Cobra's Market View

Oopsie on an uptrend day? SPY not able to regain day's high

rebound might fail. today is no different: up and up in the morning then going nowhere the rest of the day.

Cobra wrote:rebound might fail. today is no different: up and up in the morning then going nowhere the rest of the day.

Are Tuesdays Bullish or still "turnaround"?

It would be great if we could get a gap fill today, but it might wait until "Turnaround Tuesday" ... (or next week?).

HAPPY HOUR

Difficult to trade ES or SPY with this kind of flatness. Astounding how Bullish Percentages are not moving a bit.

http://stockcharts.com/freecharts/candl ... ,$BPENER|B|

uempel wrote:Difficult to trade ES or SPY with this kind of flatness. Astounding how Bullish Percentages are not moving a bit.

http://stockcharts.com/freecharts/candl ... ,$BPENER|B|

Difficult! Flattest market in a generation. I used to think I was clever because I traded both up and down. Now to me clever would be someone who can make money on a flat line without risking everything. The gamma hedgers do well in this environment (trading the flat line) until the market moves and we see that they really were running in front of a steam roller to pick up a nickel.

Looks like Goldman ran out of buyback money for today. Masterful use of the oil jawbone on their part this morning to jump start the move. Too bad there was no second stage ignition.

Goldman is underwriting all the Saudi bond issues, underwriting the ARAMCO IPO and places a great deal of the buyback money for corporate clients. I am sure they have appropriate separation between the various parts of the company so that they don't happen to use one client's money to further the case of another while trading against both and collecting fees from both because, as they themselves say they are just doing God's work.

Someone found some money to invest!

well, guess that's it for today. Tuesday tomorrow has been mixed recently. thank you guys, I'll see you tomorrow.

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