02/14/2023 Live Update

[Cobra]

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The market still is trying to decide which way to go. Guess the CPI did decrease but not as much as the market wanted. Anyway, overall, we're in a range.

[Al_Dente]

Inflation rose 0.5% in January, hotter than expected
CPI +6.4% YoY (+6.2% expected)

[JFR]

ES daily.

10th day in this range. Back up to the high of December, where it meets resistance that must be overcome.

[JFR]

ES 60 minutes.

Some good moves on the hourly. Spikey at times.

[JFR]

ES 5 minutes.

A drift up starting 4 hours ago. A news spike up and down 40 minutes ago, CPI (Thank you, Pasta Boss). Now drifting down. Lots of action.

[JFR]

Happy Valentine's Day to all who travel through these pages.

Thank you, Cobra.

Chocolate for All.

[JFR]

ES 5 minutes.

Down to the Pivot.

Back later ...

[Al_Dente]

A Valentine's Day ANECDOTE:
A Texas Zoo is offering a Valentine's Day Special:
For a small fee, you can name a cockroach after your ex
Then they will feed the roach to their other critters
It's a pretty popular thing

[Al_Dente]

gap fill already on SPY
but not on AAPL

[Cobra]

Members only update at 10:12 am
http://www.cobrasmarketview.com/2023/02 ... ay-update/

[Cobra]

Break to the new day high with good looking bull bar in the next couple of bars then it's an early sign of an uptrend day.

[Al_Dente]

Call buying, at the moment

[Mr. BachNut]

Mr. B checking in.
Been awhile... been busy on other matters.

The NYMO cycle is DOWN!
We have a benchmark price of SPX 3997.76 set at the high of the last NYMO up cycle.
NYMO has been bouncing up last few days, which may be a corrective move to the zero line or the start of a new up cycle.
Time will tell. If we are beginning a new up cycle, this benchmark price will get stranded for a while, but all benchmarks get tagged eventually.

Pricewise, we are looking to close a gap above at SPX 4164.
Down below there are three open gaps.

Bulls are presently making a second attempt at the upper keltner band. They barely missed a tag on Feb. 2.
If this push fails to reach the band, presently 4246 and rising, a trip down to the middle keltner and perhaps the lower keltner could be in the cards.
Until the upper keltner band gets tagged, I have a bear bias in the longer term.

I am seeing price in a narrow bull channel within a wide bull channel.
The wide bull channel could be a big bear flag.
Bulls have successfully tested the 200 day MA, which is supportive of the upward price action.

I am flat and have been out of markets on other matters.
While NYMO is negative and in a down cycle, price rules, and my setups have been long since January.

[Cobra]

Happy Valentine's Day to all who travel through these pages.

Thank you, Cobra.

2023-02-14_06-33-31.png

Chocolate for All.

2023-02-14_06-36-04.png

Are you serious? You really would like to thank me? How come you look angry?

[JFR]

Happy Valentine's Day to all who travel through these pages.

Thank you, Cobra.

The attachment 2023-02-14_06-33-31.png is no longer available

Chocolate for All.

The attachment 2023-02-14_06-36-04.png is no longer available

Are you serious? You really would like to thank me? How come you look angry?

Ha ha.

This is more like me. I can be lazy. Oh, yeah. When I am not on the prowl, that is.

[brokebybernacke2]

vix down 3% huh

[Cobra]

It's the bull's last stand here for a range day. Breakdown in the next couple of bars with good looking bear bar then it's a downtrend day.

[jademann]

So much for transient inflation and now so much for disinflation. Fool me once...
I bought a 30% position in SPXU at 13.18 this morning.

[Cobra]

Possible measured move down.

[JFR]

ES 5 minutes.

Active market. Almost schizo. Reaction to the CPI, I expect.