07/07/2021 Live Update

[JFR]

SPY weekly. That is one helluva trend. Due for a pullback? Yup. At any time.

[BullBear52x]

There is a chance we can consolidate sideways, but I will not put my money on the buy side, (nothing new haha)

[BullBear52x]

Big picture, DOW Theorist is not bullish if S/He is honest. sell day tomorrow. peace!

[BullBear52x]

Shorting idea. SMH

[JFR]

Not much drama today on the markets (not having checked the financial news). TLT up. USO down. Small changes on the others. SPYV flat.

[JFR]

From AutoChartist. Channel up on the S&P.

[Cobra]

Must be the FOMC minutes, still looking for the range high. It could be a down in the morning then up and up till the close day though, we'll know here if it keeps going up after the minutes.

[Al_Dente]

Long Time Guru Mark Hulbert calls SKEW the ‘black swan’ index
[Spoiler: “I’m not convinced that the SKEW’s high recent readings mean that more traders than usual are betting on a sharp decline  … In fact, it’s possible that the higher SKEW index reading means just the opposite.”]
https://www.marketwatch.com/story/what- ... 1625642794

[Cobra]

Maybe the pullback was over, bulls decided to challenge the new day high?

[Al_Dente]

THE FOUR HORSEMEN plus CONSUMER DEMAND
20 days
(using KBE big banks instead of XLF all-financials, and using RCD equal-weighted discretionary instead of XLY discretionary)
(if you put XLK in there you’ll see who leads by a mile, but we all know that already)

[Al_Dente]

They’ve been flippity-flopping around but the options traders are still suspicious of this SPX high
Plus neg diverg on the RSI-12

[Cobra]

Members only update at 3:30 pm
http://www.cobrasmarketview.com/2021/07 ... ay-update/

[Cobra]

Ascending triangle, breakout is more likely.

[Cobra]

Members only update at 3:53 pm
http://www.cobrasmarketview.com/2021/07 ... ay-update/

[Cobra]

Well, guess that's it for today. Here's what Thursday tomorrow looks like: https://stockcharts.com/public/1684859/ ... /533449387

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/ ... /533449387