Back to www.cobrasmarketview.com

06/29/2020 Live Update

User avatar
Al_Dente
Posts: 28535
Joined: Thu Jul 21, 2011 2:29 pm

Re: 06/29/2020 Live Update

Post by Al_Dente »

Inexplicably, SMALLS have been leading all day
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
User avatar
JFR
Posts: 10122
Joined: Sun Dec 02, 2012 7:24 pm

Re: 06/29/2020 Live Update

Post by JFR »

QQQ daily, Point and Figure.

2020-06-29_1103.png
Charts posted are not recommendations. They are just a sharing of information.
User avatar
BullBear52x
Posts: 29511
Joined: Tue Feb 22, 2011 3:47 pm

Re: 06/29/2020 Live Update

Post by BullBear52x »

bullish reversal but no daily HH, so, bearish bias to continue. good bullish sign but one day doesn't make a trend.
Attachments
2.PNG
My comments are for entertainment/educational purpose only. NOT a trade advice.
User avatar
BullBear52x
Posts: 29511
Joined: Tue Feb 22, 2011 3:47 pm

Re: 06/29/2020 Live Update

Post by BullBear52x »

I am selling now.
My comments are for entertainment/educational purpose only. NOT a trade advice.
User avatar
BullBear52x
Posts: 29511
Joined: Tue Feb 22, 2011 3:47 pm

Re: 06/29/2020 Live Update

Post by BullBear52x »

Inside day, bullish piercing all the way to 61.8% but looks like it stalled there. sell day for me until we can regain back above 5 DMA
Attachments
1.PNG
My comments are for entertainment/educational purpose only. NOT a trade advice.
User avatar
BullBear52x
Posts: 29511
Joined: Tue Feb 22, 2011 3:47 pm

Re: 06/29/2020 Live Update

Post by BullBear52x »

Al_Dente wrote:'The Fed on Sunday identified 794 companies whose bonds it will be buying directly to support the market for investment-grade corporate debt. Apple, Verizon, AT&T, Toyota, Volkswagen and Daimler accounted for 10% of debt the Fed is supporting.' [WSJ]
HYG is still pointing south boss.
Attachments
1.PNG
My comments are for entertainment/educational purpose only. NOT a trade advice.
User avatar
Al_Dente
Posts: 28535
Joined: Thu Jul 21, 2011 2:29 pm

Re: 06/29/2020 Live Update

Post by Al_Dente »

BullBear52x wrote:
Al_Dente wrote:'The Fed on Sunday identified 794 companies whose bonds it will be buying directly to support the market for investment-grade corporate debt. Apple, Verizon, AT&T, Toyota, Volkswagen and Daimler accounted for 10% of debt the Fed is supporting.' [WSJ]
HYG is still pointing south boss.
Hi Boss :D
""" support the market for investment-grade corporate"""
See LQD (and TLT too)
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
User avatar
BullBear52x
Posts: 29511
Joined: Tue Feb 22, 2011 3:47 pm

Re: 06/29/2020 Live Update

Post by BullBear52x »

Al_Dente wrote:
BullBear52x wrote:
Al_Dente wrote:'The Fed on Sunday identified 794 companies whose bonds it will be buying directly to support the market for investment-grade corporate debt. Apple, Verizon, AT&T, Toyota, Volkswagen and Daimler accounted for 10% of debt the Fed is supporting.' [WSJ]
HYG is still pointing south boss.
Hi Boss :D
""" support the market for investment-grade corporate"""
See LQD (and TLT too)
Soft landing control, but people still loading up on these turtle fund.
Attachments
2.PNG
1.PNG
My comments are for entertainment/educational purpose only. NOT a trade advice.
User avatar
Al_Dente
Posts: 28535
Joined: Thu Jul 21, 2011 2:29 pm

Re: 06/29/2020 Live Update

Post by Al_Dente »

.............
Last edited by Al_Dente on Mon Jun 29, 2020 3:18 pm, edited 1 time in total.
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
User avatar
Al_Dente
Posts: 28535
Joined: Thu Jul 21, 2011 2:29 pm

Re: 06/29/2020 Live Update

Post by Al_Dente »

