07/27/2016 Live Update

[debaser]

Cyan wedge on 5 min ES chart

[fehro]

key time..

[Cobra]

members only update at 12:03 pm
http://www.cobrasmarketview.com/2016/07 ... ay-update/

[fehro]

SPX trying to hold it here.. it's still shaky..

[Trades with cats]

Why invest in oil companies once a bottom is in?

[fehro]

SPX breaks yellow.. SPX 5m could see a sharp down.

[Al_Dente]

Here’s my problem with XLF failing then trying to break out at a double top. Overlaid here (red dashed line) are the banks which are lagging.

The YTD percentage chart here shows that the gains are all due to reits (lime) and insurance (gray) AND NOT BANKS.
In September they will take all reits out of XLF and create a new sector called “Real Estate” (true story), but until then, we have a bit of a distorted picture of “Financials.”
Perhaps best to use the symbols for banks and regionals: $BKX, KRE, KBE.

[fehro]

INDEX days.. TRANSports DJ-20 - 1.65% - 130 points new LOD, new LOW TLT pressing 20d 140.07, VIX > 20d

[Trades with cats]

With Fed prepping for NRIP banks are in a world of hurt. Dutch bank has given up (due to NIRP) and is starting to charge for deposits. SUpposedly some major european banks are building massive vaults to store pallets of currency rather than be charged for excess reserves. Remember last summer Larry Summers and Paul Krugman started the campaign to outlaw cash. Only way to enforce NIRP rates on ordinary folks.Of course because this is key element to implement NIRP they lied and claimed it was all about crime. After they got called out on the issue they went quiet.

[Trades with cats]

Extracted from Wall Street Journal http://www.zerohedge.com/news/2016-07-2 ... -statement

[Al_Dente]

leaked?
here we go
boom

[Cobra]

10 minutes to show time. if disregard show time then the current pattern would be more likely the low was in or very close.

[fehro]

SPX looks very weak

[Cobra]

show time, the 1st reaction usually is real.

[Al_Dente]

Unchanged, no hike

[fehro]

SPX ..VIX holds

[MrMiyagi]

khhh

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[Al_Dente]

*FED SAYS `NEAR-TERM RISKS' TO ECONOMIC OUTLOOK HAVE DIMINISHED
*FED: JOB MKT STRENGTHENED, ECONOMY EXPANDING AT MODERATE RATE
*FED: HOUSEHOLD SPENDING GROWING STRONGLY, BIZ INVESTMENT SOFT
*FED REPEATS ECONOMY TO EVOLVE IN WAY WARRANTING GRADUAL HIKES

*FED: JOB MKT STRENGTHENED, ECONOMY EXPANDING AT MODERATE RATE
*FED: HOUSEHOLD SPENDING GROWING STRONGLY, BIZ INVESTMENT SOFT
*FED REPEATS JOB MKT TO STRENGTHEN, INFLATION SEEN STAYING LOW
*FED REPEATS CLOSELY MONITORING GLOBAL, FINANCIAL DEVELOPMENTS

One dissent:
*FED: GEORGE DISSENTS IN FAVOR OF QUARTER-POINT RATE RISE

[Zane]

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more up ahead?

[Trades with cats]

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more up ahead?

The comments are supposed to tell us is it September or December.