Back to www.cobrasmarketview.com

   

07/29/2020 Live Update

Re: 07/29/2020 Live Update

Postby Cobra » Wed Jul 29, 2020 12:09 pm


Like to read more of my commentaries? Please subscribe my Daily Market Report.
Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.
User avatar
Cobra
Site Admin
 
Posts: 46705
Joined: Sat Feb 12, 2011 10:29 pm

Re: 07/29/2020 Live Update

Postby Heck » Wed Jul 29, 2020 12:09 pm

Treasury yields dip with 5-year rate hitting a record low ahead of Fed decision

EDV Target + 26 %
From 173.25 edit to 219
+ 1.9 % Zero Coupon Long Treasury
Last edited by Heck on Wed Jul 29, 2020 2:40 pm, edited 1 time in total.
Heck
 
Posts: 2108
Joined: Thu Nov 15, 2012 4:56 pm
Location: Lake Tahoe, Nevada

Re: 07/29/2020 Live Update

Postby Cobra » Wed Jul 29, 2020 12:11 pm

Cannot say the pullback would be bought as it could be a vacuum all the way to the range high and now sharp down to the range low as NA is down sharply now, will have to wait and see.

ES5min.png
ES5min.png (14.97 KiB) Viewed 438 times

NQ5min.png
NQ5min.png (13.99 KiB) Viewed 438 times

Like to read more of my commentaries? Please subscribe my Daily Market Report.
Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.
User avatar
Cobra
Site Admin
 
Posts: 46705
Joined: Sat Feb 12, 2011 10:29 pm

Re: 07/29/2020 Live Update

Postby Heck » Wed Jul 29, 2020 12:13 pm

red close ?
Heck
 
Posts: 2108
Joined: Thu Nov 15, 2012 4:56 pm
Location: Lake Tahoe, Nevada

Re: 07/29/2020 Live Update

Postby Al_Dente » Wed Jul 29, 2020 12:18 pm

TODAY:
Rep. Louie Gohmert, Texas, has tested positive for coronavirus.
Gohmert had been scheduled to fly aboard Air Force One with President Trump to Midland, Texas, where he is fundraising and touring an oil rig. He tested positive for coronavirus on Wednesday morning during a pre-flight screening at the White House. Because of the positive test, Gohmert is not traveling with the President.
User avatar
Al_Dente
 
Posts: 24385
Joined: Thu Jul 21, 2011 2:29 pm

Re: 07/29/2020 Live Update

Postby Cobra » Wed Jul 29, 2020 12:25 pm

Now the breakout is more likely and for real but still because of the roller coaster show at 2 pm, I'll pass.
Attachments
ES5min.png
ES5min.png (14.96 KiB) Viewed 415 times

Like to read more of my commentaries? Please subscribe my Daily Market Report.
Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.
User avatar
Cobra
Site Admin
 
Posts: 46705
Joined: Sat Feb 12, 2011 10:29 pm

Re: 07/29/2020 Live Update

Postby Al_Dente » Wed Jul 29, 2020 12:34 pm

BIG TECH testimony delayed to 1:00 ET
Will be LIVE here:
https://www.youtube.com/watch?v=id1BUAwrBMc
User avatar
Al_Dente
 
Posts: 24385
Joined: Thu Jul 21, 2011 2:29 pm

Re: 07/29/2020 Live Update

Postby Heck » Wed Jul 29, 2020 12:44 pm

GLD Target + 31 %
From 182.39 to 238.94

SLV Target + 106 %
From 22.29 to 45.82

Can Gold Surpass The S&P 500 ?
Last edited by Heck on Wed Jul 29, 2020 3:36 pm, edited 1 time in total.
Heck
 
Posts: 2108
Joined: Thu Nov 15, 2012 4:56 pm
Location: Lake Tahoe, Nevada

Re: 07/29/2020 Live Update

Postby Heck » Wed Jul 29, 2020 12:48 pm

Debt Default Deflation

UUP Target + 67 %
From 25.23 to 42
Heck
 
Posts: 2108
Joined: Thu Nov 15, 2012 4:56 pm
Location: Lake Tahoe, Nevada

Re: 07/29/2020 Live Update

Postby Heck » Wed Jul 29, 2020 1:02 pm

Bunch of bandits ?

