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double top therefore pullback was over? need see more bars.

members only update starts here: http://www.cobrasmarketview.com/2018/03 ... ay-update/

GM,
On a daily basis I will bet on the long side, if the S&P500 manages to stay in its black channel.

On an intraday basis, I am looking at these channels.

Markit US Services PMI was out 5 minutes ago hit multi year high. If ISM does the same in 8 minutes then good chance ES goes to 2664, levels off, then drops to 2655 ish for the days low before slowly climbing back to the opening area.

This would all be more confirmation of higher inflation, thus Fed more likely to do at least 4 rate hikes. I do not think analysts have priced in the impact of higher rates on earnings, nor has the market.

morning hourly hollow red

Well those PMI numbers were a nothing burger.
In three plus hours , 1:15 Eastern, Fed Member Quarles speaks.

So far I would be just as well off today if I was having breakfast at the resort bar/cafe overlooking the main pool ion the Kona coast of the big island in my swim suit. But that Hawaiian time zone makes trading a no go. I gotta talk to my wife about a place in the Caribbean for the winter where I could trade in my swim suit

Three minutes to go for setting the opening range and it is looking like a big 10 points, Friday was 17.

Trades with cats wrote:Three minutes to go for setting the opening range ...

What time duration from market open do you use to define the 'opening range'?

As usual, the opening range was broken.

champix wrote:GM,
On a daily basis I will bet on the long side, if the S&P500 manages to stay in its black channel.

fwiw… yeah I know it's ZH .. but those charts are a tad similar…

https://www.zerohedge.com/news/2018-03- ... apan-1990?

In the future when I list targets in one direction I will include likely levels in the other. Today the price volume levels look like 2685 to the upside, then a possible test of 2696, the level that slammed the door on buying Friday.

London/Frankfurt high was 2691.75 and with a half hour to go I would guess they sell into their close rather than extend the high and hold overnight given what these NAFTA talks and Presidential tweets have done to the market. But that is pure guesswork on my part.

SPX SPY >20w SMA at near LODs… now pushing 20ds.. over it.. then 50d VIXes weak

this bull may have legs.

2702/2703 is resistance

So Friday's high was only valid for one day, seems to have become support today.

I drew Fibs from last Tuesday's high and from last Thursdays high.
I am trying to keep this close to a 15 minute bar, but with extended hours and tick charts seem to be a good compromise as they are very close to constant volume bars.

That is Fat Tails Lizard Trading Zero lag oscillator on the bottom, it is coloring the price bars and putting in all the momentum, key reversal and reversal buy and sell indicators on the price chart. I am running it without any of the optional momentum filters.

champix wrote:2702/2703 is resistance

SPY running into resistance, in the 15min timeframe, at the (downslope) 200ema. (271.25)