Cobra's Market View

MCCAIN IN THE HOSPITAL (old news, all due respect for a real american hero)
GOP SENATOR LEE UNDECIDED WHETHER TO SUPPORT TAX BILL; SEEKS CHANGES TO CHILD TAX CREDIT - AIDE: RTRS
LEE AND REPUBLICAN SENATOR RUBIO WANT TO MAKE MORE OF CHILD TAX CREDIT REFUNDABLE - AIDE

TNA just took out 6 days of gains and sideways
brutal

Al_Dente wrote:MCCAIN IN THE HOSPITAL (old news, all due respect for a real american hero)
GOP SENATOR LEE UNDECIDED WHETHER TO SUPPORT TAX BILL; SEEKS CHANGES TO CHILD TAX CREDIT - AIDE: RTRS
LEE AND REPUBLICAN SENATOR RUBIO WANT TO MAKE MORE OF CHILD TAX CREDIT REFUNDABLE - AIDE

No tax plan by Christmas, ...u can bet on trump "extension" to "get it right aka buy a senator or 5"...if that doesnt work...should be a fun new year...set up for a final christmas rally in progress? will Santa come??

It was a sloppy box, but the box target for TNA was 66.17
Means nothing, just sayin’ it could go a bit lower
quite oversold (also means nothing, except that a squeeze could be massive if/when the bears start to cover)
INTRADAY

fehro wrote:

fehro wrote:

fehro wrote:too early.. fwiw..

be careful on RUT nears 20d/50d confluence.. it goes.. will get ugly fast… VIXes still red.. bonds nHOD take out yHOD.. careful

candles weaken… RUT <20d.. 50d next.. if "AAPL" cracks 4day support NDX/COMPQ/TRANS outside reversals -ish at these levels VIXes weak.. red still no fear

almost there 50d SMA RUT .. diamond pattern breaking.. that been talking about for days. IWM target diamond is 144.60 lots of room yet

It’s about time
AD finally reached a point where we can call it bear, intraday
Let’s see how long that lasts

fehro wrote:.....almost there 50d SMA RUT .. diamond pattern breaking.. that been talking about for days. IWM target diamond is 144.60 lots of room yet

thanks boss
yes, clarity on the diamond
we have the same target, but it'll be a bumpy ride, plus the news can/will easily screw it up....
60m

NOT MARKET RELATED
If you need a shot of decency, see Biden console Meghan McCain yesterday
https://www.youtube.com/watch?v=3Sa8G-VR13Q

fehro wrote:

fehro wrote:

fehro wrote:

fehro wrote:too early.. fwiw..

be careful on RUT nears 20d/50d confluence.. it goes.. will get ugly fast… VIXes still red.. bonds nHOD take out yHOD.. careful

candles weaken… RUT <20d.. 50d next.. if "AAPL" cracks 4day support NDX/COMPQ/TRANS outside reversals -ish at these levels VIXes weak.. red still no fear

almost there 50d SMA RUT .. diamond pattern breaking.. that been talking about for days. IWM target diamond is 144.60 lots of room yet

ding ding 50d SMA RUT VIX explosive at 50d/20d confluence

TNA, TZA
Don’t get greedy
This is what I live for:
Lower price low with momentum that bull-diverges = possibly the low is in (or near) intraday
1min

........

Al_Dente wrote:It was a sloppy box, but the box target for TNA was 66.17
Means nothing, just sayin’ it could go a bit lower
quite oversold (also means nothing, except that a squeeze could be massive if/when the bears start to cover)
INTRADAY

TNA 66.17 target reached, (and more, LOD 66.07)
I don’t know what’s next; I’m flat

HAPPY HOUR soon

TNA no squeeze yet
But the squeeze on XIV (the VIX futures traders) is HUGE
1min

Al_Dente wrote:Box
SPY
1min

1214spy box.png.png

target reached

careful… SPY 5m bear flag.. AAPL cracks buckle up

Yesterday's Hong Kong traders low acting as resistance.
Just maybe they are hoping to suck in some bears for a decent squeeze tomorrow. Or maybe we are going back to old school where the new weak longs are properly tested before the market continues on up.

fehro wrote:careful… SPY 5m bear flag.. AAPL cracks buckle up

mind those indexes dailies candles..showing some damage at these levels… could see more down tomorrow

the low might be in this time.