10/15/2020 Live Update

[Cobra]

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This bear shall have legs.

[Cobra]

The members only update starts here: http://www.cobrasmarketview.com/2020/10 ... ay-update/

[Cobra]

As usual rebound to EMA20, I'll see you there. For now looks like an uptrend day.

[Cobra]

Members only update at 10:10 am
http://www.cobrasmarketview.com/2020/10 ... ay-update/

[Cobra]

It's morning hourly hollow red

[Al_Dente]

10-fangs and qqq, 5min

[Al_Dente]

This launched Tuesday.
The Invesco NASDAQ 100 ETF (QQQM)––“m” represents “mini”––is essentially a cheaper version of the QQQ with the same exposure to the same stocks. While the original QQQ currently trades at nearly $295 per share and charges an expense ratio of 0.20%, the new Invesco QQQM trades for $120 per share and costs 0.05 percentage point less.
Per pasta: HEY, WHY NOT JUST SPLIT QQQ? QQQM won’t be nearly as liquid as QQQ. It’s clearly designed for folks in the cheap seats. Makes me suspicious because nowadays folks could just buy 1 share of QQQ, right? What am I missing.
Of course Stockcharts doesn’t chart it yet
https://www.barrons.com/articles/invesc ... 1602630066

[Al_Dente]

GS: "we downgrade Tech to Neutral"
FWIW

[Al_Dente]

McElligott: you cannot overstate the Gamma impact on the overall market of those single-name mega-cap Tech options expiring tomorrow
The “negative Gamma” in these monster positions [from the calls which the Dealer is short this expiration, AMZN, ADBE, NFLX] ,,,has them chasing the market to remain Delta hedged, accelerating the swings in both directions this week.
….accelerant flow on the way down,
…. leaving the Dealer overhedged “long”
...things would get messy on a move down through 3400 (3389 to be exact) in SPX and / or through 284.63 in QQQs, where we estimate that the current index “long Gamma” position for Dealers flips "short".

[Al_Dente]

volatility

[Cobra]

Testing EMA20 as expected. Now it's the bear's last chance to make today a downtrend day.

[Al_Dente]

update
box target met

[Cobra]

Small ascending triangle I see so bias is a little bit up.

[JFR]

ES daily. Pulling back once again. A lower high than the one in early September.

[JFR]

Dow 30. More red than green. Led by WBA, JPM and NKE. Trailing are CRM, MRK and AMGN.

[JFR]

SPY 5. Trying to fill the overnight gap. Second failure at the day's high.

[Cobra]

Members only update at 12:33 pm
http://www.cobrasmarketview.com/2020/10 ... ay-update/

[Al_Dente]

megaphone = broadening top.
Higher peaks and lower valleys, poor performer, breakout is up 61% of the time
http://thepatternsite.com/bt.html

[Al_Dente]

BIG FIVE plus tsla
Yesterday started PRIME DAY
AMZN stock (cyan) was not impressed

[Al_Dente]

note new ipo
ARRY
solar company