Cobra's Market View

XLY fresh hod, and above multi-week resistance.

Dabbling in the Bios.....

Sen Warren is up as a video clip at CNBC. It was a great folksy analogy. Unfortunately she used it after calling the Fed Chair a liar to his face on the bank capital requirements and claimed the FDIC was with her, not him. I see future ink on this one.

Blew right thru the R2 pivot....

Huge relative volume spike breaking through the Tokyo high ( ES 2809). Sellers re-grouping around 2813 and 2815.

stops blowing |||
now i am expeting more upside 2887 my target!

pour TRANsports weaker still <20d/50d

little nibble short

resistance piling up at ES 2815 if bulls can move through 2813. My charts make this the 3rd pull back but the monster bar getting over yesterday's overnight high has us waaay above EMA and VWAP.

Wallstreetrader wrote:stops blowing |||
now i am expeting more upside 2887 my target!

personally, prefer a pullback here to extend the bull. dont want bull to end. quick rise to 2900 worries me a bit with apple at eom.

This pullback still inside the box drawn by the pullback at 2806 ES, both for drop and time. (11:20 to 11:46 eastern for my box).

Knocking on the door. If they get through next obvious resistance still sitting at ES 2815. Sellers at 2813 just moved up a couple of ticks, didn't pull their orders, looks like this isn't over yet.

AMZN
Coresight Research had forecast sales to reach at minimum $3.4 billion globally during Prime Day, which would set a new record and surpass Amazon's Cyber Monday sales. Helping the company reach this target is a longer window for deals this year — 36 hours straight.

Despite such a messy start Monday, an Amazon spokeswoman said in an email to CNBC Tuesday morning that "Prime Day sales in the US so far are bigger than ever – in fact, in the first ten hours Prime Day grew even faster, year-over-year, than the first ten hours last year." (Last year's Prime Day kicked off at 9 p.m. ET.)

Back into the box. Close to EMA on 5 minute. I do not have Fehro's courage on a trend day, waiting for it to go out the other side of the EMA.

That big green bar is vulnerable to a whoosh down move. Yesterday high was the Asian session. I think market needs to close above that level or Cobra will have a difficult task tonight explaining what it means.
Anyway, putting the flag on the pole for sure, hard to see any more up today.

Today is Target day and their system is working.

Anybody used Wall Marts new (to us) internet order robot at the front of the store. Automatically gives you your stuff. Big improvement. Also Both Fred Meyer (Kroger) and Wall Mart do internet grocery orders and bring the stuff to your car. Very popular with the working Mom's who have car seat riders. As opposed to the Amazon home delivery where your groceries sit on your front porch for hours.

Interesting to me that Wall Mart was considered evil because they were anti union, but they have figured out virtue signalling while Amazon is rapidly becoming the great satan.

going to be away from keyboard, took my profits...

ESTIMATE = guesstimate
Blmbrg guy quotes a reputable Estimator firm: AMZN Prime Day sales are 90% better than last year, despite “glitches”.
More countries, longer time, more discounts

OFF TOPIC:
Note that PZZA has been in the shitcan (below 200ma) since early last year
So just shut up papa

EARNINGS REPORTS
7/18, tomorrow: MS, USB before the open…. AXP, EBAY, IBM after the close