Cobra's Market View

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Up or down 50 to 50, will need see more bars.

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

bonds green again.. TLT nHOW nHOM 50d 120.63 SPX takes out yLOD look to 50d.. RUT weak.. VIX extremely tight.. at 50d could explode at any moment

Dennis Gartman has called a major top. Make it or break it for his rep.

If you missed the overnight action -
Asian markets triple bottom at yesterday's low on low volume. London Frankfurt opened with a strong up move to get us to the New York opening levels.
Usually I think we would see New York re-test the overnight low but that is a long way down from the open. My guess is a re-test will mean a failure as a low volume bounce overnight doesn't carry a lot of validity.

it's morning hourly filled black bar.

Nice little impulsive up move but it stopped at the 1 deviation band, Clear that buyers aren't responding so far, but bears are still sleeping.

Crude oil inventory coming up. Could be a catalyst to move things.

Cobra wrote:it's morning hourly filled black bar.

and implication intraday or within a few days is bullish or bearish?

Waiting for the test of the low. We are done with scheduled news for the day, time for the traders to start showing their hand.

Have not edited back ground color for stupid daylight savings.

The ST moving averages lines went negative yesterday, so sitting on the sidelines until we move back bullish...

TICK is supporting that stance (bearish)....

Trades with cats wrote:Dennis Gartman has called a major top. Make it or break it for his rep.

ug, bear kiss of death.... see the 50 test and gap fill in that 2725-45 range on the 15min for max bear suction...b4 next jump...not worried until 2700 goes, then maybe worry

1 hour Opening Range tested, it has held so far. Set up for a double bottom if the buyers step up. Otherwise it is a zipper paving the way for a break down to test yesterdays low.

If you go to tick charts setting the program to NOT on equidistant bar spacing makes it sooo much easier to see those impulsive moves like that last 4 point downdraft where the red momentum down marker was placed by the oscillator.

Trades with cats wrote:1 hour Opening Range tested, it has held so far. Set up for a double bottom if the buyers step up. Otherwise it is a zipper paving the way for a break down to test yesterdays low.

beware the zipper..ot some serious stuff with UK and Russia, fairly ignored in news...

We got that test but if this thing can't get above the first resistance at the opening range low then it isn't a double bottom or the bottom, just a bump on the way down.

So far chart looks like a classic late morning low formation ready to start that all afternoon New York drift up. We all have a t shirt with that chart pattern drop, left shoulder, v bottom drop, right shoulder, up down fluctuations in an upward sloping channel for most of the rest of the day.

The tape has spoken. Buy Buy to bulls.