12/19/2018 Live Update

[Cobra]

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double bottom or not, wait and see.

[Cobra]

members only update starts here: http://www.cobrasmarketview.com/2018/12 ... ay-update/

[JFR]

The market opens with overnight gap up on SPY, QQQ, DIA and IWM.

[Trades with cats]

WATCH LIVE TODAY: Press conference with #FOMC Chairman Powell at 2:30 p.m. ET: https://go.usa.gov/xPjM4

[Cobra]

members only update at 10:00 am
http://www.cobrasmarketview.com/2018/12 ... ay-update/

[JFR]

Strong move up. The bulls keep the faith. Ha ha

[JFR]

Big picture. Down for the year. Strong move down for 3 days. Small bounce today.

No man's land. My hunch is the bulls are just swimming against the current. If it bottoms, fine. If it plunges, it just might be a wild ride.

Waiting for the interest rate call.

[JFR]

At some resistance.

[te_fern]

I would think the bulls would need to break this resistance line from yesterday to even think about getting anything going...

[Trades with cats]

Coolbiz has a line in the sand today. A close over SPX 2605 is where he goes to neutral to re-evaluate market direction.

[Al_Dente]

WSJ morning note (no paywall)
https://blogs.wsj.com/economics/2018/12 ... questions/

[te_fern]

Coolbiz has a line in the sand today. A close over SPX 2605 is where he goes to neutral to re-evaluate market direction.

Thanks!

[Trades with cats]

With the reported numbers of buy and sell programs going off over the last two days anything is possible for a half hour or so. Look at the ramp into the close which was promptly reversed then repeated overnight, I assume because Jeremy Corbin has effectively ended his political career. When we get a female president in the US I am confident some leading senator will do the same thing.

[te_fern]

Will need to get through 2 pivots to get there today, but here's his line.....

[daytradingES]

9:21 AM 2018-12-19

h/l 2571, 2514.75

note already H2571.50 9:17
watch out for 2577.75 YH
getting close to there is probably a push through it => e.g. 2583

NTA

edit ; correct YH

[te_fern]

It broke the line, but not with much conviction. As someone said earlier, waiting on the Fed....

[JFR]

With the reported numbers of buy and sell programs going off over the last two days anything is possible for a half hour or so. Look at the ramp into the close which was promptly reversed then repeated overnight, I assume because Jeremy Corbin has effectively ended his political career. When we get a female president in the US I am confident some leading senator will do the same thing.

Coming soon to a theatre near you: Brexit. How a country can shoot itself in the foot. It has our attention.

[Cobra]

yesterday's high as resistance, might pullback here first then we'll see.

[te_fern]

We may also be in one of Pasta Boss's boxes.....

[JFR]

Trying hard to break out.