07/13/2021 Live Update

[Cobra]

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I don't think it's a double top here as it's too flat, if bulls are able to touch the line above then breakout would be likely.

Gap down within the yesterday's range so likely a range day.

[JFR]

SPY 15. Something dropped the market in the last hour.

[Trades w 2 Cats]

Red hot CPI highest rate in 30 years has caused market to price in a Fed rate hike by Jan 2023. Waiting to see Powell and company try to talk inflation genie back into the bottle. Ha Ha

[JFR]

SPY 5. Trying to find support. The drop cost me some money, on a futures holding that did not hit its target. The cause of the drop is not as important to me, just part of the game. Play the charts. From the tablet ...

[JFR]

SPY 5. Trying to recover.

[JFR]

DIA and QQQ treading water. IWM and SPY down.

[Cobra]

Members only update at 10:05 am
http://www.cobrasmarketview.com/2021/07 ... ay-update/

[JFR]

SPY 5, back to the previous close.

[Cobra]

It's a morning hourly hollow red

[Al_Dente]

"JP Morgan warns hedge funds to expect intraday margin calls"
JP Morgan is warning hedge fund clients that it will demand they post more cash at any time during the day if their trades lose value. The biggest US bank by assets called clients of its prime brokerage division in the aftermath of the collapse of Archegos Capital Management, according to three people familiar with the matter. JP Morgan told the hedge funds and family offices that they would have to post more collateral on their single-name equity swap positions if they lost value intraday.

[BullBear52x]

Are we there yet? nothing change, dip seems to be bought at any level. Moon mission operation.

[BullBear52x]

Strong Friday followed by strong Monday, not bad, bears need Turn around Tuesday. saw some weakness this morning, watch $VIX for direction today. sell day, Honey hole special again.

[Trades w 2 Cats]

Crying big tears that JP Morgan has taken away my 100 to 1 leverage plays with a loop hole allowing me to be a major holder of a stock without reporting my position. But all is not lost they are still using options to manipulate the daylights out of Tesla.

[Trades w 2 Cats]

Starting to get interesting.

[BullBear52x]

3 push up? bearish sell setup, testing the water zone for die-hard counter trend.

[Al_Dente]

SPY, QQQ
ATH

[Cobra]

Measured move up, the breakout could mean it's an uptrend day.

[BullBear52x]

Bears need 40 handles under the belt before a good sleep at night. the power that be knows that.

[Trades w 2 Cats]

Narrative Machine or B of A saves the up move-
Evil site showed CPI hottest it has been in 30 years with a nice pre-market selloff. Then after the open Evil site reposts comments and charts from B of A showing 1/3 of the super hot CPI was used car prices. Not to worry wholesale used car prices have already turned around and they said market lags wholesale by about 3 months so a couple of months from now used car prices will be negatively impacting CPI so Fed can sit on hands. Market response is "party on!".

By the way hope everybody has been watching lumber futures as published in the media. Hard to find that kind of chart porn these days as we are well down on the other side of the bubble so all that used lumber to justify increasing house prices are now doing the Wyle Coyote air dance.

[Al_Dente]

AAPL breakout ATH