07/01/2019 Live Update

[Cobra]

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consolidation after the gap up, bias is up.

[Cobra]

members only update starts here: http://www.cobrasmarketview.com/2019/07 ... ay-update/

[JFR]

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

[JFR]

Big picture. ES daily. We are up there, head in the clouds. Never going down again? We will see.

[Trades with cats]

Finally a close above the OH. Waiting to see if it holds.

[Trades with cats]

Nope, back into the range for now.

[Cobra]

members only update at 10:00 am
http://www.cobrasmarketview.com/2019/07 ... ay-update/

[Cobra]

morning hourly filled black bar.

[Mr. BachNut]

Another day... another gap.
My chart is now sporting 12 downside gaps.
I believe that is a record.
This market has been pretty discontinuous if you ask me.
Hard to get warm fuzzies with that kind of action, but it is what it is.

The NYMO cycle is up.
While price is making new highs, NYMO is printing a lower high at the moment.
So, a divergence may be taking shape which can have implications down the road.

I don't have much else to say frankly.
I guess I would like to see the Dow print an all time high.
With that I think one can start musing about top formations.

I am long an SPX runner position.
I was shaken out of my R2K long last week. *grumbles*

[Mr. BachNut]

Just another comment about gaps.

Over the last few weeks, I have had gaps arise in a variety of charts including commodities and currencies not just equity indexes.
A number of these gaps remain open.
It seems very weird and unusual.
It is a bit concerning as fluid markets are way preferable to jumpy ones.
While I can come up with plausible explanations, the reality is I don't know what is going on.
Hopefully, this will pass, but it is also possible that it could get more pronounced in the times ahead.
Something to watch for and deal with.

[BullBear52x]

This is a gap and not go,

[BullBear52x]

Overnight Gap support level, intraday still on a sell mode.

[BullBear52x]

Futures gap always filled, last one I remembered was very quick fill and rebound straight back up. will see, no buy setup intraday that I can see yet.

[daytradingES]

GM
my estimates were late (guests etc)
H/L est
2983.25
2962.25
21.00
and I have low confidence in these
another possibility is a low of
2969.50

Dir was +1 from the model - but with a huge o/n upmove I don't have too much confidence in that.

My gut feel is more or less sideways day as the o/n has taken most of the "energy" from the RTH.

only trading sim today

[HK88]

Cobra,

Is this one of the gaps that is expected to be filled soon?

Thx

[Mr. BachNut]

Futures gap always filled, last one I remembered was very quick fill and rebound straight back up. will see, no buy setup intraday that I can see yet.

Some take a while to fill. We just closed one in Russell 2000 futures from May 8 last night.
Interesting to see the Russell sell off after the fill.
Friday gap already filled, but two from early June lurking below (1506.9, 1476.0).
Hmmm...

[BullBear52x]

last gap, they do the V-shape rebound and failed few days later (June 20th) this time will be different I am sure.

[daytradingES]

Range rule has 2963.75
there was a volume spike on the one min
and we have
2965.50 at 10:30

sim buy order at 2965.25

[Trades with cats]

With something like 80% of all managed equity money now in ETFs it has to contribute somehow to all the gaps. After all those are derivatives with their own buffers and the sponsers only go into the market when they have to so you would think they would make quantitatve jumps rather than continuous moves, hidden of course by the algos that break up large orders.

[Cobra]

maybe the range low was in.