Cobra's Market View

Today was the heaviest volume trading day for SPY since the pandemic began in spring 2020.

I'm still 100% cash. Pondering this drop. Have had some other people I now say a big crash is coming. have you guys heard such sentiment? what could cause that?

BullBear52x wrote:Lets fill the gap and move on.

nice head and shoulders. November 5th is first shoulder.

There was a 90% chance of a down year in tech based on the fact it posted back to back 40% annual gains. This still might come true. Moon cycles favor bears until just prior to the Santa Claus rally. The markets are predicting new lockdowns which have yet to be announced. Oil down $13, nat gas down...

It's been a long time since we've seen so many new 52-week lows on the nasdaq AND ON THE NDX WEEKLY Screenshot 2021-12-02 125800.jpg the bull case in that NALOW chart is that the price of QQQ has yet to confirm the NALOW breakout. The last time NALOW broke out in spring 2020, QQQ clearly broke down...

Covid news is overwhelming technical chart patterns. CNN announces first Omicron case detected in CA. market immediately drops hard. Just imagine the first omicron DEATH reported. https://www.cnn.com/2021/12/01/health/us-omicron-variant-confirmed-case/index.html First confirmed US case of Omicron co...

Head & Shoulders odd looking but it's still there targeting (cyan) a test of the Oct 27 low 60min There we go... testing the cyan box target ... that Oct 27 marker we'll see how that goes I'm going to erase all the cyans now, and just leave the horizontal cyan test of Oct 27 Screenshot 2021-11-...

The big news today is Moderna came out and was skeptical the current vax would work against omicron. That brought in fears that we need to wait until a new vax is engineered and then revax everyone all over again over a period of months, which could lead the Biden admin to use economic pressure on t...

to be more specific, Biden says he expects all Americans to get vaxxed so no more lockdowns. In other words, he's gonna wait a few weeks and then say "Shame on Americans for not getting all vaxxed, welp here's your lockdown".

https://www.youtube.com/watch?v=DhBzWmtJ9DE

Al_Dente wrote:POTUS at the podium now
no shutdowns

Biden just said to a reporters question, "no lockdowns...for now". so basically when omicron spreads they will lol.

sold everything. 100% cash. Have to believe this is a major correction due to omicron. it doesn't matter what the science is, the current administration has clearly signaled since it took office that it will take maximum precautions against the virus. so i expect shutdowns.

from the totally unprofessional desk:

it feels like the noob trader is always wrong. most noob traders ive read firmly believe this is nothing but a buy the dip situation. So that means omicron is the real deal and were about to see another major crash and the world go into lockdown again.

And as typical in those waterfall events, they are very rare, and EVERYONE is bearish at the bottom.

QQQ was down like $2 in 15 minutes. That's a waterfall event. As soon as downward momentum broke, it was gonna gain it all back. The bounce is in progress.

QQQ is like "here, make a fortune, go long right now". Sitting at 175.66.

Going HUGE long general market now. This is really nice. There are bears all over the place and no bulls in sight. Haven't seen this in a while.

...crazy new indicators.. should I trust them? Trust all new indicators implicitly-- until they fail. :) Crazy.. they react like a speedometer.. constant motion.. kinda cool.. can see spike in buying pressure They should sell a gas pedal attachment for your computer and then you can floor it and ma...

Shut blog down,no need we are never going down again.Waiting for missile launch so we rally another 30 SnP points The market may not have dropped BUT it consolidated / stayed flat from late 2014 - late 2016. TWO years. That allowed the market to digest the gains from the 2011 correction and work of...

fehro wrote:wholly VIX !! 8.9

1. We haven't had a 5% correction in 2017.
2. The period from the election to today is the biggest bull run in US history (no corrections for 9 months).

VIX is just reflecting that.