Cobra's Market View

These sharp up moves are fueled by short covering, need to attract more selling.

From Liz Ann Sonders before the open (Spokesperson for Schwab) 8.10% (intraday), 4-session drop from all-time high 2nd most severe in history of S&P 500; a near-perfect match with median magnitude (-8.2%) of all 5%+ selloffs (222 of them) in history of S&P 500 going back to 1927 @csm_researc...

RYFO- 30 points in 15 minutes counts for me as a rip your face off if you are on the wrong side.

Everybody who tweets is either long or ready to jump on for the big time relief rally up move.Like to say no way but sometimes the crowd is right.

Gold I saw a tweet that the Bank of International Settlements had OKed some sort of gold selling this afternoon. Disclosure- I do not follow currency markets. Common sense says if you are a lesser developed country dependent on tourism and labor intensive manufacturing for foreign currency (Thailand...

There are two types of traders in the world, those who think the market reacts to headlines and those who see that they find a headline to explain the market. ;) Both types agree you have to trade the market that is in front of you. At least in the olden days of live floor trading they could figure ...

Tight little double top at 2:00 woth a drop to a higher low now moving on up. Late enough in the day this could be "The " up move hunting VWAP.

Still waiting for for a big bounce. Perhaps this is the one.

Need the CNBC crowd to buy the dip with everything they have. Waiting for Crashkari to say yes the Fed will start directly funding long only leveraged hedge funds

In the mean time is that a bottom I see forming?

Appl this weekend analyst posted 3 scenarios for various delays on the new model roll out. Of course the longer the delay goes with reduced Chinese market sales.

Bar Charts is the best I have done for showing current open options positions on the index'es and the futures. But they don't show everything, just chuncks by type, 3 month options, monthly, weekly Monday expiration and Wednesday expiration.

Tin foil hat crowd would claim this relatively small pullback will re-set the markets for the next leg up as well as fully funding the pre-election cash needs of the Treasury Department while clearing out the broker dealer's inventory. Also somebody has to mop up all the US treasuries the PBoC etc a...

Any bets on whom the White House sends out to calm the markets today? Certainly not Kudlow, Doctor Evil junior was already being a bad guy beating up the Chinese so I am thinking Wilbur.(in my best imitation of Mr Ed the talking horse)

SPY, IWM right AT daily VWAP now. QQQ is still a bit above. VWAP bears watching on an active day like today. ..quick update: all three now clearly below. Usually I totally agree on VWAP, but right now with Tim Apple going down etc. I am wondering if VWAP has lost it's ability without a lot of buyba...

6th test of this level since 4 AM Eastern. The 7 AM test moved through to 3265 ES, so that looks like the line in the sand for now. My best guess is since the European time zone traders had the big panic attack the bulls need to wait for them to go home in another hour.

FT 71 said no point in giving scenarios today. He plans on selling the pops. Warned everybody to make sure you have full margin in your account and not use regular game plans.

https://www.zerohedge.com/markets/bofa-so-bearish-its-bullish-here-are-signs-top-near Bank of America's Harknett had a follow up to last week's block buster. So party like it's 1999- "So does that mean that nothing will ever drop again? Not at all, and as Hartnett says the "Q2 catalyst for...

Bear warning from Coolbiz -

ES/SPX targets are 3245-3200-3145, needs to go below 3303.50 on close basis. If this level is not taken out beware, bull trend can extend higher.

Yes I saw the return to work videos. Also saw that companies are telling people they can not afford to pay them. Going to be an interesting outcome. I will be waiting for results as I do not think words are enough in these unknown waters.