05/01/2023 Live Update

[Cobra]

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The pullback overnight probably will be bought as it's the very first touch of EMA20 in a long time.

[JFR]

ES daily.

Pushing above a support level, just beneath the high of February 2nd.

Well above the EMA 20.

Looks rather bullish, following two large marubozu candles.

[JFR]

ES 60 minutes.

Two nice moves up.

Trapped beneath 4196.

Getting squeezed by the EMAs 5, 10 and 20.

[JFR]

The world's markets are up. Oops, Italy down.

Reminds me of the Watergate Nixon tapes: "F*** the Lira," he said, when he was told the Italian economy, and its currency, were in trouble.

https://www.cnn.com/markets

[JFR]

ES 5 minutes.

The bulls make an early push up.

[Al_Dente]

FRC (old news now)
It cost JPM $10 billion
It cost the FDIC about $13 billion. [that money will be paid by the nation’s banks, which pay premiums to support the agency.]

JPM just said its acquisition of First Republic will generate an IMMEDIATE gain of $2.6 billion and $500 million in yearly profit.
The First Republic sale included all $103.9 billion in deposits and $229.1 billion in assets.

[Al_Dente]

Comment from zh:

DIMON: WE SUPPORT COMMUNITY BANKS, BANKS WILL CONSOLIDATE

Translation: we will wait for the bank run (thanks Fed for the hike to 5.25%) to cripple them all, then buy them all for cents on the dollar with the FDIC keeping the toxic crap

[Cobra]

Members only update at 10:06 am
http://www.cobrasmarketview.com/2023/05 ... ay-update/

[jademann]

flying on fumes..
https://stockcharts.com/h-sc/ui?s=$VIX& ... 1309525406

[Cobra]

Looks like a boring range day so far.

[Al_Dente]

Momentum and breadth... negative divergences
DAILY

[Cobra]

Members only update at 12:25 pm
http://www.cobrasmarketview.com/2023/05 ... ay-update/

[Al_Dente]

Performance YTD:
+100% Facebook $META
+90% Nvidia $NVDA
+54% Align $ALGN
+54% West Pharma $WST
+51% General Electric $GE
+50% Salesforce $CRM
+49% Chipotle $CMG
+33% Tesla $TSLA
+31% Apple $AAPL
+28.% Microsoft $MSFT
+26% Amazon $AMZN
+22% Google $GOOGL

[BullBear52x]

Classic boring sideways Monday, find excuse to buy until the reversal is clear. follow the rend is a buy in all time frames.

[Al_Dente]

JPM Hosts Analyst Call on FRC Deal
NO PAYWALL
https://www.bloomberg.com/news/live-blo ... ce=twitter

[Al_Dente]

WELL SURE... OF COURSE
"Loans to well-connected insiders: their own directors, officers and major shareholders surged at US regional banks like FRC ahead of turmoil.
Western Alliance, SVB and other banks reported a jump in loans to executives, directors and shareholders
[Bloomberg]

[BullBear52x]

Bottom construction: at this point I will follow MACD strictly, a breakout with a bullish crossed will be real deal, this week will tell. do or die in both parties, bulls or bears. for now bulls got an upper hand.

[BullBear52x]

It will be more bullish if individual investors were on board, but lots of uncertainty as we all know and feel. bottom line only price pays! Peace!

[JFR]

ES 5 minutes.

Lots of upward pressure.

Opening range breakout.

Small gains. Could be wiped out, as it settles down towards the EMA 20.

[JFR]

PHM. Pulte Group. Home Construction.

Founded in 1950. HQ in Atlanta, Georgia.

Many of these home construction, and related, companies are moving up.

Nice runup in January, and again in April.

Not recommending.

PulteGroup, Inc., through its subsidiaries, primarily engages in the homebuilding business in the United States. It acquires and develops land primarily for residential purposes; and constructs housing on such land. The company also offers various home designs, including single-family detached, townhomes, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, American West, and John Wieland Homes and Neighborhoods brand names. As of December 31, 2022, it controlled 211,112 lots, of which 108,848 were owned and 102,264 were under land option agreements. In addition, the company arranges financing through the origination of mortgage loans primarily for homebuyers; sells the servicing rights for the originated loans; and provides title insurance policies, and examination and closing services to homebuyers. The company was founded in 1950 and is headquartered in Atlanta, Georgia. -- Yahoo Finance