Cobra's Market View

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mini rebound target 2445.75, if it cannot reach there then maybe more down ahead. if it can reach there then it's the first good sign for bulls.

members only update starts here: http://www.cobrasmarketview.com/2017/08 ... ay-update/

Reported that overnight volume was 4 times normal and roughly half of yesterday's day volume. So the drop to fill the last major July gap (overnight low 2430 ES) I do think should count. Looks like buyers came in big time with a strong move off of the 2430 double bottom.

Oil- Société Générale reporting that (3rd hand from Twitter) oil producers are not waiting for further price improvement but are locking in hedges now. Duh, 50 bucks is break even and the banks want to get paid next year. All the hurricanes coming into the gulf should temporarily cut back on imports before the refiners turn it down for the fall switch over so perhaps unpredictable inventory reports with strong selling by shale drillers. Who knows if the hedge funds are going to get in trouble elsewhere and have to dump oil positions to raise cash.

bouncy bounce time $RUT tags 200d SMA lower channel

Gm

Market still very dangerous !
Good weekend to eveyones and dont be stuck ...
... probably a yesterday similar candle could be in play

mind the 50d/20d SMAs.. VIX daily .. way way way too early in the day.. but toppy… possible quiet range day? Typical Friday after a big move ?

TF fut's looking positive at the 350 tick level. Nice move up off the night low and the half way point on that move has now been tested twice and held. Waiting for selling pressure to subside and then up we go would be my current theory.

fehro wrote:bouncy bounce time $RUT tags 200d SMA lower channel

Certainly does look, to the naked eye, like a low risk swing entry zone.

ES yesterday's VWAP 2448 is also the 20 day ADR high level, just say'in makes a tasty target.

5 day, 5 min, percentages

True or false?
When folks are scared (of war, for example) they tend to buy gold
Okay then, let’s line up GLD with the others during the 2008 crash
RELAX, THIS IS JUST AN EYEBALL EXERCISE NOT A PREDICTION
GLD is in thick gold for comparison, percentage, weekly, 2007-2008

2008 was different, these time options betther
Vix is the best indicator why not big drop as last moves what is on the cards in the next days ???

Bots confused again ...bombs droped !gl

TRANSports takes out yHOD.. full reversal of yesterday

heat map
out of banks, into tech
http://finviz.com/map.ashx

POSTED YESTERDAY:
Interesting that on the way up the heat map was red green, with rotation out of X and into X
And the AD was often plenty of green volume in a handful of issues (narrow buying)

Now on the way down the heat map is almost all red
And the AD shows plenty of red volume in plenty of issues (broad selling)

Just supposing we were all based out of London/Frankfurt and it is almost time for Cobra's end of the day message. Well http://finviz.com/futures_charts.ashx?t=INDICES&p=m5 you would be hard pressed to have not had a good day. So I am thinking they will be taking their nice day profits off the table and heading out to a decent weekend.

beware of possible higher low therefore the low was in. just some chances.

Al_Dente wrote:out of banks, into tech

15min timeframe, of the major indexes, QQQ is the first (only) to have the 20ema flatten--the others are still strongly downslope.

ES still moving around inside the Fib retrace zone of the morning run up that started at 9:50 EST or so. My momentum indicators think it's the weekend, they are flat (must be lounging around a pool, as it is still really hot and smokey in the intermountain west).