10/22/2021 Live Update

[BullBear52x]

Oy..... no chase up for me, you go ahead.

[Al_Dente]

SPY another ATH
over on the nasdaq, lots of halted trading
https://www.nasdaqtrader.com/trader.aspx?id=tradehalts

[te_fern]

Made a couple of trades for pennies, time to stop!! LOL!

[Al_Dente]

Interesting note: INTC is just 1.04% weighted in the dow
https://www.indexarb.com/indexComponentWtsDJ.html

[BullBear52x]

Wait for new sell setup, a failed breakout it will be fast and furious to retest the low. auction house theory. will see.

[BullBear52x]

Me chasing up not so much, chasing down oh yeah......

[Cobra]

The pullback means it's just a range day, now perhaps near the range low if not already.

[BullBear52x]

If there will be a down trend day, this is it. LL needed, sell at MA resistance. same playbook day in and day out.

[Al_Dente]

SPY backtesting that breakout
At the moment, 60% of issues on the NYSE are advancing (compared to roughly 65% at the intraday top)
Options traders are easing up on their call buying
5min

[BullBear52x]

[Al_Dente]

View from the short side, juiced
SHORTS
Percentage-wise tech is the best short here today (SQQQ, black)
VIX shows puts are quite strong
5min

[BullBear52x]

Bears not done yet.

[Al_Dente]

NEWS
Powell reiterated that inflation is well above target but the taper is on track to begin soon and end by mid-2022.
He did note that "it's time to taper... not time to raise rates..."

[BullBear52x]

it's Friday, done done done. Greed kills. Peace!

[Cobra]

Testing yesterday's low with volume surge so should be a rebound here first then we'll see. Cannot say this bear shall have legs as it could be a classic breakdown then sharp reversal up.

[Cobra]

Members only update at 12:11 pm
http://www.cobrasmarketview.com/2021/10 ... ay-update/

[BullBear52x]

Chart for the road: negative D, if we closed here. 4450 (cash SPX) should be expected. now that the reversal candle at the overbought level is clear. daily trend following RSI(5) is not yet trigger sell the rip soooo....still in an early stage of short term trend reversal. be careful out there, have a good day mate!. Peace!

[Cobra]

It's the bear's last stand here to prevent another V reversal.

[Cobra]

The pullback probably will be bought. It's a V reversal again.

[Cobra]

Members only update at 3:50 pm
http://www.cobrasmarketview.com/2021/10 ... ay-update/