06/26/2019 Live Update

[Cobra]

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no idea up or down from here. maybe back to boring day again?

[Cobra]

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

[JFR]

Overnight gap up on ES, NQ, YM and IWM.

[JFR]

DOW leaders out of the gate.

[JFR]

Dive. Dive.

Back later ...

[Cobra]

members only update at 10:05 am
http://www.cobrasmarketview.com/2019/06 ... ay-update/

[Trades with cats]

When things quiet down highly recommend spending 20 minutes watching Futures Trader 71 Trader byte on you tube for today. He explains how he used volume profile and standard (statistically significant) rules to trade the auction yesterday.

Had to go dumpster diving at Zero hedge to find the overnight story, funny the regular news feeds (guilty as sin) aren't covering themselves CNBC (gosh I am starting to sound like the President) got a tweet wrong at around 5 am Eastern printing is 90 % instead of we were 90% on a Minuchkin comment on the trade deal. Of course Bloomberg etc immediately picked it up. Then, instead of apologizing they simply deleted their tweet.
China, what a lovely thing. Any time you want to spike the market.

[Trades with cats]

Liquidity pool at ES 2929 wasn't touched during the iopening swing so I am guessing we are going to try to drain the one down around yesterday's close which is also yesterday's POC. Then we find out if we stay inside the overnight low to prove it is a tight little inside range day.

[Daniel]

Watching IWM for clues...

IWM is in a narrow range btw a 151 support lvl, and the 200day MA above at ca. 151.60

[Trades with cats]

Watching IWM for clues...

Bill Blane the London bond trader who's Morning Porridge op ed shows up regularly on the evil site is expecting the bond market to lock up as we hit the liquidity crisis. I have been thinking that with all the negative earnings and Zombies in the IWM that it will also show significant stress beyond the large cap indexes when that event happens. Any who doubt it is on the way just peruse Chair Powell's remarks about how they are ready to provide liquidity yesterday. Or just keep believing in Chinese leadership capitulating to the US President (not in my lifetime)

[Daniel]

Two conflicting strong and well-established seasonal tendencies merging together now...

"Post Opex Weakness Typical in June"
http://quantifiableedges.com/post-opex- ... l-in-june/

"Bullish Last 3 Days June Starts NASDAQ’s Midyear Rally"
https://jeffhirsch.tumblr.com/post/1858 ... qs-midyear

[BullBear52x]

Market is weaker than I anticipated today, Hmm......28.5 is a pivot for me now. new LOD will be very dangerous for the bulls. sell with stop @ 31 for now.

[BullBear52x]

Resistance is clear on cash index.

[BullBear52x]

Cash index fib. bears are still in control.

[Trades with cats]

Market has returned to the scene of the crime (SoC) that being the fake news report.

[Cobra]

probably the range low was in.

[Trades with cats]

Really starting to look like an inside day.

[BullBear52x]

I am on a bull train now

expecting market to close stronger today but extremely cautious with a very tight stop.

[BullBear52x]

Wishful thinking, I am on the Blue.

[Trades with cats]

Starting to feel like I'm a Looney Tune cartoon character bouncing between the open and the EMA. My guess is we are done for the day.