Cobra's Market View

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breakdown would be double top, key time.

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

it's 100% mm. so I won't surprised if dip buyers are buying aggressively here.

15min and 30min timeframes, SPY is trying to hold above the respective 200emas. (about 246.50 or thereabouts)

Question is, will it remain up? Descending 20ema line smashing it over the head like a scorned wife cracking a husband's skull with a cast-iron fry-pan.

IWM gap fill, and now green.

MrMiyagi wrote:Question is, will it remain up? Descending 20ema line....

20 period expo MA in what time frame?

Daniel wrote:

MrMiyagi wrote:Question is, will it remain up? Descending 20ema line....

20 period expo MA in what time frame?

Intraday, 5 minute.

Yes, it looks like the wife with the frying pan is winning out so far this morning!!

The TICKs support the weak action so far this morning....

QQQ testing Monday's opening gap level. Holding so far.

IWM still green.

UP/Down volume on NYSE and Naz is mildly bearish. Advancers are very weak on NYSE and fairly weak on Naz.

cracks in the foundation....expanding

ES just dropped at the ADR low 2452.0. Stopped it yesterday, open question today.

New York Times saying Gary Cohn is not happy with Trump, may resign. This could tank the markets as he's the one looking into tax reform.

At 142.25 or so QQQ will have given up the week's gains. IWM has already done so. SPY is exploring it's Monday gap, and has begun the descent...

Meanwhile, prec.metals are again strong.

as per yesterday…. shooting stars.. ugly candles yesterday -- viewtopic.php?f=2&t=2574&start=60#p243843

20 day ADR lows holding in both the ES and the TF, let the bouncing begin.