Cobra's Market View

No man's land short termOn money flow, bulls looks out of gas.

bias still is up.

Sometimes something happens after the commodities market RTH end, guess not today. Next up Power Hour and the then the 3:30 ramp. Be interested to see what the action is around the close. No idea how "bad" the number has to be tomorrow to trash the November December rate hike. If it is bad enough to tank the dollar I would guess gold rater than oil just because of recent price action. I will be setting my alarm so I don't miss the "show".

Here is how the punters are betting on the jobs event.

Here is the verbiage if you are interested-http://www.zerohedge.com/news/2016-10-0 ... -hike-hope

Shaishen wrote:

DellGriffith wrote:Last 3 months are starting to look more like a broad head and shoulders pattern on Daily SPY

if resolving as such it would only result in a ~ 10% drop as per ta rules, nothing really earth-shattering.
A Trump election could extend the down move with more vehemence which would be a generational buying opp imo.
If Hillary is the chosen one markets will explode up leaving no chance for the regular folks to BTFD.

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That's the conventional wisdom but you never know. The day after the election, investors may go "Oh crap the republicans have the House still - gridlock!" and everything sells off.

DellGriffith wrote:

Shaishen wrote:

DellGriffith wrote:Last 3 months are starting to look more like a broad head and shoulders pattern on Daily SPY

if resolving as such it would only result in a ~ 10% drop as per ta rules, nothing really earth-shattering.
A Trump election could extend the down move with more vehemence which would be a generational buying opp imo.
If Hillary is the chosen one markets will explode up leaving no chance for the regular folks to BTFD.

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That's the conventional wisdom but you never know. The day after the election, investors may go "Oh crap the republicans have the House still - gridlock!" and everything sells off.

Hillary wins initial pop followed by crash.. as Wall St has her in the back pocket.. and will expect a bail out. Trump wins initial sell off.. followed by massive multi year rally.. imho. I know crazy talk.

Bullish Percentages falling:

http://stockcharts.com/freecharts/candl ... BPFINA|B|0

long term GBP/USD and GBP/EURO.. "expecting" the GBP to weaken against the USdollar.. but the Euro and GBP may soon start to head in opposite directions.. fwiw.. GBP/EUR trying to hammer the weekly off possible support. Brexit deal done.. looking for huge up in GBP.

Time for the 3:30 ramp.

Yesterday's high would be a nice target but I don't think there is anaywhere near that much in the tank.

fehro wrote:DXY nears major downtrend.. "could" be explosive up… mind your oil/golds tomorrow / over the weekend!

relentless.. DXY.. picking up some USO puts oil is laggin' dollar move.

GLD update from earlier in the week.. possible support here.. next level .. May 2015 highs 117.96ish horizontal support near 50w SMA 117.30.. should this not hold, and not bounce. <200d SMA 119.84
oh.. target tagged

Another dud. Ge, did I mean the ramp or the whole day

well, guess that's it for today. Friday tomorrow has been bear friendly recently although NFP day has been up 4 of the last 5. 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

Trades with cats wrote:Another dud. Ge, did I mean the ramp or the whole day

If you take out the Constancio move ES offered a 4 point range ..

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There is your answer for tomarrow. New high for the day after regular hours, just 1 point short of yesterday. Clearly getting up there was important to somebody, they just didn't want to carry the whole market with them.

Florida evacuation all out. Oil up. Along with another meeting between Russia and SA on oil cuts.