04/12/2019 Live Update

[Cobra]

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breakout. looks strong enough so hopefully this time the morning gap won't be faded AGAIN which has been the pattern recently. trend (either up or down) day possible today.

[Cobra]

members only update starts here: http://www.cobrasmarketview.com/2019/04 ... ay-update/

[BullBear52x]

Bulls are serious, I hope we got trend day either way. With new HH today bearish scenario is out of the window, buy dips to continue on trend following.

[JFR]

Overnight gap up on DIA IWM QQQ and SPY.

[1der]

This morning’s PBar picture. SPY
Time is Pacific Coast

[Trades with cats]

Strange thing was the big delay between the news release of the Chinese credit flood and the market reaction well after the fact and in Europe for the big drive up. Wondering if this will be yet another night move that goes flat in the light of day.

[JFR]

Steady as she goes. No extreme moves up or down post-open. At least not yet.

[Trades with cats]

Really ugly looking overnight volume profile. Bid Ask delta is at 16,000. Yesterday was close to zero. So either asn overnight squeeze or a bull exhaustion if we don't get a trend up follow through.

[Trades with cats]

ES 2916 is the first target on trend up day. Others are 2923 and maybe 2927. Hat tip FT 71

[JFR]

"Stun gun" so far. Gap up then flatline. One expects that will change.

[BullBear52x]

I have no good setup besides wait out for a good pull back or sell just to get something start but no clear view at this moment

[JFR]

Riding the EMA Train. Back later ...

[Trades with cats]

Twitter feed says the big traders sold the morning pop.

[BullBear52x]

simple RSI is taking this down, this is not good for bulls.

[Trades with cats]

ZeroHedge has an in depth look at Wells Fargo earnings report. If you are familar with banking terms you would be very worried about their future profits.

[Cobra]

members only update at 10:05 am
http://www.cobrasmarketview.com/2019/04 ... ay-update/

[Trades with cats]

Looking like the trend up day has stumbled at the first corner, but the day is far from over.

[BullBear52x]

this is the day that day traders only allow 2 handles if that. Boreeeeeeing

[BullBear52x]

I got a pivot at 909.75, I will sell below that level. got to get wet somehow after all it's Friday.

[Trades with cats]

Twitter feed saying the PBoC credit impulse (the number at 1:30 AM central that set off the gap up) was over 1 trillion US or equal to 10% of GDP. By most any standard that is absolute and total panic seeing an upcoming economic collapse on the part of the PBoC.

I do not have the equivalent number from the US sub prime crisis, but I assume it was similar.