02/04/2021 Live Update

[BullBear52x]

Fading the top, very close to 2x top. RSI still not as ripe. maybe Friday special is on the Menu?

[BullBear52x]

I am back on the south bound train now, Choo chooo

No rip come2papa setup, a little rush but I can feel another 5-10 handles awaiting to be had.

[BullBear52x]

Looks weak, MA support will not hold up if selling wave comes in this time. fingers cross.

[Cobra]

Members only update at 12:12 pm
http://www.cobrasmarketview.com/2021/02 ... ay-update/

[Al_Dente]

TRIVIA UPDATE:
SPY top holdings as of 2/3/21: AAPL 6.62%, MSFT 5.68%, AMZN 4.37%, GOOG and GOOGL combined 3.77%, TSLA 2%, FB 1.98%. BRK/B, JNJ, JPM.

Sector weight as of 2/3/21: Information Tech 27.86%, Health 13.34%, Communication Services 10.97% (XLC = overweight FB and GOOG which are not in the XLK), Consumer discretionary 12.97% (XLY= overweight AMZN and HD), Financials 10.44%, Industrials 8.12%, Staples 6.09%, Utilities 2.70%, Materials 2.59%, Energy 2.48%,Real Estate 2.44%,

NOTE: All non-Tech sectors combined (health, financials, industrials, staples, utilities, materials, real estate, energy), add up to roughly 48% of SPY

[Trades w 2 Cats]

Headline number in the jobs report is annualized using an adjustment factor for seasonal variation. December and January are usually waky because of holiday season hiring and then layoffs. On paper all the adjustments are supposed to net out to zero over the course of a year. If it were me I would be careful on December so that January wasn't ugly. Raw data is buried in the report but looking at that is a level reporters don't bother with these days. Since the market is running on stimulus prospects, not earnings these days you would expect bad news to be good. Need motivation to get that $1,400 out of congress and into the Robinhood accounts.

[Al_Dente]

IWM
potential double top
potential ATH

IWM breakout to ATH
and boom it's an intraday scalp sell

[Cobra]

$GLD, did I mention the common pattern for a bottom therefore looked missing another test of the low? Here's the test. Time to watch. Printing money will be the new normal among center banks, I believe $gold will be shining in the long run.
viewtopic.php?f=2&t=4399&p=291437#p291437

Cobra, I think you should also watch $SILVER as it will probably outperform $GOLD.

Yes, I'll consider silver as well.

It's now back to the support, maybe a rebound is due soon. Silver right now is range bounded.

[Al_Dente]

[NOT MARKET RELATED]
Jeff Bezos
See all of his homes:
https://nypost.com/article/jeff-bezos-h ... portfolio/

[BullBear52x]

3rd push up, I should say melt up. bears were so wrong today or do they?

[Trades w 2 Cats]

Danger Will Robinson

Fail in here will look like a double top failure. Really need a big push up into the close.

[Trades w 2 Cats]

Last 30 minutes struggle with lots of wicks and tails, direction is up but looks like coasting on vapors.

[Al_Dente]

note new IPO today:
SANA

[Cobra]

It's the 2nd test of the EMA20 now, let's see any buyers here.

[Al_Dente]

note weed:
MJ

[Al_Dente]

"Citadel Is Paying for Order Flow from Nine OnLine Brokerage Firms – Not Just Robinhood"
Robinhood, E-Trade, TD Ameritrade, Charles Schwab, WeBull, Ally Invest Securities, First Trade and TradeStation. At Fidelity Brokerage Services, it was directing stock and option orders to Citadel Securities but was only receiving payment-for-order-flow on the option orders
https://wallstreetonparade.com/2021/02/ ... robinhood/

[JFR]

SPY 5. After riding the EMA 20, now trying to push down beneath.

[BullBear52x]

the battle for 5 handles is brutal, LOL, this is the most no show no volume day. if /ES can make it to a million contracts will only be of a sell off if they need volume.

[BullBear52x]

"Citadel Is Paying for Order Flow from Nine OnLine Brokerage Firms – Not Just Robinhood"
Robinhood, E-Trade, TD Ameritrade, Charles Schwab, WeBull, Ally Invest Securities, First Trade and TradeStation. At Fidelity Brokerage Services, it was directing stock and option orders to Citadel Securities but was only receiving payment-for-order-flow on the option orders
https://wallstreetonparade.com/2021/02/ ... robinhood/

That's how they can offer free commission. no free lunch, we pay for futures commission transaction.

[BullBear52x]

Back in the day $20-25/ transaction, plus # of shares trade. later flat fee up to 5000 share, then $9.99, then $5.99, and now FREE

Free cash from government, Free trading commission, how could you stop this madness?