Cobra's Market View

the end of triangle.

guys my day is done more than 60pt in dax , great weekend to everyones, hope SPX don't spoil DAX, bye.

fehro wrote:

fehro wrote:INDU very happy.. gaps up to nATH .. again.. everyone else.. flat..
nibbled short on SPX in the pre-market *2476.5 .. 2465 to the downside key.. it goes. looking for 2438ish.
SPX gaps up to fill yGAP

Cover 1/3 + $4.00

reload short

it's ZH.. so yeah, doom and gloom etc etc but fascinating the closes on SPX .. something is up.. either selling this level or buying.. consolidation.

http://www.zerohedge.com/news/2017-08-0 ... lash-crash

Everybody off for the w'end? ES stuck again in the middle. Intraday triangle is coming to an end point now - bias up?

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Waiting for another headline with pics about hedge fund employee renting Hamptons palace for movie quality pool party. Wouldn't be summer without it!

Watching this pullback in the Semi's for a possible reversal...

Biotech's, one of the few things still going up....

I don't know if anyone else listens to Futures Trader 71's 9 AM morning pre-market pep talk https://twitter.com/FuturesTrader71 today he went long to make a couple of points towards the end. First he showed what was going on with the level 2 bids around the jobs report release showing with his fancy software how horribly algo infested the ES has become. He then talked about that he has his staff looking at other markets that are not as totally over run by the computer traders. He like the NASDAQ and the new Russell 2K contract where they don't nick you $80 a month for data feed.

He also had a nice rant about how nobody is making normal money in this flat market. His advice was to not go looking for a new trading style but instead just keep refining your craft so that you can execute perfectly on your plan because the market will come back.

Anyway, interesting points from person who runs a trading shop.

Soo close to green and VWAP sitting there at 2473.25 you know the bots are going to unleash the ramp express to save the week.

Trades with cats wrote:I don't know if anyone else listens to Futures Trader 71's 9 AM morning pre-market pep talk ...

If trading futures I think even xperienced traders should listen to his trader bites - FT71 has a gift to explain stuff in a way that generates a lot of aha moments. It's FREE ! and 10 levels above any expensive guru junk.
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well, guess that's it for today. Monday has been bull friendly generally. thank you guys, I'll see you in another thread soon.

please don't forget our weekly sentiment poll which will be posted right after the close.

before the close, please take a little time to vote for me, thanks. https://stockcharts.com/public/1684859/tenpp

The thorn in the bull's side .. IWM weekly

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