03/24/2020 Live Update

[Cobra]

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If not counting the halt then it's kind of ascending triangle, breakout is more likely, probably will test the yesterday's overnight high. Don't know whether the "help package" has passed or not and not saying it'll go like the past this time, just to remind you that in year 2008, there's a package, first it wasn't passed the market tanked, Dow made a record down that haven't been seen for many years, then those politicians got scared passed the package the other day, while they were voting the market rose and rose and as soon as they passed the package, the market sold sharply and from then on the darkest several days in year 2008 started.

[Cobra]

Members only update starts here: http://www.cobrasmarketview.com/2020/03 ... ay-update/

[BullTart]

Just to put into picture what cobra said... since a picture is worth a ....

[BullBear52x]

5 min. sell, I want to see intraday push to break this sell. for now wait for good buy entry.

[Daniel]

Just to put into picture what cobra said... since a picture is worth a ....

Thanks BullTart. That really drives the point home.

My only concern is that I'm reading and hearing this concern widely. It may be that we'll have to wait until a concensus forms that begins to dismiss and "pooh-pooh" this concern; and only then will it once again be safe to take swing short positions.

2020 is an "exogenous event", not a systemic one, and viruses mutate, that's what they do. So people can be swung bullish quickly by hopes of a curve-squashing, much less a "curve flattening". And that could indeed happen, so it's not silly hope.

But the technical damage is so great there almost HAS to be a retest of any established major low. So probably there is at least one more major shorting oppty ahead.

[Daniel]

SPY up 5.5%, GLD up 4.8%.
No inverse correlation there.

TLT, BND not really selling off much. Fire hydrant money hitting the markets, buying this and that.

[BullBear52x]

While wait for the power that be decides what's for the peons

https://moneymaven.io/mishtalk/economic ... 6DiwoOShsA

[Cobra]

Members only update at 10:05 am
http://www.cobrasmarketview.com/2020/03 ... ay-update/

[Cobra]

Just to put into picture what cobra said... since a picture is worth a ....

Thank you!

[BullBear52x]

I am buying in now,

[BullBear52x]

here is bull flag.

[Daniel]

SPX is nudging up thru the 2375 resistance area now. Holding this, by close, would be a big step 1 for bulls.

QQQ is hitting resistance around the 181-182 area.

[QED]

.
Hey, who does not want “Diversity on Corporate Boards?”

Stop the discrimination: I think intelligent people should be allowed to be on corporate boards ... and maybe intelligent poor people would be even better!

.

[JFR]

ES daily. Bounce off support. But well below the EMA 20.

[JFR]

ES 5. Testing a pivot. Failing in first attempt.

[BullTart]

VIX is rising in tandem right now with the market... at an intrahour timeframe.

This does not build confidence in a continued run up from here.. given that we are already 7% up 30 min into the trading session.

Let's see what the market shows us here. VIX behavior makes me think this is a bull trap.

I have TVIX positions I bought not too long after the open, which is why this has popped on my radar here.

[Daniel]

I think intelligent people should be allowed to be on corporate boards ... and maybe intelligent poor people would be even better!

Come QED, you know very well that intelligent poor people put on corp boards would not stay poor long, so the effort would be self-defeating. Don't get distracted by the endless amusement of human folly, keep your eyes on the prize. This is a profit a minute market.

As Cobra said, don't even BLINK. (SPX suddenly up 7%!)

[Al_Dente]

I recall that it was Hank Paulson as Secty of Treasury who had total control of the $700 billion TARP bailout in 2008.
So there is historical precedent for Munchkin getting control of the $ trillion(s) “slush fund” if it passes.
Plus they are both dicks.

[Daniel]

Plus they are both dicks.

Sez who? Quote your source. Plus most of us here aren't interested in dicks, but in profits.

I'm like a coyote in a hen house and you should be too!

[Daniel]

90% up day so far, sez RevShark. I don't have the ability to confirm that.