Cobra's Market View

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3 push up, still appears strong, so might be another push up.

members only update starts here: http://www.cobrasmarketview.com/2017/01 ... ay-update/

SPX gapping down to 2273.. mind the morning gap. bearish rising wedge 60m.

Overnight/weekend gap down.

"IF" SPX can't fill morning gap ...looking to Jan 3rd gap fill to 2248 with green 60m bull flag support near 20d SMA at 2260 key level today

TLT struggles at 50d 121.88… IWM super weak… NDX green thanks to AAPL FB nHODs . VIX 20d SMA 12.23 key

Support levels

/CL slips under 20d SMA 52.74, mind the H&S 60m.. neckline goes.. target 50d SMA at 49.26ish

EWZ Brazil doing well

I have no context for this but it usually is a positive.
Zerohedge tweeting "Genscape Cushing inventory -784Kbbl for week ended Jan 6."

trade the rumour sell the news

scratch that
trade the chart - sell the RORR

UVXY: 5:1 reverse split effective at the market open on Jan. 12, 2017 when the fund will begin trading at the post-split price.
A few other reverse splits (udow, sqqq) and forward splits (sco, tqqq) listed here:
http://www.proshares.com/news/2016-12-22.html

Hi Al_Dente, are your vol charts shows bullish or bearish for S&P and IWM?
thanks!

All those glorious highs Friday (except the dow and small caps and tran) and no follow through yet today.
Small caps are at a critical point, testing the bottom line support at 134.26 IWM
60 min SPY megaphone or “Broadening Top”
http://thepatternsite.com/bt.html

RARE H&S formation on the “Ratio of Small Caps to Large Caps” (bottom panel)
If we just treat it as a regular H&S pattern, it broke the neckline Friday
That is “risk-off” for IWM until it reverses

te_fern wrote:Hi Al_Dente, are your vol charts shows bullish or bearish for S&P and IWM?
thanks!

On my daily: 1/VIX is still bull-spy
On my daily: 1/RVX still barely bull-IWM; if IWM closes down today, it should flip

NY advancing stocks = 0.78 x declining stocks
NY advancing volume = 0.79 x declining volume
NY declining stocks = 1.28 x advancing stocks (down from >2x this morn)
NY declining volume = 1.28 x advancing volume

Bears were favored this morn, now its “chop” which is anybody’s game intraday

History suggests that the S&P 500 will continue to rally through Trump’s first 100 days in office [through the end of April] as six of the last nine (66.7%) newly elected Presidents were greeted with S&P 500 gains.
“The current rally has been solid, but there have been better.”
http://jeffhirsch.tumblr.com/post/15540 ... ts-through

Al_Dente wrote:

te_fern wrote:Hi Al_Dente, are your vol charts shows bullish or bearish for S&P and IWM?
thanks!

On my daily: 1/VIX is still bull-spy
On my daily: 1/RVX still barely bull-IWM; if IWM closes down today, it should flip

Thanks Boss!!