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07/24/2020 Live Update

07/24/2020 Live Update

Postby Cobra » Fri Jul 24, 2020 9:24 am

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No idea up or down from here but if rebound then the low could be in overnight because the pattern is good enough to be a bottom pattern. Trend day possible either up or down.
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Re: 07/24/2020 Live Update

Postby Cobra » Fri Jul 24, 2020 9:27 am

The members only update starts here: http://www.cobrasmarketview.com/2020/07 ... ay-update/

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Re: 07/24/2020 Live Update

Postby Heck » Fri Jul 24, 2020 9:30 am

QQQ BUYING > 251.32 edit
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Re: 07/24/2020 Live Update

Postby BullBear52x » Fri Jul 24, 2020 9:57 am

The only number that make sense on my crystal ball is 3155 from the look of market profile.

good luck all, see you next week.
My comments are for entertainment/educational purpose only. NOT a trade advice.
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Re: 07/24/2020 Live Update

Postby BullBear52x » Fri Jul 24, 2020 10:03 am

ES big picture, Peace!
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Re: 07/24/2020 Live Update

Postby Cobra » Fri Jul 24, 2020 10:12 am


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Re: 07/24/2020 Live Update

Postby Al_Dente » Fri Jul 24, 2020 10:20 am

$NYFANG
724fang.png.jpg
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Re: 07/24/2020 Live Update

Postby Cobra » Fri Jul 24, 2020 10:22 am

Testing EMA20, it's the bear's last chance to make today a downtrend day. Bears haven't had 2 consecutive down days for awhile now.
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Re: 07/24/2020 Live Update

Postby Al_Dente » Fri Jul 24, 2020 10:22 am

same chart, $NYFANG, but DAILY with the default 20/50ma
724fang day.png.jpg
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Re: 07/24/2020 Live Update

Postby Al_Dente » Fri Jul 24, 2020 10:26 am

"Individual investors a ‘big part’ of the market over last few months, NYSE president says"
https://www.cnbc.com/2020/07/24/individ ... -says.html
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Re: 07/24/2020 Live Update

Postby Heck » Fri Jul 24, 2020 10:31 am

green close ?
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Re: 07/24/2020 Live Update

Postby Heck » Fri Jul 24, 2020 10:34 am

VGT Target + 84 %
From 276.88 to 510.4
+ 1 % Dividend Yield
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Re: 07/24/2020 Live Update

Postby Mr. BachNut » Fri Jul 24, 2020 10:36 am

Mr. B reporting in...

The NYMO cycle is up but sputtering.
Getting above and staying above the zero line has been managed with struggle.
We are a little negative this morning. So, today's close will be interesting.

Price has broken down out of an ascending wedge today.
At the moment, the mid-week break above the wedge looks like an overshoot and a possible bull trap.
Today, we have opened an upside gap at yesterday's close and came close to closing a downside gap at SPX 3197.52.
There is also an open down gap in the ES future at 3184, which I expect to close in due course.

An ideal scenario for bears would be to close this morning's gap, test the underside of the wedge and set up a little head and shoulders pattern that resolves to the downside.
Probably won't happen...

I am long a small R2K position. I did put on a small SPX position some time ago that scaled out some profits before getting breakeven stopped.
What profits I have made in SPX from the March low have come from scales. The high volatility character of the rally has made my breakeven stops easy pickings.
A little frustrating... but I think this is meaningful somehow. This rally has been different in character than prior Fed induced rallies we have seen in recent years.

NYMO 072420.jpg
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Re: 07/24/2020 Live Update

Postby Cobra » Fri Jul 24, 2020 10:56 am

Possible higher low, bears were over again today.
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Re: 07/24/2020 Live Update

Postby Cobra » Fri Jul 24, 2020 10:59 am

mm possible.
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Re: 07/24/2020 Live Update

Postby Cobra » Fri Jul 24, 2020 11:46 am

I see bull flag, bias is up.
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Re: 07/24/2020 Live Update

Postby Al_Dente » Fri Jul 24, 2020 12:01 pm

GS:
"...2.3% of all volume is made up of trades for $2,000 or less.
The increase in small trades has been even more notable in the options market, where 13% of all trades are for 1 contract."

zh:
Goldman spotted an unprecedented market inversion, for the first time ever, the volume of option trades surpassed that of ordinary shares! Translation: the derivative is now more liquid and popular than the actual underlying.
... a significant portion of this increase has been driven by higher volumes in short dated contracts, as investors are literally using massive leverage to wager on near-term momentum moves such as those often highlighted OTM calls traded in Tesla stock.
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Re: 07/24/2020 Live Update

Postby Cobra » Fri Jul 24, 2020 12:22 pm


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Re: 07/24/2020 Live Update

Postby Al_Dente » Fri Jul 24, 2020 1:16 pm

note INTC
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Re: 07/24/2020 Live Update

Postby jademann » Fri Jul 24, 2020 1:18 pm

INTC was the story of the day for me. Reinforces my general bear views which are valuation based. I also want to see AMZN broken up, it’s like one of those big Korean chaebols you hear about.. Anti-trust issues.
My comments were dictated to me by homie the clown
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