03/11/2021 Live Update

[Cobra]

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Rising wedge to test the resistance, bears have 50% chances.

Gap up above the yesterday's high so it has some chances being an trend day either up or down.

[JFR]

ES daily. Moving on up. Eyes on the top.

[JFR]

SPY 15. Extended hours, pbar at 800 o'clock. Gap up from yesterday's chop. Back later ...

[BullBear52x]

You know what direction I'll be in today. leaning down looks like 2x top overnight.

[Al_Dente]

The Labor Department reported 712,000 new filings for unemployment benefits during the week ended March 6. That's fewer than estimates of 725,000, but still well above pre-pandemic levels. (CNBC)

[BullBear52x]

The Labor Department reported 712,000 new filings for unemployment benefits during the week ended March 6. That's fewer than estimates of 725,000, but still well above pre-pandemic levels. (CNBC)

Every week over 700k for a long time now. sad for those guys.

[Cobra]

Members only update at 10:05 am
http://www.cobrasmarketview.com/2021/03 ... ay-update/

[BullBear52x]

Buy only unless the crazy reversal back under 3922

[Al_Dente]

INDU ATH
IWM ATH
KBE ATH, XLF ATH
XLI ATH
XLB ATH

[BullBear52x]

balanced area. bullish bias because of the attempt high.

[Mr. BachNut]

It looks like we will have our second NYMO close above the zero line today.
So, unless things get slammed into the close, the cycle is now UP.
I have marked the recent down cycle with a low on March 4th.

Price closed the two outstanding up gaps this morning.
The current surge has opened three new down gaps below to serve as potential targets down the road.
Bulls have some work to do to revisit the upper keltner band if that is what they want to do.
We shall see.

Not much else to say.
The US$ bears did show up on cue Monday to defend shorts and avoid a squeeze.
Perhaps some of the equity rally can be linked to that.
I will keeping an eye on FX in the weeks ahead.

I am long SPX and R2K.
I have scaled out one profit unit in R2K so far.
I had been short some R2K, which was closed for a loss and reversed yesterday.
I have capacity to add to these positions. We are in the futures contract roll and things look a bit wedgie.
So, manual control for the fill.

[BullBear52x]

The very last V-POC on profile is sitting at 3947 that will be my target today for the high.

[Cobra]

Sorry, forgot to comment, so a little late. The breakout means it's an uptrend day. Bears be careful.

[Trades w 2 Cats]

Public Service Bulletin

Today is the start of stock index futures roll into the June contract. The discount is essentially $10 on the June ES.

[BullBear52x]

want to see something that is not right? look at advance/Decline issues = negative.

I am good and sit out now.

[BullBear52x]

today is buy day, so will buy in one more time, two buy coupons today. some neg D but not a sell day until the next buy fail. same playbook for me.

[Al_Dente]

Some of the popular "meme stocks"
DAILY

[Trades w 2 Cats]

Yesterday Zerohedge confirmed with Goldman internal stats report that the first leg up this week was a short squeeze on the most shorted. Makes sense because why else would Tesla suddenly turn around. But the move today can only (in my opinion) be retail and other momentum chasers piling in. I am assuming that they are digging into savings because the new check from Uncle Sugar will be there soon. Will be looking for comments on twitter in regard to call Gamma forcing NY Banks to buy at the top. Could be setting up for a spike followed by a really fast drop.

[BullBear52x]

Bigger map, High of 3958ish, overbought RSI on top of BB, well, my type of Honey hole at this point. so bulls will have to slow down first.

[BullBear52x]

Buy high and sell higher for the overnight holding will have a major 2x top to grind. I always sell the 2x top but that just me. for intraday I will see the buy dip fail first before I honk my bear horns.