05/27/2021 Live Update

[Al_Dente]

re the new FOMO etf
“...look, we want to be extremely agile. We want to be able to go wherever FOMO happens to be. Because where it is, is going to change over time. I mean, right now, you know, a lot of FOMO is in value because that's where the ball is, and that's where we're going to go. The other thing we wanted to do is we wanted to rebalance weekly, so we could really stay in harmony with what's going on. And we also want to weight our holdings by downside risk. So we've got the GameStops and the AMCs, but they're 1% positions, you know, not five, 10, or something like that. ‘
[Matthew Tuttle, CEO of the issuer: Tuttle Capital Management]

[Al_Dente]

zh says the big drop an hour ago was due to :

The Wall Street Journal reports that President Biden's budget assumes that his proposed capital-gains tax rate increase took effect in late April, meaning that it would already be too late for high-income investors to realize gains at the lower tax rates if Congress agrees, according to two people familiar with the proposal.

Mr. Biden's plan would raise the top tax rate on capital gains to 43.4% from 23.8% for households with income over $1 million. He would also change the tax rules for unrealized capital gains held until death.

[NOTHING HAS PASSED YET... it's still in the sausage factory]

[Al_Dente]

Medium-to-longer term:
Bulls want the consumption ETFs to continue showing strong demand.

[Cobra]

Members only update at 12:15 pm
http://www.cobrasmarketview.com/2021/05 ... ay-update/

[Cobra]

Now we have both range high and range low.

[Mr. BachNut]

Unless things crumple into the close, the NYMO cycle will confirm UP today.
NYMO did a picture perfect tag of the turn zone on May 12 and has made higher highs and lows since.

Price also made a low on May 12 and tested that low five days later with NYMO considerably higher (a tell).
At the time, I was looking for a lower price low with a positive NYMO divergence, but the bulls denied me.

We are up to nine open down gaps with none above. This is a target rich environment for a cliff dive...

The upper keltner has flattened while the lower keltner continues to rise.
The narrower the band gets the more it suggests an outsized move ahead.

I am long SPX and R2K with one profit unit scaled out in SPX.
Positions are smaller than usual as SPX is approaching double top resistance and R2K has been a choppy pain in the butt lately.
I may jam a stop below today's low, especially if we don't break Tuesday's SPX high. Yesterday was an inside day, so a break could be a failure.
My prior SPX short was a fail as scale profits did not cover the drawdown at exit.

[JFR]

SPY 5, from the tablet. I think Cobra nailed it: ''Today and tomorrow suppose to be very very boring before the holiday.''

Do we mind boredom? A character in Joseph Heller's hilarious book ''Catch 22'' cultivated boredom, because he felt it would extend his life. Ha ha. I don't mind a little boredom. Beats chaos. Makes for a good mix with excitement.

Umm, but what I really like is nice clean charts with good trends. Ha ha Not so much today.

Later ...

[Al_Dente]

reverse splits are coming:
SCO 1:4
VIXY 1:4
UVXY 1:10
ZSL 1:4

[Al_Dente]

ZSL is leveraged short silver (low volume)
Does anyone have a symbol for leveraged LONG silver ?

[QED]

.
Bringing the receipts!

Here Are the Top-Rated Cable News Shows for April 2021
(as per live-plus-same-day data from Nielsen)
By A.J. Katz on Apr. 28, 2021
https://www.adweek.com/tvnewser/here-ar ... 21/477372/

1. Fox News| Tucker Carlson Tonight: 3,023,000 / 19 telecasts
2. Fox News| The Five: 2,733,000 / 21 telecasts
3. Fox News | 9 p.m. / Hannity: 2,730,000 / 19 telecasts
4. MSNBC| 9 p.m. / The Rachel Maddow Show: 2,708,000 / 20 telecasts
5. Fox News| 10 p.m./ The Ingraham Angle: 2,071,000 / 18 telecasts


RATINGS Tuesday, May 25 Scoreboard: No. 1: Fox News Tucker Carlson
By A.J. Katz on May. 26, 2021
https://www.adweek.com/tvnewser/tuesday ... ws/479497/


Tucker Carlson Dethroned From Most-Watched Cable Spot — But Not By Who You Think
Joe Walsh at Forbes Staff - May 25, 2021
https://www.forbes.com/sites/joewalsh/2 ... 7864005546

For the first time this month, Tucker Carlson’s primetime Fox News show didn’t rank in the top two most watched broadcasts on cable TV last week — instead, the top slots went to a pair of NBA games on ESPN

The most popular non-Fox News or NBA broadcast last week was an episode of The Rachel Maddow Show that ranked in 15th place with 2.6 million viewers

When Carlson doesn’t snag the top spot on cable television, a live sporting event is sometimes the culprit. Two weeks ago, the top five cable broadcasts all belonged to Carlson, but in the first week of May, he fell just 10,000 viewers behind Fox Sports 1’s showing of a NASCAR Cup race.

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[Al_Dente]

.
Bringing the receipts!
.

Thanks Q

[Cobra]

Touch the blue line again then breakdown would be more likely which in turn confirms the breakdown of the previous longer blue line. Key time. So far it's still mostly within the range, unless breakdown here.

[Cobra]

The very first test of EMA20 in 2 hours, could attract some sellers, let's see whether they're strong enough to push the price down.

[Cobra]

Members only update at 3:30 pm
http://www.cobrasmarketview.com/2021/05 ... ay-update/

[Cobra]

Members only update at 3:53 pm
http://www.cobrasmarketview.com/2021/05 ... ay-update/

[Cobra]

Well, guess that's it for today. Here's what Friday tomorrow looks like: https://stockcharts.com/public/1684859/ ... /533449397

Thank you guys, I'll see you in another thread soon.

Before the close, please take a little time to vote for me, thanks: https://stockcharts.com/public/1684859/ ... /533449397