Cobra's Market View

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the rebound shall have legs, may test the resistance above. actually it's testing the resistance now as resistance is a zone not just a line.

members only update starts here: http://www.cobrasmarketview.com/2019/06 ... ay-update/

FT 71 posted this screen shot of the CT Bookmap Pro view of the market before the cash open. Makes it real clear where the resting orders are (white) and the large trades (colored dots). Fancy toys for the big boys!

obviously a range day today.

ES, NQ, YM breaking down beneath their opens. M2K crashing through the floor.

JNJ having a great day. MCD and DOW Holdings up.

Eisenhower talking to troops about to face the hardest day of their lives, as they seek to liberate Europe from the Nazi death grip. D-Day. June 6, 1944. God bless All.

Tough day for some retailers.

Strong rebound. M2K lagging.

Back later ...

SPX hit my minimum upside target of 2830-2855-ish. I'll look for a setup to begin shorting the SPX again.

the morning pullback then up to break the day high then sharp pullback, all were typical range day behaviors so it's a range day, nothing interesting.

SPX up and SMALLS down on the second day of FLAT AD
Bulls can’t go too far without a healthier AD
Jobs tomorrow and/or tariff talks will be the catalyst
5min

You never truly understand something until you can explain it to your grandmother.

Anytime a fund CLOSES ITS GATES, it's useful to see if it’s one wacko manager, or a potentially systemic problem with potential domino ramifications.
This guy was arbitraging illiquid assets vs liquid assets, and he was slammed by redemption requests, and obviously had a bit of trouble liquidating the illiquids to meet redemptions.
Hmmmmm …….
https://www.zerohedge.com/news/2019-06- ... t-industry

The last 15 days %
(orange is our healthcare cartel)

what? some good news?

Consolidation trading rule
With existing trend usually continues. But most common pattern is to break out, then pull back and then go into the move. Worked three times (sort of) this afternoon.

Reuters saying US may delay imposing Mexican Tariffs.

For me the real problem is you can't hoard avocados and tomatoes so consumers will notice!

Tariffs- Not Trading related

My wife volunteers at a charity that uses the funds that it raises to provide elementary school kids with a full set of new cloths for school. They buy direct and have a facility where the various schools bus the kids. Largest selection of little kid jeans in the state. They cloth around 3,800 kids a year. Finance committee (which she chairs) had to make a noticeable large emergency budget increase this spring because of tariffs. Wait till August when all the moms go back to school shopping.