Delayed High Tech Titan Hearing

https://www.youtube.com/watch?v=MiC-zSbC8K0
Heck
 
Posts: 2108
Joined: Thu Nov 15, 2012 4:56 pm
Location: Lake Tahoe, Nevada

Re: 07/29/2020 Live Update

Postby Heck » Wed Jul 29, 2020 1:33 pm

Velocity of Money Still Dropping From 1981

Approaching 1, meaning no net benefit

https://fred.stlouisfed.org/series/MZMV

Fed Chair Powell today cited a stat:

If you make $40K or under, you had a 40% chance of losing your job in May and June.

Whatever It Takes
Last edited by Heck on Wed Jul 29, 2020 3:56 pm, edited 3 times in total.
Heck
 
Posts: 2108
Joined: Thu Nov 15, 2012 4:56 pm
Location: Lake Tahoe, Nevada

Re: 07/29/2020 Live Update

Postby Cobra » Wed Jul 29, 2020 2:21 pm

Guess the show was over. FOMC day usually close weak though.
Attachments
1.png

Like to read more of my commentaries? Please subscribe my Daily Market Report.
Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.
User avatar
Cobra
Site Admin
 
Posts: 46705
Joined: Sat Feb 12, 2011 10:29 pm

Re: 07/29/2020 Live Update

Postby Cobra » Wed Jul 29, 2020 2:30 pm

Small ascending triangle, bias is up.
Attachments
1.png

Like to read more of my commentaries? Please subscribe my Daily Market Report.
Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.
User avatar
Cobra
Site Admin
 
Posts: 46705
Joined: Sat Feb 12, 2011 10:29 pm

Re: 07/29/2020 Live Update

Postby Al_Dente » Wed Jul 29, 2020 2:43 pm

User avatar
Al_Dente
 
Posts: 24385
Joined: Thu Jul 21, 2011 2:29 pm

Re: 07/29/2020 Live Update

Postby Heck » Wed Jul 29, 2020 2:49 pm

Feds use withdrawal method on Portland and Seattle riots

Let the hot August nights games begin ?
Heck
 
Posts: 2108
Joined: Thu Nov 15, 2012 4:56 pm
Location: Lake Tahoe, Nevada

Re: 07/29/2020 Live Update

Postby Al_Dente » Wed Jul 29, 2020 2:59 pm

Interesting answer from Powell:
“Blackrock is just our agent … we formulate the policy and give it to them to execute”

[ Cynic Pasta here: No mention of firewall, or whatever...]
User avatar
Al_Dente
 
Posts: 24385
Joined: Thu Jul 21, 2011 2:29 pm

Re: 07/29/2020 Live Update

Postby Al_Dente » Wed Jul 29, 2020 3:03 pm

Like clockwork, at precisely 2 pm:
Huge spike up in GDX intraday
You missed it
No, wait a minute… huge spike down now :shock: :shock: :shock:
User avatar
Al_Dente
 
Posts: 24385
Joined: Thu Jul 21, 2011 2:29 pm

Re: 07/29/2020 Live Update

Postby BullBear52x » Wed Jul 29, 2020 3:06 pm

see third time of rising wedge. good call Cobra that it will turn so I wait patiently, I thought they will push ES to 3260, not a bad entry above 3250ish, :mrgreen:
Cas SPX here to show 3 rising wedge that should not hold.
Attachments
1.PNG
My comments are for entertainment/educational purpose only. NOT a trade advice.
User avatar
BullBear52x
 
Posts: 23162
Joined: Tue Feb 22, 2011 3:47 pm

Re: 07/29/2020 Live Update

Postby Heck » Wed Jul 29, 2020 3:10 pm

GLD All Time High Today

BULLYA
Heck
 
Posts: 2108
Joined: Thu Nov 15, 2012 4:56 pm
Location: Lake Tahoe, Nevada

Re: 07/29/2020 Live Update

Postby BullBear52x » Wed Jul 29, 2020 3:12 pm

When we have government intervention, it is hard to fight in term of trading, this is trading market, Buy and hold will get burnt shortly.
Attachments
1.PNG
My comments are for entertainment/educational purpose only. NOT a trade advice.
User avatar
BullBear52x
 
Posts: 23162
Joined: Tue Feb 22, 2011 3:47 pm

PreviousNext

Return to Traders Lounge

Who is online

Users browsing this forum: No registered users and 25 guests