07/31/2020 Live Update

[Cobra]

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Kind of pennant overnight, so bias is a little up. Trend day possible, either up or down.

[Cobra]

Members only update starts here: http://www.cobrasmarketview.com/2020/07 ... ay-update/

[Heck]

GC.1 Dec Fut All Time High 2005.40

BULLYA

GLD Target + 34 %
From 182.13 to 244.46
+ 39 % Past year

ETFs Purchase 434 Tons of Gold in Second Quarter
According to the World Gold Council, it was the biggest quarterly inflow since the beginning of 2009.

SLV Target + 119 %
From 21.4 to 46.86
+ 48 % Past Year

Price of Silver Up 32% This Month
Despite recent gains, silver far below 2011 peak of $41, much less than all-time peak of $49 in 1980

[Heck]

red close ?

[BullBear52x]

Down now but lot of a support on ES. on Cash SPX, Range day since it's trading back inside of Wednesday still. will see support here first.

[Heck]

CVX Target - 100 %
From 83.57 to 0
- 6.1 % Dividend

- 30 % Past Year

writes down entire stake in Venezuela

[Heck]

When US gets COVID-19
ASX 200 and Nikkei drop

[BullBear52x]

Bullish consolidation phase with bearish bias. make sense? LOL. no bullish until MACD histogram turns positive. > 0

[BullBear52x]

Intraday, bulls failed breakout today, lower range is to be expected. or sideways messy range.

[Cobra]

Members only update at 10:07 am
http://www.cobrasmarketview.com/2020/07 ... ay-update/

[BullBear52x]

Going into next week, TRIN will tell if we will continue down, so far the black candle again here on the last resistance line of black candle.

[Cobra]

It's morning hourly filled black bar

[BullBear52x]

ES next strong support will be at 3223.5

[BullBear52x]

Right on the nose, no sign of a bottom but I think it's close. Greed kills. will give it 5 min. to see if more down or that's all she wrote for bears.

[BullBear52x]

Cash SPX, a new LL will looking toward yesterday's low as the next target, not likely but can not discount it either.

[Heck]

Two/Three ISEE Option Sentiment Indices = DOWN DOWN
Long Opening Index Undervalued PUTS Three Times calls = DOWN DOWN DOWN

[BullBear52x]

It's Friday, Yawn.......good weekend all, Peace!

[Cobra]

Testing EMA20, it's the bear's last chance to make a downtrend day here. It'd be mostly within the yesterday's range so even it's a downtrend day I'll treat it as a range day though.

[Mr. BachNut]

If we get a negative NYMO close today, the cycle flips from up to down.
We have a lower high lower low pattern and two negative closes in the works.

Price has been consolidating for almost three weeks.
The bottom edge of an ascending wedge has been back tested after the break.
Gaps in the consolidation have been getting closed.
A move to close the gap at SPX 3197.52 would likely trigger a mass of stops.
So, Bears have conditions for a play around here.
That said, consolidations can break either way.

I am still long a little R2K at the moment.
I may go flat for the weekend on a discretionary basis.
No short setups at the moment but maybe next week.

[Cobra]

The rebound means it's just a range day. The 1st range low was in. Now seeking range high.