12/17/2020 Live Update

[Cobra]

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The pullback overnight might be bought. Possible trend day either up or down (Another day of fading a morning up gap)?

[Cobra]

The members only update starts here: http://www.cobrasmarketview.com/2020/12 ... ay-update/

[te_fern]

Watching this in case it's a mini crash channel...

[te_fern]

The forum only let me post one chart today! LOL! The SPX is still in the crash channel....

[Cobra]

Members only update at 10:12 am
http://www.cobrasmarketview.com/2020/12 ... ay-update/

[Cobra]

It's a morning hourly filled black bar

[Cobra]

Not sure whether this bar means the range low was in. Feels it's the one though.

[Cobra]

Members only update at 12:05 pm
http://www.cobrasmarketview.com/2020/12 ... ay-update/

[Al_Dente]

Since the November 2 low, the Equal Weight SPX (dashed line behind price) has been confirming each high …. until the 12/9 high when it printed a neg divergence …. okay so we gave it a chance to “cure”.
On today’s ATH the equal weight $SPXEW DID NOT HIGH ... yet ...
Second NEGATIVE DIVERGENCE

[Trades w 2 Cats]

Hi everybody. Have said nothing since my old computer died and I lost my password (linked to a defunct e-mail account). So this is the third time I have registered over the years. My core membership goes back from before Cobra started asking for the monthly donation.

Fumar, Caley, myself and my better half sold our home this summer and are supposed to be touring the country in our trailer. The cats have easily adjusted. That has not worked out so well for the humans as we are locked down in the Mojave desert.

Speaking of locked down how about options gamma keeping us pinned in this range through expiry.
https://www.zerohedge.com/markets/sp-ca ... -spotgamma

I assume you all saw that Harknet at Bank of America issued a sell signal earlier this week because of low liquidity. I also assume that Pasta Boss will be posting the rules for the Santa Rally that should start late next week.

My best guess is a new Covid deal is reached this weekend allowing the bots to jerk us up to a new all time higher high Sunday night. Then the usual sell the move first part of the week before we move into the year end rally. All done on very low volume with a lack of conviction because you know the decision makers are heading for their private jets and a winter holiday this weekend.

[Al_Dente]

For the bulls:
1): Aggressive buying of recent IPOs vs SPY is bullish
2) and 3): Cumulative AD is bullish
4): Inverted VIX is trying to catch up
Daily charts

[Al_Dente]

Hey CATS welcome back

[te_fern]

Hey CATS welcome back

I agree with Pasta Boss, good to see you TWC! Hope you are back for a while!!

[Al_Dente]

[Al_Dente]

same chart, different time-frame, ONE YEAR

[Cobra]

Maybe finally, higher low here?

[Trades w 2 Cats]

Thanks, I never leave but last six months have been pre-occupied with other stuff. Much easier to concentrate when you are living in a 28 foot long aluminum tube. Our kids are betting on how long we last

[K447]

... Our kids are betting on how long we last

Are you taking the other side of those bets?

[JFR]

Hi everybody. Have said nothing since my old computer died and I lost my password (linked to a defunct e-mail account). So this is the third time I have registered over the years. My core membership goes back from before Cobra started asking for the monthly donation.

Welcome back. I was wondering where you were. Sounds like you and your family are having quite the adventure. I hope you and the family, including the cats, are all doing well. Do your cats get your attention by sleeping on the keyboard? Ha ha

[JFR]

ES daily. Back to the top. Next step: breakout or pullback. Range won't go on forever.