Cobra's Market View

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not sure, maybe the rebound would be sold around here?

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

Mind the open gaps 20d 2262.25

Any news that caused the quick drop in /ES and pop in the VIX?

JOLTS WAS OUT AT 10:OO

SPX holding green trend 60m.. still choppy.. IWM leads nHOD green all day.. INDU slips <20d SMA

/CL 60m breaks neckline H&S .. 50d closing in at 49.31

SPX still choppy.. but holds support/.. VIX a tad green..

From this morning. They are making the point that Libya is returning to a little less that 1/2 of their before 'liberation' output which cancels all of the agreed to Russian cut.

SPX goes for gap fill

COPMQ and NDX nATH

Some perspective from marketwatch which is owned by WSJ
http://ei.marketwatch.com//Multimedia/2 ... 1cc448aede

Small caps have moved several points above yesterday's high while the ES is stuck.

fehro wrote:SPX goes for gap fill

almost there…. NDX COMPQ nATH again

Oil yet another article on quota cheating. At Zerohedge this one says they looked at the loading schedule for next month for Iraq and they are continuing to increase production.

It really doesn't take a crystal ball to have foreseen this. The real question, and I am clueless about this, is at what point our highly leveraged 28 year old history majors realize they are holding $ 50 dollar contracts for something that last year was worth 40 at best this time last year. It is all based on faith in the Saudi word. I think the Saudi's and their close friends are going to have to step up and prove they will do what ever it takes to save the IPO before we get to "Sell Mortimer Sell".

CL end of January 2016 $29.78, end of April 2016 40.75 and here we are dropping to $50.

fehro wrote:

fehro wrote:SPX goes for gap fill

almost there…. NDX COMPQ nATH again

gap fill .. nibble small short.. not ideal VIX not making lower lows.

USO, chart speaks, no breakout.