Cobra's Market View

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testing range low, wait to see any rebound here.

members only update starts here: http://www.cobrasmarketview.com/2017/06 ... ay-update/

DXY on the move.. mind gold an oill DXY 50d 98.50.. almost there

Gm

2430/1 key ?

Well not exactly explosive dip buying. I see three waves up from the bottom at 6:20 this morning. I am guessing the London/Frankfurt exchanges need to close before the dip buyers are unleashed, or just maybe the smarter money is going to sit out the triple witch because Denali isn't the only one who sees the historical trends.

Right but here is a good entry point imo but...

Wallstreetrader wrote:Gm

2430/1 key ?

mind the open gap just under… 2418 the line in the sand.. 20d 2418 it goes.. 50d 2392ish

fehro wrote:

Wallstreetrader wrote:Gm

2430/1 key ?

mind the open gap just under… 2418 the line in the sand..

great chart fehro, thought we have more ups, but mulling if we don't see 2446sp for quite some time?

brokebybernacke2 wrote:

fehro wrote:

Wallstreetrader wrote:Gm

2430/1 key ?

mind the open gap just under… 2418 the line in the sand..

great chart fehro, thought we have more ups, but mulling if we don't see 2446sp for quite some time?

thanks 20d/50ds indexes.. seem in play.. look for tags.. or loose support 20d goes.. then 50d?

morning hourly hollow red.

AD grizzly bear advantage at the open
has been slipping ever since

One of the wave counters I follow (coolbizone on twitter) has closed out his positions this morning as the moves over the last two days invalidated his short count then the overnight drop invalidated his long count. The other person I follow was warning Wednesday morning that it was a time to be cautious. Must be coming up on a triple witch and with low volume the big boys should have no problem nudging this market.

According to JPM there are $1.3T SPY options expiring tomorrow [trillion ]

Al_Dente wrote:According to JPM there are $1.3T SPY options expiring tomorrow [trillion ]

That has to be a LOT of premium to be harvested. No doubt the banks trading department has their battle plan in place.

Al_Dente wrote:According to JPM there are $1.3T SPY options expiring tomorrow [trillion ]

what going to happen


Sent from my iPhone using Tapatalk

bears in control now.

According to Gandalf at JP Morgan (in his note highlighted at zerohedge recently) the options insurance expiration tomorrow could free up the market for a return to volatility. He was pretty clear that the low volatility environment we have been experiencing is NOT the "New Normal".

Do over time for sure, bouncing off the 6:20 AM low, kinda do or die time for the dip buyers.