08/24/2017 Live Update

[Cobra]

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now let's see if bears can make a lower high here therefore declare the rebound was over. I say 50% chances.

[Cobra]

members only update starts here: http://www.cobrasmarketview.com/2017/08 ... ay-update/

[Trades with cats]

Oil- And here we have the uncontrollable random force of nature shutting down the heart of the import, production and refining reigon for a couple of days or several weeks, too soon to tell.
http://www.zerohedge.com/news/2017-08-24/hurrican-harvey-set-wreak-havoc-texas-crude-production-and-refining-capacity

[brokebybernacke2]

market feels ripe for a decent move..

[fehro]

SPX takes out 2440ish yLOD -- looking to Tues' 2434-2424 open gap

[brokebybernacke2]

SPX takes out 2440ish yLOD (2436) -- looking to Tues' 2434-2424 open gap

careful, vix not confirming slippage ...yet

[Al_Dente]

Yesterday’s July New Home Sales collapsed down -9.4% MoM vs consensus +0.5%
10 am ET today = Existing Home Sales for July. Consensus is +5.57 million units for July, or up +0.9% MoM

[Trades with cats]

I was not expecting that. Thought yesterday's VWAP would hold, looking at consolidation forming a base for up. Cobra is of course right, things just may have changed. London/Frankfurt bull move erased in 30 minutes. Escalator up, elevator down.

[Cobra]

members only update at 10:00 am
http://www.cobrasmarketview.com/2017/08 ... ay-update/

[Trades with cats]

On twitter the question of the hour, can anyone remember a sell off going into a central banker event?

[fehro]

SPX takes out 2440ish yLOD (2436) -- looking to Tues' 2434-2424 open gap

careful, vix not confirming slippage ...yet

be very careful here.. key time it goes.. potential 2405 SPX /CL hit hard <20w SMA already <20d/200d/50w

[Trades with cats]

What ever that was it was world wide. http://finviz.com/futures_charts.ashx?t=INDICES&p=m5
Nice move up on the VIX as well. So far not a good day for all those volatility sellers.

[johnnywa]

Why are small caps refusing to go down

[Trades with cats]

Why are small caps refusing to go down

They already did. Weakest major average.Never rallied as far as the large caps last week. Major moves down have only seen 50% retrace while large caps have been at close to 75%. IF market is putting in a bottom (Go Central Bankers !!!) they have the most ground to recover.

[brokebybernacke2]

Why are small caps refusing to go down

They already did. Weakest major average.Never rallied as far as the large caps last week. Major moves down have only seen 50% retrace while large caps have been at close to 75%. IF market is putting in a bottom (Go Central Bankers !!!) they have the most ground to recover.

yep, yellen and draghi determine the next good move...

[Trades with cats]

ES Yesterday's VWAP (2440) doing a better job as a strong attractor this time. Market barely paused here earlier.

[Trades with cats]

Weather service saying Harvey is growing fast. Sounding like it is time to get off those Galveston beaches!

[Trades with cats]

Found the reason for the rocky market today. It is a 200 year anniversary.

[brokebybernacke2]

higher low sp ? smallies up nearly .5 %...hmmm

[Cobra]

100% mm then this bear may still have legs, otherwise going nowhere.