Cobra's Market View

invs H&S on DXY 30m USdollar pressing for 20d 92.89… /GC 20w key at $1290.

brokebybernacke2 wrote:imo, buy the dip setup for possible shutdown next week...

Is a shutdown really possible? In past years there were Congresspersons ideologically committed to fiscal prudence, who offered a creditable threat of this, and it still didn't happen. Hard to imagine in this political climate that either party, or subset of either party, will be that hardcore 'gonzo', and willing to take the public opinion fallout.

Probably the best bet is to fade the 'shutdown trade'.

Gap fill iwm, mdy.

XLF, XLI,XLB hit 52wk highs this AM. Many sectors are w/in 1% of 52wk highs. Market may be too overbought to buy right here, and too strong to short.

bounced off the blue MA line again. Needs to push up through the VWAP.

Levered smalls back to about flat, can it push back higher???

Pushed through the VWAP, now lets pull up the rest of the market....

There goes tech running up with the S&P. Question for the S&P is it a double bottom and breakout or will it be the upper edge of a range.

Playing the bounce, see if we can get back to even on the day...

this bull shall have legs, I don't think it's double top.

Hope the blue MA line holds again....

Did Kashkari just say something stupid?

Got the bounce, lets get a new high now....

VIX nHOD testing 20d SMA and green ... mind the NDX COMPQ for outside reversals.. should we take out yLODs

on the NY
weak bear with no volume .... at the moment

123.57 200d TLT racing for it

Now we're talking... BTFD

Impulse Express at 11:00 leading to a new all time high. Three days in a row, and just like yesterday they waited for the double bottom.