Cobra's Market View

Al_Dente wrote:1) do we need to worry about the PA elections tonight?
2) what kind of reversal day is this?
(recall what cobra says about engulfing days)

Yes Professor Dente. We recall.
..Part of why scooping shares for the remainder of the week rather than pushing shorts feels more optimal just now.

TLT is closing strong, after an up day on the relatively moderate inflation data. But it's not exploding up, and it isnt even at a 10day high.

Daniel wrote:

Al_Dente wrote:1) do we need to worry about the PA elections tonight?
2) what kind of reversal day is this?
(recall what cobra says about engulfing days)

Yes Professor Dente. We recall.
..Part of why scooping shares for the remainder of the week rather than pushing shorts feels more optimal just now.

Professor Dente.
How about the elections, Captain

well, guess that's it for today. Wednesday tomorrow has been generally bear friendly recently. thank you guys, I'll see you tomorrow.

before the close, please take a little time to vote for me, thanks. https://stockcharts.com/public/1684859/tenpp

looking for a gap fill this week to scare most bulls?..think bulls ok above the zone of resistance...

Oh it is a humdinger of a bearish engulfing day. BUT it is triple witch and the Friday break out as well as this mornings first move were driven by carefully crafted statistics and interpreted as good by the algos. The bulls badly need a pull back to suck in some shorts.

Special elections this far out can not be interpreted. As Trader's Almanac points out this month the state of the economy at the time of the elections this fall is the most important factor by far. With the siloization of news delivery by tribe in this country the results of one or two races will be spun out of recognition the second the polls close, and come November no one will remember what was said.

Al_Dente wrote:

Daniel wrote:

Al_Dente wrote:1) do we need to worry about the PA elections tonight?
2) what kind of reversal day is this?
(recall what cobra says about engulfing days)

Yes Professor Dente. We recall.
..Part of why scooping shares for the remainder of the week rather than pushing shorts feels more optimal just now.

Professor Dente.
How about the elections, Captain

How bout dem elections! I'm all for 'em. Bring em on! Everyone loves a good election.

But.. nothing matters but Earnings and the multiple the Market is willing to assign to them.



GLTA

Al_Dente wrote:1) do we need to worry about the PA elections tonight?
2) what kind of reversal day is this?
(recall what cobra says about engulfing days)

mind BOJ 7:50 pm ET and.. watch those FTSE DAX long term trend lines.. and Nikkei.. those go.. look out below.. elections won't matter

Quite a strong 15min bull closing-bar on the Russell... Hm..

ES up 10 points off the lows at 10 minutes before collateral requirements change on the hour, holding on to it in the final 15 minutes after the hour.