Cobra's Market View

Small gap down (well, relative to those days, it's small) but within yesterday's range so chances are the gap will be filled and usually the day after a Major Accumulation Day tends to be a small range day and usually there's a day or two follow through yesterday's huge rally, so I'll assume perhaps another green day today? Or at least the overnight highs will be attempted?

Morning Cobra.

Futures down 18 handles at the moment. That is quite a large gap down...still expect that to be filled todayyy?? I thought you were bearish biased today so why not yesterdays low tested first before high to turn into a green day.

Thanks so much

last few days market is like a casino, it's just unbelievable how it's jumping back and forth without no real reason/value change within that few hours, crazy market

Day's range (H-L) is said to be often around 1x the VIX value.

Is there news in Europe...their markets are moving down hard...driving our futures down.

Expecting a lower open and this will be my map:

AK84 wrote:Morning Cobra.

Futures down 18 handles at the moment. That is quite a large gap down...still expect that to be filled todayyy?? I thought you were bearish biased today so why not yesterdays low tested first before high to turn into a green day.

Thanks so much

Possible but for now the chart looks a little easier to test the high first.

IWM: deep technical correction coming.
Yesterday, on its latest move up, IWM broke an essential rule of Murrey Math: “NO more than 5 MM levels in ONE INTRADAY MOVE!!” It did 7!!!
Therefore, it has to correct.
One can try to find the bottom of this correction - in agreement with Cobra’s scenario.

nonabear wrote:Is there news in Europe...their markets are moving down hard...driving our futures down.

french downgrade rumor

the open.

this market is NUTS, stay away from it....

Today we'll have news from Treasury or i'm wrong?

alvian33 wrote:this market is NUTS, stay away from it....

No, we can't . We are addicted to this market. Coming back for more everyday.

Update:

uempel wrote:Update:

SPX12.png

where do u see us going today ? down ?

GM!

Morning Cobra, plus ppl I don't know
wave hands

i see some support around 1128.25-1129.5. overall i think it is oversold, but i am not sure whether the next movement is impulsive or corrective.
the market is beyond my understanding at this moment. i will just sit on hand and watering

not much clue about the market, hopefully this hourly bar is an exhaustion bar of some kind...

aimei wrote:Morning Cobra, plus ppl I don't know
wave hands

hmm, maybe in the future, guys in this form should wave different things to express self, such as:

wave hoofs or wave claws.