

Re: 08/29/2018 Live Update

Post by te_fern »

Al_Dente wrote:YESTERDAY
WORTH READING
"...we now have a US equity market that, to a trader’s eye at least, is essentially "unshortable" ...
https://www.zerohedge.com/news/2018-08- ... teve-cohen
Very interesting, thanks!
This is not investment or trade advice.
User avatar
Cobra
Site Admin
Posts: 58344
Joined: Sat Feb 12, 2011 10:29 pm

Re: 08/29/2018 Live Update

Post by Cobra »

the pullback will be bought again probably. surprisingly strong uptrend day.
Attachments
1.png

Like to read more of my commentaries? Please subscribe my Daily Market Report.
Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.
User avatar
Al_Dente
Posts: 28535
Joined: Thu Jul 21, 2011 2:29 pm

Re: 08/29/2018 Live Update

Post by Al_Dente »

te_fern wrote:Very interesting, thanks!
:D
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
User avatar
Cobra
Site Admin
Posts: 58344
Joined: Sat Feb 12, 2011 10:29 pm

Re: 08/29/2018 Live Update

Post by Cobra »


Like to read more of my commentaries? Please subscribe my Daily Market Report.
Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.
User avatar
Al_Dente
Posts: 28535
Joined: Thu Jul 21, 2011 2:29 pm

Re: 08/29/2018 Live Update

Post by Al_Dente »

All we need is another roughly 470 points up on the dow to have a dow ATH :shock: :roll: (last ATH was Jan 26).
That would make the “Dow Theorists” STFU.
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
Trades with cats
Posts: 8656
Joined: Sat Oct 11, 2014 4:40 pm

Re: 08/29/2018 Live Update

Post by Trades with cats »

Coolbiz calling it in from California (West Coast Time, 3 hours behind Eastern)
Wave [iii] is over at 2915.23 (or slightly higher yet?) If so expecting a pull back to 2898-2888 area by tomorrow for a Wave[iv], a sideways grind?.

9:40 AM - 29 Aug 2018
Post Reply