THESE ARE SOME OF THE BIGGEST 794 CORPORATIONS ON THE FED’s GIFT LIST
https://zh-prod-1cc738ca-7d3b-4a72-b792 ... k=OiNyOO8T
“The PMCCF [Primary Market Corporate Credit Facility] is operational and available for use beginning June 29…. by standing ready to provide credit to qualifying issuers of corporate bonds in periods of stress, the PMCCF serves as a funding backstop, supporting market liquidity and the availability of credit for large employers."
[per the NY Fed]

zh: In other words, if "large employers" - who at this point can sell junk bonds at about 4% yields - need a few hundred million in taxpayer-guaranteed funds, they just need to make a phone call to the NY Fed and the central bank will promptly wire them the funds, with its blessings. And what happens if the company suffers devastating losses and the loans are impaired? Why the Treasury ends up getting wiped out on its investment. And by Treasury we of course mean taxpayers.
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
User avatar
BullBear52x
Posts: 29511
Joined: Tue Feb 22, 2011 3:47 pm

Re: 06/29/2020 Live Update

Post by BullBear52x »

for price action today, so far bulls lost morning high and about to tank back under 38.2%. bulls need to close higher than 3044 at the minimum or I would like to see >61.8% to say there is something under their sleeves for tomorrow.
Attachments
1.PNG
My comments are for entertainment/educational purpose only. NOT a trade advice.
User avatar
Cobra
Site Admin
Posts: 58334
Joined: Sat Feb 12, 2011 10:29 pm

Re: 06/29/2020 Live Update

Post by Cobra »


Like to read more of my commentaries? Please subscribe my Daily Market Report.
Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.
User avatar
Al_Dente
Posts: 28535
Joined: Thu Jul 21, 2011 2:29 pm

Re: 06/29/2020 Live Update

Post by Al_Dente »

'Combined, Facebook, Amazon, Netflix, Alphabet, Apple and Microsoft ... make up 48% of the Nasdaq 100.'
[Bloomberg]
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
User avatar
BullBear52x
Posts: 29511
Joined: Tue Feb 22, 2011 3:47 pm

Re: 06/29/2020 Live Update

Post by BullBear52x »

ES 3020 is still a key line, any one trading overnight it is DE LINE to pay attention to.
My comments are for entertainment/educational purpose only. NOT a trade advice.
User avatar
BullBear52x
Posts: 29511
Joined: Tue Feb 22, 2011 3:47 pm

Re: 06/29/2020 Live Update

Post by BullBear52x »

On the Monthly candle, Gravestone Doji is in the making for this month? not very bullish folks.
Attachments
2.PNG
2.PNG (7.03 KiB) Viewed 2488 times
1.PNG
Last edited by BullBear52x on Mon Jun 29, 2020 3:56 pm, edited 2 times in total.
My comments are for entertainment/educational purpose only. NOT a trade advice.
User avatar
Cobra
Site Admin
Posts: 58334
Joined: Sat Feb 12, 2011 10:29 pm

Re: 06/29/2020 Live Update

Post by Cobra »


Like to read more of my commentaries? Please subscribe my Daily Market Report.
Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.
User avatar
Cobra
Site Admin
Posts: 58334
Joined: Sat Feb 12, 2011 10:29 pm

Re: 06/29/2020 Live Update

Post by 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

Like to read more of my commentaries? Please subscribe my Daily Market Report.
Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.
User avatar
JFR
Posts: 10122
Joined: Sun Dec 02, 2012 7:24 pm

Re: 06/29/2020 Live Update

Post by JFR »

SPY 5. Up 4.51 for the day. "That's all, Folks."

2020-06-29_1300.png
Charts posted are not recommendations. They are just a sharing of information.
Heck
Posts: 2535
Joined: Thu Nov 15, 2012 4:56 pm
Location: Lake Tahoe, Nevada

Re: 06/29/2020 Live Update

Post by Heck »

DIA SELLING < 255.25
QQQ SELLING < 243.23
SPY SELLING < 304.86
AH
User avatar
Al_Dente
Posts: 28535
Joined: Thu Jul 21, 2011 2:29 pm

Re: 06/29/2020 Live Update

Post by Al_Dente »

Text of Powell's prepared testimony for tomorrow:
https://www.federalreserve.gov/newseven ... 00630a.htm
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
Post Reply