Cobra's Market View

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no idea up or down here, need see more bars.

members only update starts here: http://www.cobrasmarketview.com/2017/03 ... ay-update/

Since the US dollar is a critical piece for determining the next move in gold prices, I looked at my charts for the US dollar and came up with a mixed outlook that is probably more bullish than bearish in the near term, but possibly bearish in the longer term. Commitment of traders is stll decidedly bullish for USD.

http://preciousmetalstrading.blogspot.c ... pport.html

Market waiting for health care vote?

johnnywa wrote:Market waiting for health care vote?

probably.

morning hourly hollow red.

On the Dorsey Wright P & F charts the NYSE turned to 0's yesterday, Some Bears are starting to wake up. Lets see.

Chart shows trouble could be ahead. Bears could be rising.

NY advancing stocks = 1.9 x declining stocks (bull bias)
NY advancing volume = 1.0 x declining volume (flat as a pancake, 1-to-1 volume AD to DA)

Up date on liquidity. Starting to drop but not enough yet.

SOX (semiconductor index) trying to regain the august 1000 level, currently just below..

this bull may have legs.

Intraday, both RVX and VXN (two BullBear52 favorites to monitor) are holding at relatively high levels, despite the current strength of price action.

This is probably ultra short-term buying of downside protection by institutions who want to hedge uncertainty emanating from Washington.

Al_Dente wrote:NY advancing stocks = 1.9 x declining stocks (bull bias)
NY advancing volume = 1.0 x declining volume (flat as a pancake, 1-to-1 volume AD to DA)

NY advancing stocks = 3.3 x declining stocks
NY advancing volume = 1.9 x declining volume
quick change to full bull bias
they are frontrunning a YES vote; all speculation at this point...

Al_Dente wrote:quick change to full bull bias, they are frontrunning a YES vote; all speculation at this point...

Not nec'ly speculation. A vote is not like a single-moment announcement of a datapoint-- the results of various informal canvassing sessions could be gradually leaked by insiders, as the data slowly accumulates.

The slow float upward today could be the result of such cumulative additions of trending sentiment among congressmen as their aides do their best to profit from what they are learning...

Naz advancers HOD here. >2000!

NYSE tick hod (per Schwab). But a tepid 690, not much above the low tick print of ca -600.

I added more to DUST today and continue to increase my positioning based on the analysis I've provided. DUST +6%, so hopefully the ride continues.

Daniel wrote:

Al_Dente wrote:quick change to full bull bias, they are frontrunning a YES vote; all speculation at this point...

Not nec'ly speculation. A vote is not like a single-moment announcement of a datapoint-- the results of various informal canvassing sessions could be gradually leaked by insiders, as the data slowly accumulates.
The slow float upward today could be the result of such cumulative additions of trending sentiment among congressmen as their aides do their best to profit from what they are learning...

thanks boss

SLV up slitely, GLD down a minor .4 of 1%... GDXJ down 3%!! GDX down 2.3%.

That's a large divergence. Especially with XLB (materials) up a small percent. What's with the miners..?