02/19/2020 Live Update

[Cobra]

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No idea up or down from here. Sharp down would be a lower high trend reversal so no sharp down allowed for bulls.

[Cobra]

Members only update starts here: http://www.cobrasmarketview.com/2020/02 ... ay-update/

[Heck]

Two/Three ISEE Indices = UP and UP

Rising CNN Neutral Sentiment 51 = 49 Points UP

Building Permits Surge To 13 Year Highs

Fed Foot on Gas Pedal
https://tinyurl.com/w4zzp49

PPI apparel, jewelry, footwear, and accessories retailing + 10.3 %
Iron/Steel Scrap + 13.9 %

Precious UP with Mr Market

SP.1 Mar Futures
BUYING Above 3,370.75

[te_fern]

Need to break the ATH to get anything going today...

[te_fern]

Peeking above, can it hold...

[Trades with cats]

Pullback to support, too early to say the move on ES 3390 is over. Looking for a double top or a breakout, not a one try and give up because all the liquidity is sitting above 90.

[Al_Dente]

ATH everywhere, including the Fangs+
Here's the problem with day-trading a low-volume, triple-leveraged ETF like FNGU

[te_fern]

Trying to push down thru VWAP....

[Trades with cats]

I am a coward, not wanting to short into support at VWAP and the overnight high.

[Cobra]

Members only update at 10:06 am
http://www.cobrasmarketview.com/2020/02 ... ay-update/

[te_fern]

Bouncing off VWAP now....

[te_fern]

TWC, sitting on my hands right now too. Not enough down movement and everything's run up a lot....

[Trades with cats]

http://maximum-pain.com/options/ES
That is why we are stuck here until the open on Friday and realistically Monday.

[Mr. BachNut]

Mr. B reporting in...

The NYMO cycle is up.
However, yesterday was negative, and at the moment, we are seeing a negative divergence.
Price has made a new high, but NYMO has not... yet.
Time will tell if we get a NYMO turn in coming days or not.
NYMO looks tired though.

Pricewise, another day another gap.
The stack of down gaps is dense and packed.
A move to revert to the 200 day MA would clear a chunk of it.
There is a case for an Ascending Wedge shaping here, which suggests a high may be in the cards.
Pac Man is heading to the stack of gap pills. Let's see if he gets to have a meal.

I am long an SPX runner position with a BE stop.
I am also long an R2K position sized smaller than usual.
The sizing may be a mistake, but it allowed me to honor a valid long setup at a time that seems late to take risk.
I am looking to scale risk units out of the R2K trade into OPEX, but emotionally I think this could turn into a loser.

[JFR]

ES daily. Up a bit, near the high, well above the EMA 20. Stuck in a range for swing trades.

[JFR]

ES 5. Chop. Chop. Chop. Respect for the pivot, the EMA 20 and the resistance level. Volatile bars. Scalps only, and be careful out there. Riding the EMA 20. In a nasty base.

[Trades with cats]

This is looking like a Wile Coyote market running on air waiting for a drop.

All those extra chart lines (which I have a love hate thing with) are showing me that the bulls can not move 1.618 ATRs above the EMA when half an hour ago they made a reasonable move up to 2.618 ATR's. Exasperating part is 4.1618 ATR's happens every day or two on a strong move and there it is at the magic 3900 which is also where a whole bunch of call options are sitting.

[Cobra]

Bias is up. Breakout to new day high with strong bull bar then it's an uptrend day.

[JFR]

Dow 30. Slightly more ups than downs. AAPL and JPM leading. TRV and WMT trailing.

[JFR]

ES 5. All the way up to the resistance level, in the base.