06/29/2016 Live Update

[JFR]

KEN HOOVER
11:05 AM ET

Investors ignored Goldman Sachs, which lowered price targets on Internet bellwethers Facebook (FB) and Alphabet (GOOGL), and bid up both stocks as the market rallied Friday.

Goldman said volatile currencies and revenue exposure as the result of the Brexit vote justified lowering the price target for Google parent Alphabet to 810 from 850 and dropping Facebook's price target to 142 from 146. Both targets are still well above current levels.

Alphabet and Facebook were among stocks that joined the major indexes in gapping higher for the second straight day, confounding short-sellers.

The Nasdaq rose 1.3%; the S&P 500 gained 1.2% and the Dow Jones industrial average rallied 1.1% in the stock market today. The S&P 500 and Dow industrials are now positive again for 2016. Volume was tracking lower on both exchanges.

The British pound rallied more than 1% as did the price of oil.

Amazon (AMZN), which has found support at its 50-day moving average, also climbed 1%. Amazon climbed 2.4% on Tuesday.

NetEase (NTES) was the best performer in the IBD 50, up nearly 5% in above-average volume. NetEase broke out of of a cup-with-handle base with a 179.20 buy point.

Nike (NKE) joined the party with a 1.5% gain, making it the Dow's best performer. Nike sank in after-hours trading Tuesday after it missed on Q4 sales and orders. But upbeat analysts turned the stock around by the opening. -- IBD

[JFR]

NTES

[fehro]

SKEW new highs 153.66

[Al_Dente]

What's Driving This Ramp? The Biggest Short Squeeze In 5 Years
https://stockcharts.com/h-sc/ui?s=IWM&p ... =459448492

[Cobra]

so far just proves my earlier call: strong uptrend day.

[fehro]

SPX 50d getting close.. 2076.35 only 10ish points higher

[JFR]

Brexit? Brexit Schmexit. No worries. Shrug it off. LOL Crazy. Enjoy the ride.

[MrMiyagi]

NEVER EVVVARRR GOING DOWN AGAIN!!!

[JFR]

No surprise. $TICK has been running hot.

Back later ...

[Royal Flush]

What's Driving This Ramp? The Biggest Short Squeeze In 5 Years
https://stockcharts.com/h-sc/ui?s=IWM&p ... =459448492

Also EOM & EO 1/4 window dressing.

[sleeman]

sell small for a scalp this hour 56.75


added a little more 58

[K447]

EUR.USD, GBP.USD

Fiber chopping like crazy. Cable more calm.

What are you referring to?

[Cobra]

members only update at 12:07 pm
http://www.cobrasmarketview.com/2016/06 ... ay-update/

[Al_Dente]

https://www.youtube.com/watch?v=kK62tfoCmuQ

[fehro]

guess that FOMC bank stress test results @ 4:30pm are worse than expected.. .. need to build a big cushion 50d only 9 points away

[fehro]

as per yesterday… nearing target/top channel.. viewtopic.php?f=2&t=2089&start=80#p225760

[Out of Bounds]

Looking a bit parabolic.
Short 2059

[sleeman]

sell small for a scalp this hour 56.75


added a little more 58

buy-out 58.75

[Al_Dente]

10 day %
Yield (dashed gray) diverges

[QED]

1M share block of SPY traded at $206.40 shortly after 12:30pm.

Top of this run?