Cobra's Market View

and then there's TWTR
at least earnings still matter

1st test of ema20 in a long time should be some sellers around.

"According to several forms filed with the SEC, Dorsey purchased just over 1 million shares of Twitter stock between $15.87 and $16.82 between February and April of last year. That's the executive's way of saying they believe in the company's future.
Well, those purchases have effectively doubled based on Thursday's [today's] action."
[thestreet.com]

Coolbizone was in at around those prices. He put up his wave count chart on twitter today, calls it a long term hold.

Bloomberg, arguably the best financial news:
“What you see is what you get”
Oy
Who has a better audio feed?
Link please
thanks

maybe a rebound here first then we'll see.

its not pretty unless you are a bear looking for dandruff, could get us new low

Turning right at the 50% retrace of the last drop.

Dudley says March rate hike, yes
He votes; all the other knuckleheads who don’t vote are just noise

50% was a coincidence. It is clearly Feds Dudley tanking the market. If I was a Trump supporter I would be very suspicious of this 180 degree reversal on fed speak during sell offs.
Personally I think it is Nietzsche conditioning of the market by the Fed. Feed us a little poison so that we can survive the huge dose coming later as they unwind the balance sheet.

This is getting the look of risk parity unwind, for want of a better term. Wave after wave of selling with big bounces (always through my stops) in between.

Self doubt again..
H&S on ES 60 min just perfect with the classic lower right shoulder...
So simple..but not easy

.

debt service costs are projected to double as a share of GDP (Dudley)
eg: interest rates on the new bonds we'll have to float to pay for our massive debt, deficits
Recall the tax cut bill added $1.5 trillion debt.

Two drops in a row of about the same size. Let's see if the bounce matches as well.

Al_Dente wrote:The AD at 10 ET, a bit early, but bear bias at that moment
NY advancing stocks = 0.49 x declining stocks
NY advancing volume = 0.51 x declining volume
NY declining stocks = 2.0 x advancing stocks (now 3.0x)
NY declining volume = 1.9 x advancing volume (now 3.3x)

NY declining stocks = 5.1 x advancing stocks
NY declining volume = 5.0 x advancing volume

Well all the big name quants were saying expect several days of unwind by the funds and then repositioning by the pension funds.

could be another rebound attempt here then we'll see. bulls need exceed the mini target before any hopes.

brokebybernacke2 wrote:its not pretty unless you are a bear looking for dandruff, could get us new low

That was brilliant forecast! kudos to you!

Cobra wrote:could be another rebound attempt here then we'll see. bulls need exceed the mini target before any hopes.

Funny how Trump stopped tweeting about being the best president ever for stock markets...