10/19/2020 Live Update

[Cobra]

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No idea up or down from here. Since the day will likely within the Friday's range so it probably would be a range day.

[Cobra]

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

[JFR]

ES daily. Forming a base. Above the EMA 20. Below the top. Small bars.

[JFR]

Dow 30. No real direction. Slightly more green. NKE leading. CSCO trailing.

[Al_Dente]

volatility
spike of put buying

[Cobra]

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

[Cobra]

It's morning hourly filled black bar

[Cobra]

Maybe a little lower low than rebound to make a perfect 3 push down? So far it's just a range day.

[JFR]

SPY 5 minutes. Overnight/weekend gap up. Filled. Price beneath yesterday's close. Well beneath the EMA 20.

[Al_Dente]

BIG FIVE plus tsla
not shown: all are below their 5dma

[Cobra]

Members only update at 12:06 pm
http://www.cobrasmarketview.com/2020/10 ... ay-update/

[Cobra]

3 Push Down then double bottom? Bulls might have some chances here, watch.

[Al_Dente]

THE ELDER SYSTEM:
Today: it won’t go red until there is a Red Elder Bar on price, which may be a bit slow for you intraday traders
Top panel = short term up but weakening (consolidating?) at the moment
Middle panel 65ema on price, and bottom panel histogram = medium term up

https://school.stockcharts.com/doku.php ... lse_system

[JFR]

SPY 5. Testing strong support. Something's gotta give. Support or resistance at the EMA20. Looking for a resolution to the push down the bears are exerting.

[Al_Dente]

Pelosi and Mnuchin will discuss the stimulus at 3 p.m.ET today.
WH is "cautiously optimistic"
Senate Republicans are not in favor of the outlines of this bill.
Unresolved issues include the 'child tax credit, childcare funding, census policies, unemployment benefits, and funds for states and local funding'

[Cobra]

Could be a descending triangle, bias is down.

[JFR]

SPY. Point and Figure. One minute. No man's land. But there is a lot of pressure down.

[Al_Dente]

“‘Smart money’ just reversed bets against tech stocks in a huge way”
[Citing the COT (futures, commitment of traders) which is always late, and was posted by many folks over the weekend]
“After establishing one of their biggest short positions in U.S. tech stocks in more than a decade earlier this month, hedge-fund managers poured their money into Nasdaq futures at a near-record rate”
https://www.marketwatch.com/story/the-s ... 1603081166

[JFR]

SPY 5. Testing down. Trying to break down.

[Al_Dente]

Intraday bulls have hope
SPX LOD
QQQ no LOD
10-fangs no LOD
update: NOPE, VOID