06/01/2021 Live Update

[Al_Dente]

Krispy Kreme plans to trade on the Nasdaq under the ticker symbol “DNUT”
I don’t know the IPO date
https://chainstoreage.com/krispy-kreme- ... franchises.

[Al_Dente]

release the bear:
https://www.youtube.com/watch?v=KRyO1WuFjgU

[Cobra]

Members only update at 12:20 pm
http://www.cobrasmarketview.com/2021/06 ... ay-update/

[Al_Dente]

Adam Mancini
For the past seven weeks, the pattern in #ES_F has been the same - pullback Mon-Wednesday then rally Thurs, Fri. Same today

~4195 was my key support & held so far. Very important bulls defend this to keep 4270 direct in play, otherwise 4170 then 4147 (strong support) next down

[Cobra]

Rebound was indeed sold, it didn't break the EMA decisively so still some chances of downtrend day. Now let's wait to see whether the breakdown is a typical breakdown then sharp reversal. Further down from here then it could be a downtrend day, just it's too late for me.

[Al_Dente]

spy lower low
qqq higher low
bullish divergence
5min

[JFR]

SPY 5. Dragging along the bottom, profit taking on a quiet day.


[attachment=0]Screenshot_20210601_111650.jpg[/attachment]

[Al_Dente]

SAVE FOR LATER, long article
Chamath Palihapitiya and SPAC (“blank check fund” … aka: “going public through the back door.”)
He’s the peacock who famously said, on-air, about hedge-fund managers: “Let them get wiped out. Who cares? They don’t get to summer in the Hamptons? Who cares?” 
He told students at Stanford’s business school, in 2017: “I want the fucking money … I will play the goddam game, and I will win.”
https://www.newyorker.com/magazine/2021 ... r-of-spacs

[Cobra]

So it's again a breakdown then sharp reversal. Most initial breakout/breakdown are simply false. Anyway, this bull shall have legs.

[Al_Dente]

Beware the oil demand will be met with increased supply.
Today’s OPEC+ meeting: OPEC+ will gradually return 2 mb/d to the market, with the pace being determined according to market conditions.
As part of the return to normal, the oil producers will push ahead with an increase of 841,000 barrels per day in July, following hikes in May and June, Bloomberg reported.
Furthermore, as OPEC+ hopes to capitalize on rising prices, it doesn't want prices to rise too high as to push US shale producers out of hibernation and into overdrive, resulting in another production glut.
Fatih Birol, executive director of the International Energy Agency, told Bloomberg that if the alliance doesn’t boost output later this year, prices will face further upward pressure, with $80 oil increasingly likely. Some are even whispering of triple digit prices.

[Cobra]

Members only update at 3:27 pm
http://www.cobrasmarketview.com/2021/06 ... ay-update/

[Al_Dente]

well that little bull leg lasted an hour+ and now meets profit taking
5min chart

[Cobra]

Members only update at 3:48 pm
http://www.cobrasmarketview.com/2021/06 ... ay-update/

[Cobra]

Well, guess that's it for today. Here's what Wednesday tomorrow looks like: https://stockcharts.com/public/1684859/ ... /533449381

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/ ... /533449381