04/17/2020 Live Update

[Cobra]

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No idea up or down from here. The overnight session looks like a bull flag though but it can change if the EMA20 now cannot hold, wait and see.

[JFR]

ES daily. Sitting on the EMA 20. Breakout? Breakdown? Stay in a base?

[JFR]

ES 5. Drifted down about 30 points in the last 3 hours.

[Cobra]

The members only update starts here: http://www.cobrasmarketview.com/2020/04 ... ay-update/

[BullBear52x]

Something is not right, market were way too exciting on this bullish environment?

[Al_Dente]

https://trends.google.com/trends/explor ... =reopening

[JFR]

ES 5. Sharp move down at the open.

[BullBear52x]

sell first,

[JFR]

Overnight gap up on ES, NQ, YM and RTY.

[BullBear52x]

Looking for support at 2828-30ish

[JFR]

Contradictions.

Dow 30. A sea of green, led by BA and DOW, frequent leaders. WMT and yesterday's leader UNH, trailing. It is crazy, Man.

Got stuff to do. Back later ...

[BullBear52x]

This will not sustain, look at TRIN, going fourth day above 1. thing that make you go Hmmm

[brokebybernacke2]

looks like a cure any day, steam train bull. buy dips forever. must change " it's the economy stupid" to "it's the stock market stupid". sp 10000 here we come.

[mattchessen]

https://trends.google.com/trends/explor ... =reopening

[Mr. BachNut]

NYMO cycle is still technically up and back into the upper turn zone.
We have a sequence of lower highs and lower lows as well as a negative divergence with price.
So, I think the high of the cycle is in at SPX 2818.57.
We probably have begun a down cycle, but the model requires negative NYMO or some stronger evidence to confirm.

Price still looks wedgie to me.
We are about to tag a descending 50 day MA, which may get a reaction.
There is also an up gap target nearby at 2882.24.
An OPEX surge to close that gap today would not surprise.
After that, maybe the bulls take a rest next week.

I am flat. Things have been funky for me with the high volatility.
Over last two weeks I have gotten off two long trades, but after cashing out scales, my runners breakeven stops have been getting hit... a little frustrating.
My response has been to do some day trading, which has been OK, but it takes a lot of attention and does weird stuff to my head.

[Cobra]

Members only update at 10:08 am
http://www.cobrasmarketview.com/2020/04 ... ay-update/

[BullBear52x]

I am not in a sky is falling camp, but we need at the least a pull back to daily mid BB, this is what $2T can do I guess. Oh I heard FED will inject $500 mil/day to help small business now, Money everywhere folks.

[Cobra]

Probably will touch the EMA20 then we'll see whether today is a downtrend day or not (not typo).

[Al_Dente]

Second panel: Higher Highs are getting weaker, SPX potential double top ... starting to wedge
but a gap is a gap

[BullBear52x]

Flashing a reversal day, bulls need to do better than this.