Cobra's Market View

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double top or not, wait and see. my guess, more likely it's a measure move up.

members only update starts here: http://www.cobrasmarketview.com/2017/04 ... ay-update/

WOW~~ Slow

EIA petro coming up. IF they confirm the gasoline build from API then it could have an effect.

ummmm GLD .. was looking for some downside.. but that's bit fast

Zerohedge tweeting 3 billion notational dumped before the london fix. I thought the wicked witch (Blythe Masters) was flogging block chain after the fines to keep her out of jail were too much for Jamie Dimon to explain to his board.

PUT/CALL PCC 0.58 extreme… yet PCCE (equities) other extreme 1.10

Smalls (TF) diverging from the bigs (ES).

Second test of yesterday's high.

Looks like market lost its testosterone after EIA Crude inventory report came out. Sheesh, come on, grow a pair!

John kemp at Reuters has put together a nice set of slides explaining what is going on in oil and what the key unanswered questions are. Bullet points and charts
http://fingfx.thomsonreuters.com/gfx/ce ... 20ROAD.pdf

Support turning into resistance? At yesterday's high.

Hedge funds have been putting money back into oil. Not going well, either have the crowded trades of long dollar and short treasuries. Gotta throw something out of the balloon before the margin clerks call!

ETF's not helping much, apparently the public will only buy at the top.

On paper yesterday's low is just 2 points below the estimated daily range low. So an engulfing down bar is possible. Oh! Here comes the zoo keeper yelling 'Don't tease the bears".

would like more fear b4 a good bounce imo, maybe a quick move coming soon down to 2300sp levels to get it? impatient wannabe bull not likin the tape...pondering.....bull markets end in euphoria, was trump rally, greatest post election rally in 60 years, the euphoria??

IBM is 5.66% of the dow, ouch

WEDNESDAY BEIGE BOOK 3:00 PM

Reporting tonight after the close
AXP
EBAY
QCOM

Here are a few DAILY dot plots, proving once and for all that smalls are psycho (and that’s why we love them).

trading range, I am watching 2345 level, bulls can not lose it.