08/23/2019 Live Update

[Cobra]

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no idea up or down from here but if bulls can touch the upper line again the breakout would be very likely.

[Cobra]

members only update starts here: http://www.cobrasmarketview.com/2019/08 ... ay-update/

[Cobra]

members only update at 9:56 am
http://www.cobrasmarketview.com/2019/08 ... ay-update/

[te_fern]

You could almost feel that bounce coming, but I'm wasn't fast enough to take advantage of it..

[te_fern]

Cobra will tell us, but it feels like we might be in range for a little while...

[te_fern]

I guess Powell is speaking, causing some of this volatility....

[Al_Dente]

Here are the key highlights:

*POWELL: `WE WILL ACT AS APPROPRIATE TO SUSTAIN THE EXPANSION'
*POWELL: ECONOMY IN FAVORABLE PLACE, FACES `SIGNIFICANT RISKS'
*POWELL SAYS EVENTS SINCE THE JULY FOMC HAVE BEEN `EVENTFUL'
*POWELL: CAREFULLY WATCHING DEVELOPMENT FOR IMPACT ON U.S.
*POWELL: MONETARY POLICY HAS NO RULEBOOK FOR INTERNATIONAL TRADE
*POWELL: WE'VE SEEN FURTHER EVIDENCE OF A GLOBAL SLOWDOWN
*POWELL CITES BREXIT, HONG KONG, WEAKNESS IN GERMANY AND CHINA

Some more highlights:

*Powell: Three Weeks Since Last FOMC Meeting Have Been 'Eventful'
*Powell: Fitting Trade Policy Into Risk-Management Framework Is a New Challenge
*Powell: Fed Faces Heightened Risk of Difficult-to-Escape Periods of Near-Zero Rates
*Powell: U.S. Economy Has Continued to Perform Well Overall
*Powell: Monetary Policy Cannot Provide Settled Rulebook for Trade
*Powell Sees Financial Stability Risks as Moderate, but Will Remain Vigilant
*Powell: Can Try to Look Through Passing Events, Focus on How Trade Affects Outlook

[te_fern]

[quote="Al_Dente"]Here are the key highlights:

Thanks!!

[te_fern]

Almost made it back to the top line. See if it turns or what.... Sold my long here...

[te_fern]

I'm starting to watch the short side, but I tend to lose money with it....

[Al_Dente]

Here are the key highlights:

Thanks!!

[te_fern]

See if these ST trend lines matter....

[te_fern]

Wished I bought the short! LOL!

[Al_Dente]

what???

[te_fern]

Back to the bottom of the range, start looking at the longs again...

[Al_Dente]

tweet

[Cobra]

so now at the best for bulls is range day, even it could be a downtrend day depends whether bears can make a strong follow through here.

[te_fern]

No longs, SPX kept falling. Trump is tweeting, stop trading....

[Al_Dente]

I do a lot better when I follow my own dammm rules
BOX RULES: don’t front-run, wait for breakout/breakdown.
“There ain’t no breakout until there’s a breakout."
Hourly

[Al_Dente]

MORE BOX RULES: If it can’t breakout/breakdown, or if it breaks but traders sense the break is a trap, they will reverse quickly, and the target is the other side of the box (in this case, the target is the lower line of the box).