12/20/2018 Live Update

[Cobra]

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no idea up or down from here, need see more bars.

[Cobra]

members only update starts here: http://www.cobrasmarketview.com/2018/12 ... ay-update/

[JFR]

The market opens up down a bit on ES and YM. Less on NQ and nada on IWM. NQ has filled the small overnight gap.

[JFR]

S&P500 leaders in down % on opening.

[JFR]

S&P500 leaders in % up during the opening few minutes. I am not biting. Ha ha

[te_fern]

Hanging around yesterday's low. Will we get a bounce soon???

[JFR]

NQ. Choppy ride. Back in a few minutes.

[te_fern]

TICK looks a little oversold, needs some consolidation.....

[Trades with cats]

Interesting open so far.

[Trades with cats]

5th try at that Opening Range High.

[Cobra]

members only update at 10:05 am
http://www.cobrasmarketview.com/2018/12 ... ay-update/

[Trades with cats]

I am staring at the overnight double top.

Side note, who would have thought a year or two ago that a 6,000 tick chart would be generating a bar every 2 minutes more or less.

[Trades with cats]

Some doom porn peddler on twitter just put up a small cap chart that includes 2017. Do not look if you want to maintain a bull bias.

[QED]

Some doom porn peddler on twitter just put up a small cap chart that includes 2017. Do not look if you want to maintain a bull bias.

https://pbs.twimg.com/media/Du3Z8lLWkAAV9Hj.jpg

.

[te_fern]

Slow day so far, no set ups for potential trades.....

[Trades with cats]

Heading back to VWAP. Year end rally suppose to start on Monday. Nobody wants to get long yet, I am thinking because of the 4 x witch tomorrow.

[K447]

Some doom porn peddler on twitter just put up a small cap chart that includes 2017. Do not look if you want to maintain a bull bias.

Per the TWC linked chart above;

A full reset to circa January 2017 levels seems possible. Small caps are ahead of the curve in this regard, but not quite done yet.

Intermediate bounces aside, the abyss beckons.

Have a look at various major charts going back ten years, and then look at Fib retracement levels from 2015 lows to 2018 highs. 38.2% retrace is circa 2017 Jan levels.

And for overshoot fun, the 50% retrace levels

[Cobra]

boring range day, guess it'll be like this till the new year. the selling was over and no buying as well.

[Mr. BachNut]

The September 2017 SPX gap at 2,461.43 approaches.
This was a huge gap open of 13+ handles on September 11, 2017. Yup... 9/11.
It sure looks like Mr. Market wants to finally get that thing closed, which would wrap up a big piece of unfinished technical business.

However, NYMO looks like it is trying to base here at the Turn Zone.
So, a pop into year-end could be in store before the gap can be filled. We shall see.
The middle keltner band is approaching the 2017 close, and there is a gap target around 2,650.
A big squeeze job could get to that neighborhood, but I don't know. Just imagining.

I am flat and heading away for vacation next week.
If I get an entry and happen to be online, I may long a little SPY (very small position requiring no attention) from the road.
If not, new business will have to wait until next year.

Happy holidays everybody.

[Al_Dente]

Breadth: The last time the “Percent Above 20ma” got this oversold, price bounced for a couple/few days, then failed.
Daily, as of yesterday’s close (eod)