11/08/2017 Live Update

[Cobra]

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need see more bars, up or down 50 to 50.

[Cobra]

members only update starts here: http://www.cobrasmarketview.com/2017/11 ... ay-update/

[Cobra]

testing yesterday's low, key time.

[Daniel]

Fresh 20day (ie 20-session) low on IWM this morning. Donchian sell signal.

[te_fern]

TICK is weak this morning, being below the MA lines and the MA lines pointing down!

[Cobra]

members only update at 10:00 am
http://www.cobrasmarketview.com/2017/11 ... ay-update/

[te_fern]

The levered smalls tested the bottom line of the box yesterday and then headed lower. Not looking good this morning....

[fehro]

VIX @ 20d/50d IWM at 50d SMA …etc.etc..

[te_fern]

On the flip side, if we are going to have a rally after these lows, it will soon be a good time to buy! Buyer beware!! LOL!

[Trades with cats]

Small Caps failed to get up to yesterday's close, look like they are going to define a range for this morning as they wait for more news on the DOA in Senate tax plan. Waiting to hear what John McCain and Ted Cruz want for their vote (policy wise)

[te_fern]

Watching yesterday's high and low for a breakout either way. These also line up with today's pivot points.....

[Trades with cats]

Watching yesterday's high and low for a breakout either way. These also line up with today's pivot points.....

Double topped at yesterday's close around 2:30 and 4:30 New York time this morning. Several attempts since then that have all fallen short. Asian session low of ES 2579.75 has not really been tested, but we did get sort of close to yesterday's cash session low of 2580.75 which, as you said is the S1 pivot. So really it is looking like a tight little range waiting for something to move it.

[Trades with cats]

And there go the small caps yet again making a lower low.

[Trades with cats]

Small caps move fast! Not at all like the (yawn) ES.

[Trades with cats]

In my opinion it is a classic oil market move today. Last week the hedge funds (our 28 year old history majors) were sitting on one of the largest long positions in history, I guess because of Saudi instability and some reduction in the world inventory surplus. So this morning the inventory estimates showed that this is a market system (not controlled by some hereditary ruler's whim) as the refiners are taking advantage of favorable prices. I am assuming you can count on Da Boyz in the Permian to do the same, but it will take a month or two for them to ramp up production. The evil joy for me in all this is that the hedge funds are usually the dumb money in this market, mostly because they trust the word of Saudi princes.

[Wallstreetrader]

Spx ihs last shoulder 30m. underway 2598 target

[fehro]

NDX nATH thanks .. big tech.. COMPQ lags… RUT/TRANS not pretty at all

[te_fern]

Longer term we better hope the 50 DMA line saves the levered smalls......

[Trades with cats]

Speaker Ryan says will pass tax bill by Thanksgiving Day. Wonder what the odds are on that.

[te_fern]

Speaker Ryan says will pass tax bill by Thanksgiving Day. Wonder what the odds are on that.

And if the house is having trouble passing it, we know the Senate will have trouble!