05/06/2016 Live Update

[Wallstreetrader]

GM

Cobra Gap's are valid in cash or just ES ?

ES generally doesn't leave gap because it trades 24 hours.

But I have one 14 Fev. thanks for reply.

[fehro]

SPX .. treading water.. 50d.. over 2053-56 could see sharp pop up.. VIX still red, near LOD, last hour doji, morning star.. ish.. TRIN < 0.60

[finman66]

QQQ p-bar at $104.67 from March 11 fulfilled on the open this morning. Next downside p-bar is at $102.57 from March 1
SPY got within a few pennies but didn't quite reach the p-bar at $203.94 from April 12

[Out of Bounds]

Short 2036.50, looks like another leg is coming

[Wallstreetrader]

Pretty Clear now the trend with a lot of HS first 2034 big ones 2021

[Trades with cats]

Baker Hughes rig count later today. May be interesting, with Alberta fires having taken 1/4 of Canadian production off line I wonder if some drillers will go for it. Afterall they have sold a lot forward to get the bankers off their backs and they do love to drill.

Some are saying that the logistics issues in Louisiana of too many tankers trying to unload will be ignored by the futures crowd because they are not well connected by pipeline to Cushing. With all time high in spec long contracts I think they will ignore a reasonable amount of bad news because as we have seen the heard tends to stay together.

[fehro]

VIX still weak - ish .. SPX <50D

[Al_Dente]

NY advancing stocks are 0.77 x declining stocks
NY advancing volume is 1.14 x declining volume
NY declining stocks are 1.3 x advancing stocks
NY declining volume is 0.87 x advancing volume

1-to-1 is chop/range/no bias
But bears may not be covering until they see upticks in the TICK (1min, cumulative)

[Denali92]

Hi!

Posted the employment preview early this am....

http://www.cobrasmarketview.com/2016/05 ... le-bottom/

Three things:

-We have only traded down through the May employment report once since 2007 - that was in 2012 - that year has some similarities to this year with the high on the first trading day of the month....
-There are a few instances of the market trading down through employment pre 2007 - those instances are covered in the report....
-When trading down through the employment report in 2016 (Jan & Feb) - both times the market bounced from the Monday after to the Wed after

Given this is a different than normal May, it is probably best for bulls to be cautious till some time between next Monday and next Wednesday,

-D

[Trades with cats]

Another reason for the soft market today. Yet another tax loophole drug company hedge fund hotel has blown up, Endo. Implication is that the hedgies will be selling the solid stuff to raise cash. AS we all know that 50 to 100% margin is a crewl mistress when things go wrong.http://www.zerohedge.com/news/2016-05-0 ... do-craters

[superxy]

How to view Xiv? It is still positive while spy us down hard ...

[Wallstreetrader]

Waiting for the new LOD for go long ?

[fehro]

SPX new LOD's but VIX never took out yesterday's HOD .. dabble long not ideal.

[Cobra]

doesn't look like a double bottom, but let's see.

[Trades with cats]

Small caps pvioting to up just above the payroll reaction pre-market low. (just before Citadel Trading unleashed their Algos). You know the bulls are going to fight hard at this level.

[Wallstreetrader]

hum LH ?
@ high risk short

[Out of Bounds]

I'm thinking we will not see the 11:30 rally today.

[Wallstreetrader]

I'm thinking we will not see the 11:30 rally today.

2025 is my new HS target but... market is a little oversold, weekend ahead and possible doing a right shoulder of a HS bigger(daily), trend is bear imo.

[champix]

Uempel's BP are well down.
http://stockcharts.com/freecharts/candl ... BPENER|C|0

I see a 5 min gap on ES @ 2036.25 . These kind of gaps are filled 85% in the same session.
Not saying to short, but let's try carefully

[champix]

Europe close in 2 min !