01/31/2020 Live Update

[Cobra]

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No idea up or down from here, in range, no direction. Possible range day.

[Cobra]

Members only update starts here: http://www.cobrasmarketview.com/2020/01 ... ay-update/

[Al_Dente]

note AMZN
(eps)

[Heck]

Coronavirus Deaths UP

100,000 "Under Observation"

State Dept Issues "Do Not Travel" Advisory

Turkey Deploys Warships, Air Defenses & Heavy Armor To Libya

Falling Greed 56 = DOWN

ISE Index PUTS Double Calls = DOWN

SELLOFF Accelerating

SP.1 Mar Futures
SELLING Below 3,297.50

[Trades with cats]

Waiting for the second leg up of the short squeeze by the big players. You know they have perfected their skills for years now. They will keep trying until their credit lines are cut off.

[Heck]

The Great Distractions

AMZN
2,037.69
Amazon.com Inc
+167.01(+8.93%)
CL
74.635
Colgate-Palmolive Co
+5.17(+7.43%)
CHD
76.315
Church & Dwight Co Inc
+3.54(+4.86%)
AJG
104.86
Arthur J Gallagher & Co
+4.66(+4.65%)
CHTR
515.24
Charter Communications Inc
+22.26(+4.52%)

Market Going DOWN

[Trades with cats]

Seeing a reasonably large chunk of buy offers down here. Market attracted to liquidity.

[Cobra]

Members only update at 10:08 am
http://www.cobrasmarketview.com/2020/01 ... ay-update/

[te_fern]

Can it hold???

[Cobra]

So far it has chances being a downtrend day but since it'd be mostly within the yesterday's range so I'll treat it as a range day anyway. The market action finally makes some senses but still cannot trust bears.

[te_fern]

didn't hold, have to start watching yesterday's low...

[Heck]

FCX Target + 111 %
From 10.91 to 23
+ 1.82 % Dividend

Largest copper producer in world
Gold, Molybdenum, Silver
We bought some on AM pullback

[Trades with cats]

So the big players used the Chinese Tourist Agency previously known as WHO to squeeze but clearly there wasn't enough left in the tube. Now we are back to that Gamma level at 3250. I keep expecting some sort of a bounce and we are clearly in a good place for that to happen. On the other hand we all have down side targets that are much lower.

[te_fern]

Daily copper futures....

[Cobra]

Testing yesterday's low, key time. Strong rebound here then it's a range day, decisive breakdown then it's a downtrend day. Again, finally makes some senses, the virus is worse than SARS.

[Al_Dente]

aggressive sectors, last 10 days %

[te_fern]

Quick drop to yesterday's low, important support zone...

[te_fern]

Going lower....

[te_fern]

We can hope for a bear trap... Probably just back testing the break, then lower....

[Al_Dente]

today is end-of-month
SPX is ready to go negative on the month, unless we get a late day rally
that will throw a wrench in the famous dictum "as January goes, so goes the year"
this chart is YTD (all January), 15min