Cobra's Market View

Cobra wrote:members only update at 12:10 pm
http://www.cobrasmarketview.com/2017/06 ... ay-update/

WOW

Those $VIX-futures traders, VXX and UVXY are very bear-spy today

eg: VIX is up 20%, and UVXY is up 10%
[edit: FYI: VIX was still in contango last night]

Even the banks can’t stop today’s train wreck………….. yet……….
Most of those gap candles turned black, black as night
Daily

Al_Dente wrote:And yes, the bears took control of the AD (on weak-ish volume)
NY declining stocks = 2.4 x advancing stocks
NY declining volume = 1.2 x advancing volume
Nasdaq declining stocks = 2.5 x advancing stocks
Nasdaq declining volume = 1.6 x advancing volume

NY declining stocks = 3 x advancing stocks
NY declining volume = 1.5 x advancing volume

Nasdaq declining stocks = 2.5 x advancing stocks
Nasdaq declining volume = 2.2 x advancing volume

Time to end monday plan time to dip

Shite I’m hogging the board again
Where is my old buddy Bullbear52x, boy do I miss him
Where is the Fern, I like his stuff

Al_Dente wrote:eg: VIX is up 20%, and UVXY is up 10%
[edit: FYI: VIX was still in contango last night]

$VIX is up 30%, and UVXY is up 19%

fehro wrote:

fehro wrote:be so careful.. NDX "could" waterfall today.. QQQs under $138 ish with conviction.. look for $6.75 dollar drop.. fast ish

look to 50d SPX if we start to move fast 2409 .. that's 20 points from here

almost there 2 points

now maybe it's safe to say this bear shall have legs.

HUMOUR BREAK:
In related news: semis rollover, pigs get caught
“Pigs are everywhere”
http://www.cbsnews.com/news/hogs-escape ... overturns/

fehro wrote:

fehro wrote:be so careful.. NDX "could" waterfall today.. QQQs under $138 ish with conviction.. look for $6.75 dollar drop.. fast ish

'IF" QQQ breaks 138, 137.80 with conviction aka sharp drop under.. with volume target open gap 133.80-132.60 then 132.43.. horiz support.. H&S target iffy.. 131.40

SPX 2405 May highs.. support zone 50d support here 2408.80

Cobra wrote:now maybe it's safe to say this bear shall have legs.

What is your target?

Might be a decent spot to go long here, if you have spare funds.

MrMiyagi wrote:Might be a decent spot to go long here, if you have spare funds.

XLF coming up, strongly, from its major gap-fill of this morning..

From the blogosphere:

"All five FAANG stocks (FB AMZN AAPL NFLX GOOGL) are now below their 50-DMAs, for the first time since 2/16/16."

fwiw

fehro wrote:be very careful today.. potential crash move.. NDX on such key level and a huge cliff.. Put/Call at extreme, TRINs has been active weird last 2 days… could see a very sharp crash move down.. be ready.. fwiw.

wasn't that fun!

Three months ago, GS said that the Fed appeared to have lost control of the market.
Two months ago GS doubled down, and asked - again - if Yellen has lost control of the market, and warned that only a "policy shock" may be left to normalize the market's "reaction function"to what the Fed was saying... and doing.
Now, moments ago, St. Louis Fed President James Bullard effectively confirmed that Goldman was right:
FED'S BULLARD SAYS FINANCIAL MARKET REACTION TO MARCH TIGHTENING HAS NOT BEEN GOOD, WOULD HAVE EXPECTED YIELDS TO RISE WITH POLICY RATE
FED'S BULLARD SAYS NEED TO CREATE POLICY SPACE IN GOOD TIMES IN CASE NEED MORE QE IN FUTURE

Spy suffers 2nd reject at the 5min 20ema today

IWM dancing just above and below its 20day MA here (ca140.50)

Bouncing back strong