10/08/2021 Live Update

[Al_Dente]

Is the stock market open or closed on monday?

Stock markets closed, futures/options are open is what I see.

What!! Sounds like chaos

[jaguar6992]

https://www.nyse.com/markets/hours-calendars

Equities are trading on Monday. Bonds, maybe not.

[Cobra]

Members only update at 12:12 pm
http://www.cobrasmarketview.com/2021/10 ... ay-update/

[Al_Dente]

5day average price of some sectors. (The daily price is INVISIBLE)

[Trades w 2 Cats]

Long piece on seeking alpha pushing Permian Basin Trust. Oil royalty trusts were set up years ago as a way to leave revenue to family without the need to run an operating company. If not familiar best to read up as they do have a few quirks.

Thesis is Conoco Phillips was the operating company for five years and drilled no wells. New operator has been drilling. Trust revenue goes to pay the Trusts share of the new wells before it becomes dividend distribution. Forecasting fourth quarter wells will be paid for and a big jump in dividends will start. Also a nat gas to gasoline plant is being put in near by. PBT does produce a reasonable amount of Natty.

This was suggested as a way to play the longer term energy shortage. If you think the switch to green energy is not immediate. Kind of reminds me of the paperless office that was announced 35 or so years ago.

[Al_Dente]

50% of stocks are declining
SPY is down and testing an intraday bottom
divergence persists: options traders are still buying calls … but not quite as much as they were this morning

[BullBear52x]

4367

[Al_Dente]

Record high fertilizer prices “threatening higher food prices” [Bloomberg]

[Trades w 2 Cats]

Overnight low seems like a good place for bulls to turn this around.

[Trades w 2 Cats]

4391 has offered resistance for an hour. Not going to give up on a second touch.

[BullBear52x]

I am disappointed bears. it's Friday. Peace!

[Al_Dente]

BREAKING NEWS:
“A group of 136 countries have agreed to a global treaty that would tax large multinationals at a minimum rate of 15%.“ (Ireland just caved).
The pact includes provisions to ensure that multinational companies pay tax where they generate sales and profits, and not just where they have a physical presence. That could have major ramifications for tech companies such as Google and Amazon, which have amassed vast profits in countries where they pay relatively little tax.
The deal still requires countries to pass domestic legislation.
Good luck with implementation

[Trades w 2 Cats]

We have met the 30 minute rule for a double bottom. If it doesn't reverse here it will be the fourth touch since yesterday's close so odds are it will not hold. As they say, decision time.

[Trades w 2 Cats]

Failed fast and hard. Limbo Limbo, how low can you go?

[Cobra]

Range breakdown but volume surge so should be a rebound here first then we'll see. Just in case it's a breakdown then sharp reversal up again.

[Trades w 2 Cats]

Tuck Tic Volume Flow says on his telegram channel that the the volume was very high breaking the overnight low. He wonders if it could be a trap.

[Trades w 2 Cats]

Teal line in the indicator panel is John Ehlers newer toy from Sticks and Commodities last June. It is supposed to find the highs and lows on a cycle following a trend. He says it is a zero lag indicator. I paired it with the Vortex which is similar, but looking for a half cycle.

[Cobra]

So, once again, it's a breakdown then sharp reversal up.

[JFR]

SPY 5. Light this fire cracker. OK.

[Trades w 2 Cats]

Weekend research- an older system, The Tunnel by Vegas. These days they call it the Vegas Tunnel. Idea is to go long and short when the pair of EMA's making the tunnel are crossed. You take partial exits as each Fib level is hit.

I added Ehlers Trend Cycle as a bonus filter. Just search on Vegas Tunnel the indicator package is available for most charting programs.