09/04/2015 Live Update

[Cobra]

members only update at 12:25 pm
http://www.cobrasmarketview.com/2015/09 ... ay-update/

[fehro]

almost there... SPX gap..

[Trades with cats]

Today s gap had nothing to do with jobs report, in my opinion. I see it as Japan starting with the 100 point flash crash last evening when the econ minister said the wrong thing followed up by a drop from 120 to 118 in the dollar/yen. ES was at around 1931 when the report was issued and we have touched 1930 twice this morning.

In my mind the bigger issue is the three day weekend. My father would have said that the shoe clerks are running the exchange today. Of course that implies fireworks next week after they decide what to do. Don't forget the head quant at JP Morgan said Bridewater's Ray Dalio and the rest of the hedge funds are still overweight equities by a lot and need to unload to get their strategies back in line.http://www.zerohedge.com/news/2015-09-0 ... e-price-ri Now with the odds of the rate hike increased you know some poor Phd is running computer models all weekend so the big guys can decide on Tuesday how to get things back in balance without tanking a market that has no liquidity.

I know that sounds bearish but it is just like the Gamma hedgers crazy moves at the end of the day, they are playing a different game than we are. End of October if the numbers change their models (Bridgewater et al) will make them start buying back, big time.

[MrMiyagi]

I don't think day low is going to hold

[Cobra]

vol surge, could be a rebound here first then we'll see.

[Trades with cats]

The delayed quote at FINVIZ says 118.9 to the dollar. This mornings low was 118.80 if you ignore a small flash crash (kinda looks like a p-bar) to 118.60. Maybe someone who trades currency could say what is actually going on.

[MrMiyagi]

Janet's been vewy vewy lazy lately.

[jademann]

If interest rates do rise in September when would they do it?

[MrMiyagi]

If interest rates do rise in September when would they do it?

That announcement would in theory be on the 17th.

[jademann]

thanks Mr M

[fehro]

SPX gap fill.. now wicked rally? careful sounds crazy I know.. bottom of Triangle.. ABCDE.. at D so up to E.. then down next week?

[Cobra]

vol surge, should be another rebound here first then we'll see

[daytradingES]

looking to run the low stops? <1910

[fehro]

SPX ,, watching hourly candle.. dabble small long here...

[Daniel]

Financials have been a major source of weakness today.

XLF down -2.5% at worst.

[fehro]

minor invs H&S SPX 1m.. hammering the hourly... careful a face ripping up rally... just sayin'

[Daniel]

NYSE down/up volume has been ghastly-- and is actually getting worse again.

Back to over 10 to 1 downside!

-update 12 to 1



Naz has been relatively better all day.

[Cobra]

vol surge, this time might mean pullback. bulls need break the channel first otherwise bear rules.

[noob]

minor invs H&S SPX 1m.. hammering the hourly... careful a face ripping up rally... just sayin'

No buying pressure today, yet.... If selling like this to close will close <1900

[fehro]

minor invs H&S SPX 1m.. hammering the hourly... careful a face ripping up rally... just sayin'

No buying pressure today, yet.... If selling like this to close will close <1900

yup not an ideal hammer.. VIX pressing HOD again.. depends if we hold a higher low, and VIX a lower low..