04/13/2017 Live Update

[Cobra]

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testing support, key time.

[Cobra]

members only update starts here: http://www.cobrasmarketview.com/2017/04 ... ay-update/

[Cobra]

members only update at 10:05 am
http://www.cobrasmarketview.com/2017/04 ... ay-update/

[Cobra]

this bull shall have legs.

[Al_Dente]

Rob Hanna has 66% bull odds for today
http://quantifiableedges.com/holy-bullish-thursday/

[MrMiyagi]

KIDNEYS FOR BREAKFAST!!??

[Mr. BachNut]

Descending Wedge on the hourly.

5th wave down into the overnight low.

I put on small long shortly after the cash open.
Position under tight management.
Open to reposition with tight stops on a pullback and won't be brave with this.
If alive at close will decide on whether to hold over long weekend. Market on the dicey side.
Guessing wedge may not break until next week...if it breaks... could break down instead of up too... haven't a clue...

[Mr. BachNut]

Mr. B is ready for the long weekend. For a short week, it has felt long.

The NYMO cycle may be turning here.
It has been up and has held above the zero line all week in spite of weak price action.
This morning, it is below the zero line, and a close below zero says the cycle is down.
As price is bouncing a bit here, kinda need to wait for the close before making judgements.
There may be some morning selling before the long weekend that could abate by the end of the day.

Price has been declining this week, but has been finding support at the middle keltner band.
Multiple middle keltner tags fits with prior breaks from above the upper keltner.
I am pondering a possible expanding formation (blue orange lines) as algos chop and run stops about a meridian. (Think difficult trading environment)
I am also pondering a descending wedge posted earlier. The possible wedge target would suggest a high above the current April high but not necessarily another ATH. Hmmm...
There are also two small gaps a little above that would be good to close.
Something to think about, but there are plenty of other paths including bear paths.
Breakdown would bring the red target stack into play.

I am a little long here. Noted earlier.
No conviction though. If the NYMO cycle flips to down, so would my orientation.
Heading to some vacation next week. So, it will probably be a big week...
No post, small positions and hard stops for me whatever may happen.

[uempel]

Update on SPX daily Trump-Rally-Chart:

[fehro]

NDX daily pushin 20d .. outside reversal

[Al_Dente]

NY advancing stocks = 0.81 x declining stocks
NY advancing volume = 0.80 x declining volume
NY declining stocks = 1.2 x advancing stocks
NY declining volume = 1.1 x advancing volume

1-to-1, El Choppo at the moment

[Cobra]

members only update at 12:02 pm
http://www.cobrasmarketview.com/2017/04 ... ay-update/

[MrMiyagi]

Beating time....

[Trades with cats]

Small caps at a new low for the week, leading the way. But once again, they do not have the heavyweight institutional favorites to stabilize the price swings.

[Cobra]

might test day low.

[Al_Dente]

NY advancing stocks = 0.81 x declining stocks
NY advancing volume = 0.80 x declining volume
NY declining stocks = 1.2 x advancing stocks
NY declining volume = 1.1 x advancing volume
1-to-1, El Choppo at the moment

NY declining stocks = 1.7 x advancing stocks
NY declining volume = 2.0 x advancing volume
bears took the ball, could they please keep the ball for more than a nano-minute, thank you

[Trades with cats]

Yet another move towards the magic power number, ES 2333.50. It was breached for a bit last night. Somehow if we go through on what has to be a low volume start of the holiday long weekend it shouldn't count as a conviction selloff. If we test and bounce a little many will write this weekend about a double bottom. Does retail have any money left to buy at the top?

[Al_Dente]

Just when you thought it was safe … the bears are coming out of hibernation...
Bloomberg reports “investors in Europe and the U.S. are rushing to hedge against declines.”
and a Credit Suisse index flashes a warning
http://www.zerohedge.com/news/2017-04-1 ... are-waking

[Cobra]

testing day low indeed, now let's see any buyers here.

[MrMiyagi]

US drops a big-ass bomb on ISIS in Afghanistan, market didn't like that, bombed on its own.