10/26/2017 Live Update

[Cobra]

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no idea up or down here, need see more bars.

[Cobra]

members only update starts here: http://www.cobrasmarketview.com/2017/10 ... ay-update/

[Cobra]

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

[Trades with cats]

Right now it looks like the Yellen spike down this morning is showing us reasonable support. By all accounts this should be a flat day so the retest of the Yellen spike should mark the low but I am a bit skeptical of that scenario.

[brokebybernacke2]

Right now it looks like the Yellen spike down this morning is showing us reasonable support. By all accounts this should be a flat day so the retest of the Yellen spike should mark the low but I am a bit skeptical of that scenario.

Major fail by bears yesterday, again. we have a fed announcement for new chair very soon, if it's Powell or Yellen..to the moon , again, alice...

[Trades with cats]

Morgan Stanley note up at Zerohedge this morning reinforcing a Jesse Fielder twitter post showing earnings growth by sector. Bottom line earnings is priced in so according to the house of Morgan it will most likely be sell the news, especially with the FANGs. So appointing Powell would provide continuity and no real change in Fed policy, something the market will need over the next couple of weeks.

[te_fern]

Levered smalls bounced off the first resistance line. Working its way back for another try....

[te_fern]

Pushed through....

[te_fern]

Haven't seen any trade setups I like yet to day. Watching....

[Trades with cats]

Finally the ES moved above overnight high for the second time playing catch up to the action in the small caps. Time to decide if today is the day for new highs or if we drop back into the range and wait for Friday/Monday standard game plan.

I favor waiting so more retail money can be tempted over the weekend and then close the deal with one of those Sunday night gap ups on invisible volume.

[fehro]

INDEXes testing 20d SMAs.. SPY stalls at y GAP .. /ES bearish rising wedge.. DXY dollar huge move up..

[Trades with cats]

Kinda hard to get excited about the small caps crawling back to the bottom of the trading range.

[te_fern]

Pretzel Logic says breaking this downward resistance line is key to new highs....

[te_fern]

Finally the ES moved above overnight high for the second time playing catch up to the action in the small caps. Time to decide if today is the day for new highs or if we drop back into the range and wait for Friday/Monday standard game plan.

I favor waiting so more retail money can be tempted over the weekend and then close the deal with one of those Sunday night gap ups on invisible volume.

I agree and next week is first of the month which tends to be bullish....

[Trades with cats]

looking like yesterday's close is the trampoline. Didn't press down as hard this time waiting to see if we get as good a bounce as we did at 8 and 10:30. Alswo marks a pretty obvious level that market should not go below.

What a great day for the band traders so far!

[Denali92]

Was that it?

I have no clue - but here is a bit of history about how the market trends at the end of October and in to early November.

http://www.cobrasmarketview.com/2017/10 ... ay-update/

-D

[Cobra]

members only update at 12:12 pm
http://www.cobrasmarketview.com/2017/10 ... ay-update/

[te_fern]

The big board has been flat-lining it, but the Q's have been grinding higher....

[Trades with cats]

Moving into tech earnings I assume. No way Cook is going to disappoint again. I downloaded and printed a really nice poster that shows all our cognitive biases. I think after all the mistakes Apple longs need to be examining the chart (of cognitive bias).

[Daniel]

...poster that shows all our cognitive biases.

That is an amazing graphic, thanks for posting.

The inner circle of captions and titles looks like a course-listing for a 7-year graduate program in psych! I immediately went into the zone labelled Too Much Information.



When we are cognitive, fully cognitive, it's like playing a duet with a player-piano--so much of our mentation is autonomous or subconscious, or even just selectively framed.

I'm putting the JPG file of that chart into my screensaver/wallpaper folder.