11/03/2022 Live Update

[Cobra]

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Another form of 3 push down so it's the bulls' best chance to rebound here.

[Cobra]

Members only update at 10:06 am
http://www.cobrasmarketview.com/2022/11 ... ay-update/

[Al_Dente]

Stockcharts has SPX and some indicators blank yesterday
Is it just me?

[jaguar6992]

Stockcharts has SPX and some indicators blank yesterday
Is it just me?

Not just you - see the same issue.

[Serenity]

Stockcharts has SPX and some indicators blank yesterday
Is it just me?

I did not have any issues yesterday. When there is massive selling, it goes in pause mode sometimes.

[merryme]

Intermediate Term view with $SPX 3 x 1%.

Analysis from weekend shown on prior chart. Resistance was hit. No surprise. Compare charts and see where the B = November printed.

Now we have a retest of the 45 degree breakthrough and patience is required to determine if panic will set in.

[Al_Dente]

Stockcharts has SPX and some indicators blank yesterday
Is it just me?

Not just you - see the same issue.

Thanks Boss, it appears it is being gradually fixed

[merryme]

This is the chart that i will be watching from a Wyckoff perspective. We need to wait for Phase B to play out and see if we get a test of the low and a rally through the whole structure. It takes time to play out. Or it goes south, and we wait for the next structure.

[Cobra]

EMA20 now is the best place for bears to make another leg down. So far looks like a range day even an uptrend day.

[Al_Dente]

Let's say that 28 Oct and 1 Nov formed a DOUBLE TOP... it did
Today it already met the target (red boxes)
Cobra called it a H&S... same target met
Oy

[marcueus2]

To be honest us 2y bonds just show what will in coming days happen with equities Soon 3500 on spx would be strong resistance
https://stooq.pl/q/?s=2usy.b&c=3m&t=c&a=lg&b=1

[Daniel]

There once was a superb tactician who posted on this Board, by the name of Dow Trader, who used to always remark "keep your eye on the dollar". And that was at a time when the 10-day intermarket correlations btw some measure of the Dollar Index (currency basket) and the risk asset universe wasn't so starkly and consistently inverse, as it is now.

Using UUP as the measure, it's holding the Buy signal generated by indicator-signals triggering at the same time as yesterday's successful test of an upsloping 50day sma. It is now above the 5,20,and 50day sma. It's currently holding its opening up gap--although right now it's below the open.

If this buy signal makes first target it would imply UUP would be trading around 30.75, since that's both a prior local HI and the projected area of the upper Bollinger Band. That might also coincide with QQQ testing its yearly low, because of the strong inverse correlations.

DXY. UUP. (Possibly even shorting the dollar-inverse UDN, if holding for longer periods.)

[Cobra]

Members only update at 12:12 pm
http://www.cobrasmarketview.com/2022/11 ... ay-update/

[merryme]

Looking thru a scan that shows the disasters of the week...
ROG

[Trades w 2 Cats]

Twitter feed today showing SKEW way down as hedge funds monetize their options.

All these excellent ideas based on what happened in the past need to be viewed in context. Today's context is very different with all the derivative insurance the big boys are using. Still the one thing that always counts,eventually, is earnings and they continue to decline. At the same time with rates on short term debt looking attractive I don't see why a professional money manager would pay last years multiples for declining earnings.

And now for the tech titans they have greatly slashed the pay of their better people because those stock options are not going to make the payments on that house in Palo Alto or Lake Washington. This entire thing is turning into a dumpster fire and the die hards who want to buy the dip because the central bankers are pulling back on the gasoline they were dumping on the fire are nuts. As a wit said many of these professional traders were in eighth grade the last time we had a down market without Fed support. They have zero emotional understanding of what is going on.

[Al_Dente]

WMT
Walmart Rolls Back Thanksgiving Food To 2021 Prices
"This year's meal at last year's price"
"... turkey, ham, potatoes and stuffing ... convenience items like ready-to-heat mac and cheese or freshly made pumpkin pie..."
"One of the most significant rollbacks was 50% off whole turkeys."
https://www.zerohedge.com/markets/infla ... 021-prices

[JFR]

ES daily. 4th day of backsliding. Down beneath the EMA 20.

[Trades w 2 Cats]

Count looks good until that C wave. Kind of ended too soon.

[JFR]

SPY 1 minute. Point and Figure.

Elevator down. Escalator up.

[JFR]

Alternatives.

Very little movement.

UUP up a bit. USO down a bit.