09/10/2018 Live Update

[Cobra]

maybe the low was in for today.

[Daniel]

J.C. Parets (All-Star Charts) sets out some 'lines in the sand'..

The evidence continues to point to an environment where stocks are being accumulated, breadth is expanding, and sector rotation rules. My conclusion is simply this: there are more stocks that I want to be buying than stocks I want to be selling. And this is by an overwhelming amount. It’s not even close.

Small-caps and Mid-caps have been the leaders. As bulls, we want to see that remain the case. So if we’re below 170 in IWM, a more neutral approach is best. But above that and we want to remain aggressive from the long side.

The S&P500 is attempting to hold a breakout from an 8-month base. If we are above 2870 then we want to be buying stocks very aggressively. From a risk management standpoint, a more neutral approach in the short-term is certainly warranted if we’re below it.

From an upside confirmation perspective, the Dow Jones Internet Fund FDN holding above 148 would be incredibly constructive for the tech sector. The Software Fund IGV holding above 188 is a key level. If we’re below that, then something is likely wrong and a more neutral approach towards equities short-term is probably best. We can make the same argument about the Cloud Computing Fund SKYY and 55... holding above that level is key. We want to be aggressively buying stocks if FDN IGV and SKYY are above their respective lines in the sand.

Berkshire is important to the Financial indexes. If we’re above 200 in BRKB this is further evidence to me that we need to be aggressive from the long side. Healthy price action in BRKB is good for the Financials in general, and therefore the rest of the US Stock Market as a whole.

[Al_Dente]

AXP
ATH

[Al_Dente]

"Trump says it has been more than a century since GDP growth was last higher than the jobless rate. That's false."
[bloomberg]
[edit: Kevin Hassett, Chair of the Council of Econ Advisors, just corrected that to "the last 10 yrs"]

[Al_Dente]

UPDATE
Trade Wars chart:

[Al_Dente]

In a recent note, Morgan Stanley which recently has become arguably the most bearish of the big banks,
said it had lowered its US equity allocation to +0%, noting that it was "removing a positive bias to US equities that has existed since April 2017.”
While the bank's strategists don't urge their clients to sell outright - at least not yet … it ends by saying that it doesn't expect "to stay for the very last song at the party."

[Al_Dente]

HAPPY HOUR

fat lady.png.png (123.71 KiB) Viewed 7622 times

[Al_Dente]

The blue/cyan targets are all hypothetical
NONE have confirmed yet
5min

[Cobra]

members only update at 3:50 pm
http://www.cobrasmarketview.com/2018/09 ... ay-update/

[Cobra]

well, guess that's it for today. Tuesday tomorrow has been overwhelmingly bull friendly recently. thank you guys, I'll see you in another thread soon.

before the close, please take a little time to vote for me, thanks. https://stockcharts.com/public/1684859/tenpp