Cobra's Market View

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still could be a rising wedge. bulls are losing momentum which wasn't expected.

members only update starts here: http://www.cobrasmarketview.com/2016/11 ... ay-update/

SPX opening flat. Mind the close open gaps up and down

None direction

2x top, I will find excuse to sell, the relief rally pull back is due.

Yellen speech was released two hours early. So no fireworks this morning unless the Q&A gets intense. I have no idea if additional confirmation of Dec hike would be a reason for bulls to celebrate.

on a daily chart, nothing suggest to go shorts, just a warning from elder impulse system that it's due soon for a pull back.

SPX just 10 points short of ATH 2193.81

first negative D

this bull shall have legs.

I am on a southbound train.

janet live here:
her prepared statement has been released already, Q&A TO FOLLOW
http://www.zerohedge.com/news/2016-11-1 ... -live-feed

NY advancing stocks = 2.4 x declining stocks
NY advancing volume = 3.0 x declining volume

I never would have survived her lectures as an undergrad. Snoooze.

She is now talking about rates

DXY USdollar.. still holding up near HOD, HOW multi year highs

Silver/oil daily. Maybe up into opec meeting the 30th, then a time to front run eventual disappointment. Oil may hit 30's, if so you can see the correlation. Diamond up, diamond down?A break up is a play also. Bankster bop will no doubt set the tune though. Is the tune stale, a yellin fade today will be a tell; http://www.jec.senate.gov/public/index. ... D1274F4B99 Vote Cobra, glta.

Q&A started.

Mesmerized by the DRYS craziness. Resumes at 10:30.

Trainwreck.