08/01/2018 Live Update

[Cobra]

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double top or not, wait and see.

[Cobra]

members only update starts here: http://www.cobrasmarketview.com/2018/08 ... ay-update/

[brokebybernacke2]

Big fruit completely above the daily bolly...

[Al_Dente]

..........

[Cobra]

members only update at 10:05 am
http://www.cobrasmarketview.com/2018/08 ... ay-update/

[Trades with cats]

Difficult to find any trades this morning.

[Al_Dente]

10 yr yield
TNX
hit 3.016% this morning

[1der]

SPY PBar update:
Last evening at least four PBars - 279.95, 280.80. 281.19 twice, 281.33 and 282.30
This morning - 280.98 and 281.71 (already hit this morning)

Older prior filled PBar levels at 282.00 and 282.11. Open above is 283.00 and 284.20 which was just missed by .04
3 min chart

2 Hour Chart

Hour chart

[Cobra]

testing yesterday's high, key time.

[MrMiyagi]

testing yesterday's high, key time.

Just in time for EIA Inventory.

[Al_Dente]

[save for later]
More on BUYBACKS:
“A new report finds that big companies could have given their workers thousands of dollars’ worth of raises with the money they spent on their own shares … Companies are working overtime to make their owners richer in the short term.”
https://www.theatlantic.com/business/ar ... my/566387/

[Al_Dente]

SEASONALITY:
$SPX: August is 50/50
$RUT: August is 50/50
$NDX: August is 75% (75% of augusts closed higher)
[scroll to the bottom of this link, and type in your favorite symbol]
https://stockcharts.com/freecharts/seas ... X&compare=

[MrMiyagi]

testing yesterday's high, key time.

Just in time for EIA Inventory.

eieio

[Al_Dente]

Today
First trading day of the month
http://jeffhirsch.tumblr.com/post/17645 ... t-so-great

[1der]

[save for later]
More on BUYBACKS:
“A new report finds that big companies could have given their workers thousands of dollars’ worth of raises with the money they spent on their own shares … Companies are working overtime to make their owners richer in the short term.”
https://www.theatlantic.com/business/ar ... my/566387/

And now the Treasury considering a secondary Tax Cut via "Treasury initiated" modification to calculating Capital Gain Basis to allow for inflation adjustment which would be a significant tax advantage to those who make $$ via Capital Gains. What could go wrong???

[Al_Dente]

...........And now the Treasury considering a secondary Tax Cut via "Treasury initiated" modification to calculating Capital Gain Basis to allow for inflation adjustment which would be a significant tax advantage to those who make $$ via Capital Gains. What could go wrong???

[Al_Dente]

SPY holdings, per the issuer's website
[ADD: those tech weightings add up to 15% of SPY]

[MrMiyagi]

Yeah.. gonna be see-saw until FOMC, then maybe something. Probably a drop.

Auto sector doing crappy as July vehicle sales in the US are below expectations and SAAR is now tracking 16.8M vs 17.2M in June.

[Trades with cats]

Auto sector chant "Hurricanes, Hurricanes"

[Trades with cats]

Seriously, we are finally moving into carmageddon. Note how it is pretty much in sync with the peak in housing and the bond market getting shaky. I always assumed the apparachnicks in Washington could hold anything together long enough for mid term voting but it is starting to look like this time they are in trouble.