Cobra's Market View

Ah, but Greenspan was actively creating bubbles. Yellen has inherited and is verry slowly trying to let the air out of the debt super cycle.

Freddie Mac: "if rates continue their upward trend, expect mortgage activity to be significantly subdued in 2017."

Lets see, three more quarter point rate increases would do it for sure, no wonder homebuilders are so optimistic.

2nd chance at a double bottom for small caps, but the chart is looking like a three push up right now.

Daily SPY:

I'd short more right here if I wasn't fully short. Just riding out this pop.

1st test of ema20 in 2 hours, should be some buyers around.

If this pop ends at 11:30 then you know it was London moving money out of euro, Not smart enough to show DOW since election in euro's but it has to look like a super bull.

So far it was only a one day plunge

DXY nHOD.. again 103.55!! mind your oil.. it's only a matter of time..

Trades with cats wrote:If this pop ends at 11:30 then you know it was London ...

11:30 in which time zone?

It is 11:56 EST currently

Edit, understand now ...

I think SPY will be several points lower by monday. This shouldn't be a one-day plunge. There is latitude for a green day today.

Correction in time not in price. trading consolidation pattern.

RATE WATCH:
At a certain point, higher rates start being too stressful for long equities
(for example: Freddie Mac: "if rates continue their upward trend, expect mortgage activity to be significantly subdued in 2017."

10 year treasury yield $TNX, possible stress point:
SocGen: 2.60%
Goldman: 2.75%
JPM: 2.75%
Gundlach: 3%

Today $TNX hit 26.21 (2.62% yield) and pulled back a smidge

Bored?
Trump Grill is trending on twitter
Oy

SPX .. minor H&S on the 5m .. target 2260

Plan your trade and trade your plan.

this is my plan for now. a bigger time frame than intraday. Descending triangle?

Heikin-Ashi fan = Sell or stay out.
Elder impulse system = stay out.
Candle = bearish stick sandwich

summary = Bearish bias, flat to down.

Silver lunchtime lookin. Daily.Stochastics @ 18 and after 30 handles I am out. Better safe than sorry. Bad Chinese bonds? I don't know but something broke somewhere. Vote Cobra, glta.

sell /es 2263, I wasn't going to trade today, first trade today.

Al_Dente wrote:RATE WATCH:
At a certain point, higher rates start being too stressful for long equities
(for example: Freddie Mac: "if rates continue their upward trend, expect mortgage activity to be significantly subdued in 2017."

10 year treasury yield $TNX, possible stress point:
SocGen: 2.60%
Goldman: 2.75%
JPM: 2.75%
Gundlach: 3%

Today $TNX hit 26.21 (2.62% yield) and pulled back a smidge

then again...maybe tar baby lurks.