07/09/2019 Live Update

[Cobra]

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no idea up or down from here. No bottom pattern yet though.

[Cobra]

members only update starts here: http://www.cobrasmarketview.com/2019/07 ... ve-update/

[Cobra]

members only update at 10:05 am
http://www.cobrasmarketview.com/2019/07 ... ve-update/

[Cobra]

it's a morning hourly hollow red.

[Cobra]

breakout here then it could be an uptrend day. rejected here then it could be range day, I won't count on downtrend day because bears suck. For now breakout looks more likely.

[BullBear52x]

Bears are not so strong but internals are still with them. sell resistance line here.

[BullBear52x]

/ES, support level from last peak, it might held up today.

[BullBear52x]

bigger picture: $NYMO and $NAMO could head back into a red zone today if bulls loss control intraday today. I am on the seller side today.

[Trades with cats]

market deciding to follow the mid channel. Several big pullbacks make for small opportunities . Waiting to see if we get an inverted pattern and drop after the Euro time zone goers home or if it tries to recover into yesterdays range, since the Asian and Euro overnight sessions sell off has now been reversed.

Also hope springs eternal that all the Fed jawboning will spark the last of the unicorns to commit all their margin. Would be interesting to chart out Fed speakers volume over time to see what it correlates to.

[BullBear52x]

Cash SPX fib.

[Cobra]

members only update at 11:56 am
http://www.cobrasmarketview.com/2019/07 ... ve-update/

[Trades with cats]

2nd test of the ON High is still an open question.

[Cobra]

I don't read it as double top, I read it as ascending triangle so bias is up to me.

[Trades with cats]

Jay Powell to swing traders "Well Punk, do you feel lucky today". With apologies to Inspector Harry Callahan.

Translation- will his congressional testimony give the market what they want or will he hedge and talk about not yet on rate cuts.

[Al_Dente]

%

[Al_Dente]

"TYPICAL" JULY TRADING
https://jeffhirsch.tumblr.com/post/1861 ... y-weakness

[BullBear52x]

Price pays, I am bearish bias as long as we trade under this gap resistance level.

[Trades with cats]

Chair Waters is set to gavel the testimony at 10 AM eastern. IO am guessing Fed will drop the embargo on print version of opening statement at that time.

[Cobra]

looks more and more like an ascending triangle.

[BullBear52x]

Wishful thinking, since we don't have new HOD coupled with last two buys, time to bid down since no buyers on HH.