Cobra's Market View

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need see more bars.

members only update starts here: http://www.cobrasmarketview.com/2017/10 ... ay-update/

This was the second night in a row where the market traded at or below the open gap. Last night the Asian session closed it then London/Frankfurt moved it up to to establish the range we are in this morning.
PS I hate it when we do daylight savings especially because Britain and the Continentals change three weeks before we do and I don't want to re-due all my charts!

Indexes calm - ish.. VIX is not.

Bulls really need to put in a double bottom here. Could be we wait around for the oil inventory as a catalyst as it is supposed to be drawdowns across the board. After all with those middle class tax cuts just around the corner people can afford to pay a little more to fill up their brand new F-350 club cab long bed dually.

TICKs are starting out on a dive down today!!

Buckle up!

Bears winning for now, that was an ugly drop through the low. Small caps have joined the party.

SPX has fallen thru pivot support #2, so I'm guessing it is headed to the 8 day low of approx 2548...

Can the levered smalls find support at the Oct 19 lows?

Same chart with volume profile consolidated for last week as well. Shows where the significant support could be. Of course the pros all say any down move could lead to a panic or just trigger the dip buyers for a launch to new all time highs.

Small Cap futures saying October needs a do over!

Trades with cats wrote:

RTY 12-17 (15 Min) 10_25_2017.jpg

Small Cap futures saying October needs a do over!

You are right, smalls have done nothing in October!!!

this bear may have legs.

Waiting for a trigger for the dip buyers. The pros have been saying that a 3% pullback (that would mean about 2500) would trigger a selling panic with the volatility traders and rapidly double or triple the drop. Don't see any danger of that right now.

Wow! Sure wasn't expecting another wave down. Need the London/Frankfurt markets to buy hard into their close to get that elusive dip buy started!

Getting close to that 2548..... Need the dip buyers to come in...