Cobra's Market View

Prior measured moves working again on this run up from the last swing low. But it took two legs, so not really that strong. Third leg will get us to the opening print and pave the way for a neutral day

Classic range day trades. chop chop, sell here one more time. (nimble 3-5 handles.)

HAPPY HOUR
RATE HIKE ODDS
https://www.cmegroup.com/trading/intere ... -fomc.html

Earnings: Friday, October 18
Before the open: AXP, KO, SST
After the close: not much

Al_Dente wrote:HAPPY HOUR
RATE HIKE ODDS
https://www.cmegroup.com/trading/intere ... -fomc.html

...

You referring to the linked chart with a notation showing 85% prob of rate cut?

"In the last 10 minutes of trading at the Chicago Mercantile Exchange on Friday, September 13, someone got very lucky. That’s when he or she, or a group of people, sold short 120,000 “S&P e-minis”... when the index was trading around 3010. The time was 3:50 p.m. in New York; it was nearing midnight in Tehran. A few hours later, drones attacked a large swath of Saudi Arabia’s oil infrastructure, choking off production in the country and sending oil prices soaring. By the time the CME next opened, for pretrading on Sunday night, the S&P index had fallen 30 points, giving that very fortunate trader, or traders, a quick $180 million profit."
"It was not an isolated occurrence."
https://www.vanityfair.com/news/2019/10 ... aos-trades

ES five minute. Riding the range, between S and R levels. Gotta go. Have a good one.

K447 wrote:

Al_Dente wrote:HAPPY HOUR
RATE HIKE ODDS
https://www.cmegroup.com/trading/intere ... -fomc.html

...

You referring to the linked chart with a notation showing 85% prob of rate cut?

yes, rate cut, thanks

Chart for the road: TRIN saved the day. looking to the upper BB before any meaningful selling. Peace!

Note: today is is Gap and no Go, more down side tomorrow is very possible.

BullBear52x wrote:Note: today is is Gap and no Go, more down side tomorrow is very possible.

Agree

Undervalued C/P Index CALLS back to premium to close out volatile UP today

Tomorrow another story

$CPCI P/C already begun to fall daily and weekly

SPY shorts extremely low

Advisers more Bullish than they were in 1987

https://www.yardeni.com/pub/peacockbullbear.pdf

Looks like 16 Oct 1987

When SPY Puts made 100X in a day

(Thinking out of the Box here now)

Al_Dente wrote:

K447 wrote:

Al_Dente wrote:HAPPY HOUR
RATE HIKE ODDS
https://www.cmegroup.com/trading/intere ... -fomc.html

...

You referring to the linked chart with a notation showing 85% prob of rate cut?

yes, rate cut, thanks

Rate cuts at this point in the economic cycle can be bearish

well, guess that's it for today. here's what Friday looks like: https://stockcharts.com/public/1684859/ ... /533449397

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/ ... /533449397

Cobra wrote:well, guess that's it for today. here's what Friday looks like: https://stockcharts.com/public/1684859/ ... /533449397

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/ ... /533449397

Thanks for the good calls.

Friday down ?

BullBear52x wrote:Chart for the road: TRIN saved the day. looking to the upper BB before any meaningful selling. Peace!

Double check TRIN, it closed above 1.0 on that final push down.