05/11/2020 Live Update

[JFR]

SPY 5. Back down beneath the EMA 20.

[ccash04]

Seems like a sell day outside of Tech, AAPL, AMZN, NFLX, FB and GOOG doing the heavy lifting.

Basically sell everything to buy those 5-10 names seems to be the theme.

Still seems to be the theme today.

LQD, JNK, HYG all down today yet stocks still levitated along with Trin being over 1.. either setting up for a sell off late day or the above is true just get into the biggest tech names and sell everything else.

[Cobra]

Rebound as expected. Now since it's the 2nd test of the day high, so time to watch potential trend reversal unless the rebound makes decisive new day high. Not saying it'll reverse, just a reminder what to watch: A big bear bar would be a bad sign.

[jademann]

Seems to me that they intend to send QQQ to the all time high.
Who am I to stand in their way, I will watch with amusement from the sidelines for the next few weeks.
FLAT.

[te_fern]

Sure seems we are in this triangle....

[Cobra]

That's the trend reversal I talked about. Just a reminder. The close is near now so hard to say.

[Cobra]

Members only update at 3:50 pm
http://www.cobrasmarketview.com/2020/05 ... ay-update/

[Cobra]

Well, guess that's it for today. Here's what Tuesday tomorrow looks like: https://stockcharts.com/public/1684859/ ... /533449374

Thank you guys, I'll see you in another thread soon.

Before the close, please take a little time to vote for me, thanks: https://stockcharts.com/public/1684859/ ... /533449374

[JFR]

SPY 5. Session finishes at Friday's close.