12/26/2017 Live Update

[Cobra]

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triangle, bias is a little up.

[Cobra]

members only update starts here: http://www.cobrasmarketview.com/2017/12 ... ay-update/

[Cobra]

members only update at 10:03 am
http://www.cobrasmarketview.com/2017/12 ... ay-update/

[Cobra]

Morning hourly hollow red bar.

[Cobra]

RSP actually is up so SPX down is mainly because of AAPL, nothing wrong.

[te_fern]

TICK doesn't look too bad...

[te_fern]

Watching the box for the levered smalls....

[fehro]

VIX and TLT both testing 50d SPX bearish wedge 60m.. LOD goes on SPX with Conviction, looking for -40 point drop to 2636ish Dec 8th open gap.. measured move

[te_fern]

Resistance line on the SPX...

[Daniel]

Up/Down vol on NYSE is bullish by about 2:1. On Naz, slightly bearish.

NYSE and Naz advancers are low to moderate-- but not far off their HOD.

[Daniel]

RSP actually is up so SPX down is mainly because of AAPL, nothing wrong.

AAPL currently hanging out around its daily VWAP, ca 170.50; just above there is the 5min 20MA and the Open, both around 170.75 or thereabouts.

[Al_Dente]

ALMANAC:
three trading days following the Christmas
http://jeffhirsch.tumblr.com/post/16883 ... storically

[Al_Dente]

REBALANCING ALERT:
This week managed portfolios face a well-documented, mandatory “Quarterly Portfolio Rebalancing,” wherein the managers under contract to maintain a fixed percentage in stocks/bonds (often 65/35 but it varies), must re-align their portfolios to satisfy their contractual mandate.
Since stocks have outperformed bonds this quarter, these managed portfolios will be selling stocks and buying bonds to regain their mandated balance. This will be happening until end-of-quarter Friday 12/29/17, but many managers wait until the last minute to accomplish this.
With the “Santa Rally” in force, stock buyers may overwhelm the forced selling (as they have in some previous quarters), so we’ll see …

[Daniel]

IWM and MDY both again green.

SMH rebounding strongly from its nearly 2% selloff. Back over 98.

[Al_Dente]

rotation update

[Daniel]

AAPL currently hanging out around its daily VWAP, ca 170.50; just above there is the 5min 20MA and the Open, both around 170.75 or thereabouts.

After dipping below VWAP a bit the past half hour, the above is still basically true. Hanging around. If/when this behemoth takes decisive action, it will move the overall markets.

[Cobra]

members only update at 12:00 pm
http://www.cobrasmarketview.com/2017/12 ... ay-update/

[Daniel]

REBALANCING ALERT

Indeed. TLT pure gap and go Uptrend Day, so far.

[Daniel]

Retail is obviously strong today, holiday weekend was full of Strong Sales news. But the homebuilders are also doing well so far.

XLF and KRE were market leaders at the Open, currently are laggards. KRE down 1%.

[Al_Dente]

JUNK needs to catch up, and the sooner the better
The compression on the HYG daily bolingers are tighter than they’ve been all year, meaning a BIG move is coming.
Bulls hope it’s up, as right now junk is underperforming spy and iwm, so credit risk is still a danger (junk hasn’t made a new high since October).