02/14/2017 Live Update

[Cobra]

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generally the pullback should be bought.

[Cobra]

members only update starts here: http://www.cobrasmarketview.com/2017/02 ... ay-update/

[BullBear52x]

There were a reversal at EOD yesterday.

[uempel]

RSI on yesterday's SPX 120 min suggests that a small correction in February is very likely. As to the timing - in July/August 2016 a small correction occurred 3 weeks after RSI peak and the market lost only 30 handles. The other corrections came sooner but were also in the range of 20/30 handles.

[BullBear52x]

in a next day or two we should fill the lower gap. I am on the southbound train atm.

[Trades with cats]

Time to refill your coffee and grab a croissant, showtime in about 10 minutes.

[Al_Dente]

FED’s Daniel Tarullo resigned unexpectedly “on or around April 5, 2017”

[Al_Dente]

please post if u have a LIVE link to Yellen

[uempel]

SPX 1 minute with channel and MA 390:

[Al_Dente]

please post if u have a LIVE link to Yellen

http://www.zerohedge.com/news/2017-02-1 ... -live-feed

[Trades with cats]

http://www.zerohedge.com/news/2017-02-1 ... -live-feed
Has embedded Senate Committee channel live link

[Cobra]

members only update at 10:05 am
http://www.cobrasmarketview.com/2017/02 ... ay-update/

[Trades with cats]

Her prepared remarks were notable mainly for their brevity and were in line with expectations that the Fed chief would leave the door open for a policy move as soon as March but not signal that such a move was a done deal. Financial markets think the central bank will next raise rates in June but some regional Fed presidents have been agitating for a rate hike to be on the table at the next meeting on March 13-14.

Yellen did acknowledge that there is a risk of the Fed waiting too long to raise rates. She said it would be “unwise” to delay because it might require the central bank to eventually raise rates rapidly.

She said it was “reassuring” that market-based measures of inflation compensation remain low but are no longer at “very low levels.”

[Trades with cats]

From Wall Street Journal Blog
Here’s the money quote:

At its meeting that concluded early this month, the Committee left the target range for the federal funds rate unchanged but reiterated that it expects the evolution of the economy to warrant further gradual increases in the federal funds rate to achieve and maintain its employment and inflation objectives. As I noted on previous occasions, waiting too long to remove accommodation would be unwise, potentially requiring the FOMC to eventually raise rates rapidly, which could risk disrupting financial markets and pushing the economy into recession. Incoming data suggest that labor market conditions continue to strengthen and inflation is moving up to 2 percent, consistent with the Committee’s expectations. At our upcoming meetings, the Committee will evaluate whether employment and inflation are continuing to evolve in line with these expectations, in which case a further adjustment of the federal funds rate would likely be appropriate

[Al_Dente]

Smalls backtest in progress
A bounce up to the declining red-dashed line “should” fail, if the bears can get stronger than this:
NY declining stocks = 1.6 x advancing stocks
NY declining volume = 1.2 x advancing volume

[uempel]

Update:

[Trades with cats]

Talk about bipolar, I really think small caps need their meds checked. Higher rates good? Well it must be the headline reading algos.

[Trades with cats]

Zerohedge tweeted that Fed Funds Futures have now FULLY PRICED IN a JUNE and a DECEMBER rate hikes. DXY at 101.165 with a really big green bar on my hourly chart.

[Junior Buffett]

Talk about bipolar, I really think small caps need their meds checked. Higher rates good? Well it must be the headline reading algos.

I almost feel like market will tank on not raising interest rate...I am really impress with big boys ability to pump up market on recycle news day in and out...

If FED increases the interest rate, big boy will give us an excuse that economy is in very good condition and will lift the market....BEARS will be saved by having another QE/interest rate cut!

Thinking outside box...to beat big boys...

[Al_Dente]

Talk about bipolar, I really think small caps need their meds checked. Higher rates good? Well it must be the headline reading algos.

Q&A begins now