Cobra's Market View

SPX targets clearly defined by the top and bottom of the cyan box
2900 is strong resistance, with gap just above that
15m

Good thing earnings don't count anymore. So this shows how the experts are lowering the bar as they always do. And with big buybacks so what if you are at no difference from 2015 as long as you reduced outstanding shares by 25%, especially with the issue of where do you keep billions in cash when the banks are charging instead of paying for deposits.

Last 20 days, percentage
NDX is black and SPX is purple; hard to tell the difference as they are tracking so closely together
Purple box is that SPX box I was talking about earlier

if bulls can touch the blue line again then breakout would be likely.

Friday afternoon in the summer. FT 71 read the volume profile well today.

Anybody want to go short and get run over by a tweet or go long and watch the Peoples Army re-take Hong Kong before the markets open?

HAPPY HOUR

As The Dow dropped 800 points, the 4th largest point drop in history, Bloomberg reports that Trump held a conference call with three of Wall Street’s top executives - JPMorgan Chase & Co.’s Jamie Dimon, Bank of America Corp.’s Brian Moynihan and Citigroup Inc.’s Michael Corbat.

ELSEWHERE, TODAY:
According to the Spectator, in unprecedented action, chair Powell has banned any public appearances by any Fed Board member, noting that "appearances at conferences have been canceled, all scheduled interviews have been abandoned and any comments on or off the record are outlawed."
… the unprecedented gag order, which the Spectator says is due to Powell's determination not to do or allow to be said anything that could further fuel the struggle between an independent Fed and a controlling president….

Long story short, according to trump: trump is responsible for any rally; Powell is responsible for any drop.

Al_Dente wrote:As The Dow dropped 800 points, the 4th largest point drop in history, Bloomberg reports that Trump held a conference call with three of Wall Street’s top executives - JPMorgan Chase & Co.’s Jamie Dimon, Bank of America Corp.’s Brian Moynihan and Citigroup Inc.’s Michael Corbat.

ELSEWHERE, TODAY:
According to the Spectator, in unprecedented action, chair Powell has banned any public appearances by any Fed Board member, noting that "appearances at conferences have been canceled, all scheduled interviews have been abandoned and any comments on or off the record are outlawed."
… the unprecedented gag order, which the Spectator says is due to Powell's determination not to do or allow to be said anything that could further fuel the struggle between an independent Fed and a controlling president….

Long story short, according to trump: trump is responsible for any rally; Powell is responsible for any drop.

Mr. Al, super odd, we are not post 50% drop in markets ala 10 years ago when these PR phone calls were occurring and cramer on tv screaming, we are near all time highs - what in the world are they worried about, was that even a 3% correction? if ship goes down, trump going to take everyone with him, his business track record.

brokebybernacke2 wrote:Mr. Al, super odd, we are not post 50% drop in markets ala 10 years ago when these PR phone calls were occurring and cramer on tv screaming, we are near all time highs - what in the world are they worried about, was that even a 3% correction? if ship goes down, trump going to take everyone with him, his business track record.

Moynihan, speaking in a Bloomberg Television interview on Friday, said the turmoil has been driven by issues outside the U.S., and that recession risks are low. “We have nothing to fear about a recession right now except for the fear of recession,” Moynihan said.

Spokespeople for the other bums declined to comment [because they value all that transparency stuff], as did the Treasury Department.

Al_Dente wrote:

brokebybernacke2 wrote:Mr. Al, super odd, we are not post 50% drop in markets ala 10 years ago when these PR phone calls were occurring and cramer on tv screaming, we are near all time highs - what in the world are they worried about, was that even a 3% correction? if ship goes down, trump going to take everyone with him, his business track record.

Moynihan, speaking in a Bloomberg Television interview on Friday, said the turmoil has been driven by issues outside the U.S., and that recession risks are low. “We have nothing to fear about a recession right now except for the fear of recession,” Moynihan said.

Spokespeople for the other bums declined to comment [because they value all that transparency stuff], as did the Treasury Department.

He was talking to the banks. It's a bank issue, thus.

well, guess that's it for today. here's what Monday looks like: https://stockcharts.com/public/1684859/ ... /533449377

thank you guys, I'll see you in another thread soon.

before the close, please take a little time to vote for me, thanks: https://stockcharts.com/public/1684859/ ... /533449377

breakout as expected. Is the phantom bar telling us the Monday target?

Al_Dente wrote:HAPPY HOUR

Looks like a nice place to visit ... as long as you don't go outside.

.