03/06/2019 Live Update

[Cobra]

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in range no direction. probably another boring range day today.

[Cobra]

members only update starts here: http://www.cobrasmarketview.com/2019/03 ... ay-update/

[BullBear52x]

Selling with very tight target so far.

[Trades with cats]

5 day composite volume outline on the right side of the chart speaks pretty loudly about what could be today's range.
So ramin noodle dinner until we get a break out.

[BullBear52x]

Testing over night low will tell, we got spiking selling down so far.

[BullBear52x]

sitting out, wishful thinking for now. one more sell setup to say what's next.

[Trades with cats]

Maybe oil inventories or fed speakers or even the beige book will give us a move we can ride.

[Cobra]

members only update at 10:03 am
http://www.cobrasmarketview.com/2019/03 ... ay-update/

[BullBear52x]

sell again, still eyeing 67ish, next support is at 78

[Trades with cats]

Tom McClellan tweeted that he will be talking on CNBC at 10-:30 eastern this morning.

[BullBear52x]

I see some buying now, ready to reverse to buy now.

[Trades with cats]

Text book set up off the overnight low. First bouncer stops at EMA pulls back, thern a nice big bullish bar but this worthless market is too weak couldn't power through VWAP (red dash dot line). Oh well.

[BullBear52x]

Cash index, bears still in control

[Mr. BachNut]

The NYMO cycle is down.
NYMO has been descending below the zero line for the last few days.

Price has been doing a volatile nothing for two weeks now.
I would say the trend has gone flat but we remain in a nice up channel.
It looks like we are testing the bottom channel edge this morning.
So, I am looking for it to provide support or break.
A close outside the channel would be telling.

The benchmark price at the last NYMO cycle high is SPX 2695.32.
From here, it is kind of hard to imagine price getting there.
There is a rising 200 day MA and a rising middle keltner band to act as support by the time NYMO hits the lower turn zone.
So, I am guessing a trip to the benchmark, if it occurs, will be a zig zaggy affair, but who knows.

My longs were stopped out in Monday's downdraft.
It was a good ride and a nice way to start the year.
It is not unusual for trading to get tougher with some signal failures and drawdowns after back to back smooth trends like we have had.
I will accept what comes.

I put on some R2K short yesterday.
Setup criteria to short SPX were not met (stronger downward movement needed).
Let's see what happens.

[Mr. BachNut]

Forgot to mention, yesterday was an inside day.
So, the break this morning is bearish as long as yesterday's high holds.

[Trades with cats]

Boy wonder (cross asset stratergest) at Nomura sees big down draft coming after options expire. Sees funds getting defensive by moving out of growth but biggest catalyst is market cash. We will be into earnings blackout for buybacks, so a rough 3 weeks.

[BullBear52x]

got my 78ish, sitting out looking to buy in but rip will be sold.

[BullBear52x]

Hop on the bulls wagon....

All aboard!!! chew chew chew.....

[luckystar2006]

All of my short-term signals confirm that short-term trend is officially down starting today, which means bears going to run the show for a week or two.

[Trades with cats]

They saved it in this area two days ago so you would think more buyers around.