02/17/2023 Live Update

[Cobra]

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Testing the previous low, let's see bulls can make it the range low here.

[JFR]

ES daily.

Trying for a breakdown out of the base it has been in for 13 days.

Hanging on the EMA 20 for dear life.

[JFR]

ES 60 minutes.

The big drops on the roller coaster market.

Down through R1, through the Pivot, through S1, until if finds support at the 4064 level.

[JFR]

ES 5 minutes.

Ups and downs, yes, but lots of chop. Not the nicest market for day trades.

In the pre-market.

[Al_Dente]

"Market volatility is making a comeback as traders eye any mention of the word "inflation" like a deer in the headlights. Stocks fell on Thursday following the release of January’s producer price index, with wholesale costs coming in hotter than expected. It wasn't the only thing causing jitters. "My overall judgment is it will be a long battle against inflation," St. Louis Fed President James Bullard told reporters, while the Cleveland Fed's Loretta Mester even saw a "compelling case" for a 50-basis-point increase at the central bank's meeting two weeks ago. Elsewhere, initial jobless claims continued to point to a tight labor market, further evidence that higher interest rates have yet to significantly dent the economy. Taking all of the developments together, stocks aren't pointing to a better open this morning, with further losses expected on Wall Street.

[Al_Dente]

8:30 Fed's Barkin Speech
8:45 Fed's Bowman Speech
10:00 E-Commerce Retail Sales
10:00 Leading Indicators

[JFR]

Source:

https://www.cnn.com/2023/02/16/business ... mer-prices

Excerpts ...

Not my opinions in the excerpts. Not my data. The Smilies are mine, especially the one for Kit Kat. Ha ha. Ferrero Rocher and Lindt also.

London

CNN

Nestlé, the world’s largest food group, says the price of staple items will rise further this year, adding to a string of warnings from consumer giants of more pain to come for stretched households.

The maker of Nescafé coffee and KitKat chocolate bars increased prices by 8.2% in 2022, but said this was not enough to offset a rise in its own costs, which had dented its profits.

“We are still in a situation where we’re repairing our gross margin and, like all the consumers around the world, we’ve been hit by inflation and now we’re trying to repair the damage that has been done,” Nestlé CEO Mark Schneider said on a call with reporters Thursday.

Price increases will be “very targeted” and only implemented where “input cost inflation justifies that,” Schneider added, although he declined to say which of the company’s 2,000 brands, which span frozen food, confectionery and baby formula, would be affected.

Nescafe

Kit Kat

2023-02-17_06-28-19.png (273.9 KiB) Viewed 2610 times

Unilever (UL), Coca-Cola (KO), brewer Heineken (HEINY), Colgate (CL)-Palmolive and Procter & Gamble (PG), which makes Pampers nappies and Pantene shampoo, have all flagged further increases in the prices of their goods this year, as they grapple with elevated commodity, energy and labor costs.

The costs of raw materials such as energy, dairy products and grains remain high, even though they have receded from their peaks. Labor and logistics costs have also climbed. That means prices for goods in stores are unlikely to fall any time soon.

“We’re probably past peak inflation, but we’re not yet at peak prices,” Unilever’s chief financial officer Graeme Pitkethly told journalists on a call last week.

On the subject of chocolate, here is a particular favorite.

[jademann]

I went flat selling SPXU at 14.14.

Anyone remember and miss Olde Jamaica choc? Cant believe its no longer available..
https://www.bing.com/images/search?view ... ajaxserp=0

[JFR]

I went flat selling SPXU at 14.14.

Anyone remember and miss Olde Jamaica choc? Cant believe its no longer available..
https://www.bing.com/images/search?view ... ajaxserp=0

I have never heard of it before. First look indicates it might be available on amazon.

I would try it, for sure.

61fvz41zY0L._AC_SX466_.jpg (18.7 KiB) Viewed 2584 times

[jademann]

Wow looks like they brought it back, nice to relive childhood memories!
https://metro.co.uk/2020/01/04/cadbury- ... -12000113/

[Cobra]

Members only update at 10:06 am
http://www.cobrasmarketview.com/2023/02 ... ay-update/

[JFR]

ES 5 minutes.

A good move for day traders. I missed it. Was researching chocolate. Ha ha. Chocolate is worth it.

Back later ...

[BullBear52x]

/ES looking down 4030.

[Cobra]

Testing day low, wait to see whether bulls can make a double bottom.

[BullBear52x]

Daily dip buying incoming. the next buy setup on daily trend following will be very critical to set our mind to. key interception on many key TA supports that bulls will have to defense at all costs. will talk more on that this weekend. if you are bullish, you want this discount. the lower the better.

[BullBear52x]

My Red line, today will be a miracle to have a positive reversal, sideways to down is my expectation, last time I checked market doesn't care what my bias is.

[jademann]

Flat. VIX is still not breaking out.
EMAs say buy UPRO but I dont do that.
https://stockcharts.com/h-sc/ui?s=%24VI ... 0599455137

[merryme]

Chart I follow, you've seen it before, self-explanatory....

[Cobra]

Touch the blue line below again then breakdown would be more likely.

[merryme]

Trading at the edge....Low risk....