02/10/2021 Live Update

[JFR]

SPY 5. At a pivot level.

[Trades w 2 Cats]

Sorry forgot to add FOMC Chair Powell is on at 2 eastern

[JFR]

DIA, IWM, QQQ and SPY, all in the red today, pulling back. Scary? Nah. It's just the Wall of Worry on the way up. But the trend will break at some point.

[JFR]

Fastenal (FAST) having an active day. Good fundamentals.

[Al_Dente]

finally the options traders are buying puts, after two days of trying.
AD is dreadful

[Cobra]

Members only update at 12:12 pm
http://www.cobrasmarketview.com/2021/02 ... ay-update/

[JFR]

Dow 30. About even between the greens and the reds. DOW Holdings leading. CSCO trailing.

[Cobra]

51% chances of higher low here, beware.

[Trades w 2 Cats]

Really needs to retake the century mark and put it in the rear view mirror.

[Al_Dente]

Everything is fine, so what’s wrong with AMKBY ?
(Maersk,  global container shipping activities)

[BullBear52x]

No HH from here, bears are stronger, need to see new LL

[Al_Dente]

Powell
2pm
this should work:
https://www.youtube.com/watch?v=9niGyFKYL98

[BullBear52x]

/ES good volume over 1 million contracts before 2 pm est.

[BullBear52x]

Sell the rip will trigger once RSI <70 for daily setup. lower closed should do it.

[Trades w 2 Cats]

Hope Powell can explain taming inflation with zero interest rates like they are doing in Japan.

I was making mortgage loans when Volker tamed inflation so I apologize for my attitude.

[BullBear52x]

Last intraday sell failed. bulls turn from here.

[Trades w 2 Cats]

Blast off time for gap close.

[BullBear52x]

MA support will be a tell if the bulls want to take this back up. bears like me got no business to fight this atm.

[BullBear52x]

Now the question arise, is this breakout is for real? look at last time, it could take weeks, the previous high was the best line to follow. fundamentally, stimulus, inflation, universal income, student loan forgiveness are few of the reasons why this market will not going lower. Bears got the best chance to flip this back down from here but will it stick? remain to be seen.

[Trades w 2 Cats]

I am looking at this morning as a news event. Assuming they are right and Elon triggered the selling (hey he has done it before) then after the computers were done you would expect us to end up at about where it started. So we are left with a low volume melt up to continue until next week when the options flows stop supporting the market. (17th and after)

You know they really need to print a close at 4,000 to bring in the stimulus money. There are about a zillion IPOs on deck for money losing companies and all the existing execs need to sell what's left of their stocks before Joe and Bernie get going on the tax code.