Cobra's Market View

fehro wrote:dailies a tad iffy..

boss if we closed here, that's the worst candle in eleven days, and some kind of "reversal day" on spy and indu
no?

He’s been “de-risking” for quite a while now, but this morning on CNBC:
Gundlach: "I'll Be Disappointed If I Don't Make 400% On My S&P Puts"
Click bait: guess what he says will be the big signal from his “favorite indicator”
http://www.zerohedge.com/news/2017-08-0 ... my-sp-puts

Al_Dente wrote:

fehro wrote:dailies a tad iffy..

boss if we closed here, that's the worst candle in eleven days, and some kind of "reversal day" on spy and indu
no?

+ shooting stars, gravestones with VIX hammer.. short term top in .. possibly

Zero again market will reverse
4x3 so far...
... someone is testing the market first dax now spx interesting
Another vix false signal ?

Time for the ETF balancing moves. Can they save this train wreck from across the board all time highs with red closes. Not quite bearish engulfing, but certainly the next best thing unless they switch on the algos and hammer the VIX.

Wait the ES has made a new low below yesterdays. BEARISH ENGULFING ACHIEVED.

Right now we have a guaranteed “reversal day”
Depending on the close, it could be a “Key Reversal Day”
We saw two of those in June, followed by a teeny decline of ONE DAY EACH [better double check me].
“The pattern is supposed to act as a reversal of the uptrend. However, testing shows that 51% actually continue higher”
http://thepatternsite.com/KRU.html

Pasta Boss, with all respect, are their numbers with all time high involved? This really smells like classic exhaustion at the top.

VIX is up 80 cents off the low.
Animal house, "All is Well" https://www.youtube.com/watch?v=zDAmPIq29ro

vol surge, should be a rebound here first then we'll see.

fehro wrote:

Al_Dente wrote:

fehro wrote:dailies a tad iffy..

boss if we closed here, that's the worst candle in eleven days, and some kind of "reversal day" on spy and indu
no?

+ shooting stars, gravestones with VIX hammer.. short term top in .. possibly

15 minute chart including last week.

Trades with cats wrote:Pasta Boss, with all respect, are their numbers with all time high involved? This really smells like classic exhaustion at the top.

The most I can agree with is that going back a couple/few months, almost every time SPY made a new high she had to relax a bit to digest it, and by “relax” I mean down, sometimes shallow, a couple times deeper
luv u
[edit: shallow = 1 spy point, deeper = 5 spy points, but all “recency bias”]

could be an ugly am tomorrow...

The wave counters are expecting a 30 to 40 point pullback in the ES. I am more nervous than usual because the Central Bankers are changing the rules of the game, and have been very loud and very consistent on that message. At the same time we are at all kinds of multi-year records for weird market behavior. However this could be just another one of those flag pole all time highs that we seem to get routinely where we screw around for a month or two waiting to retake it.

well, guess that's it for today. Wednesday tomorrow was up 6 straight recently. thank you guys, I'll see you tomorrow.

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

WOW a red dow
that's fresh
but not a "key reversal"