07/14/2022 Live Update

[Cobra]

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Testing support, breakdown now might not hold, better a little consolidation first. Sharp rebound from here then it could be a double bottom (red arrows).

[JFR]

ES daily. Slipping down beneath the EMA 20. Multi-day trading range.

[JFR]

ES 60 minutes. Down. Down. And down. Just above S1, where it finds some support.

[koolblue]

[koolblue]

[JFR]

SPY 15. Wednesday's gains lost post-close and overnight.

[JFR]

ES 5 minutes. Finding support at S1.

[koolblue]

Some random headlines from today. “Everything is in play,” Atlanta Fed President Raphael Bostic told reporters in St. Petersburg, Florida on Wednesday. When asked if that included lifting interest rates by a full percentage point, he said, “it would mean everything..... Futures fall as JPMorgan, Morgan Stanley kick off earnings on sour note.....Futures would have to fall to 3586 to price in a recession (bloomberg).....Fed’s Mester Says CPI Data Gives No Reason for Smaller July Hike (bloomberg)... WE have already broken the important 3741 low, only by a tick so far , but when the market whispers, i listen! (Koolblue) lol

[JFR]

SPY 5. Price action.

[jademann]

new lows are coming within 2 weeks. End of year will be 3600 at best.

[koolblue]

[JFR]

Hi. Since you report trades, it would help observers follow the action, for success or failure, if you would post the entry price and time when they happen. Thanks.

[jademann]

We are at a very long term critical breaking point.

[Cobra]

Members only update at 10:00 am
http://www.cobrasmarketview.com/2022/07 ... ay-update/

[JFR]

SPY 5 minutes. Price action. Pushing down.

[Al_Dente]

unemployment claims up
JPM eps disappoints
MS eps disappoints
dollar up

[Trades w 2 Cats]

[jademann]

the VIX 50ma isnt going to hold. Means more down to retest recent lows.

First VIX support is 30.2. Then 34.8. After that....

[Trades w 2 Cats]

Taiwan Semiconductor echos Micron, saying hand set demand is declining.
FOMC speakers sticking to party line, must crush inflation.

So Jim Cramer, there must be a bull market somewhere?

[jademann]

So Jim Cramer, there must be a bull market somewhere?
Does SPXU count?