Cobra's Market View

thanks for that link cats

last ten days %
dow (lime) leads the majors

IWM, SPY challenging the Mar 27 opening gap and crap highs.
UUP challenging its late Feb high.

SPX 20d 2686 mind the upper open gap testing previous highes here 2674ish

this bull shall have legs. likely another uptrend day.

daytradingES wrote:going for 2671.25?

HOD 2672 dif 0.75

R1 pivot holding things back...

Al_Dente wrote:AD Bull:
NY advancing stocks = 2.1 x declining stocks
NY advancing volume = 2.9 x declining volume

Nasdaq advancing stocks = 1.5 x declining stocks (weak, narrow based rally/squeeze on the nas)
Nasdaq advancing volume = 2.7 x declining volume

NY advancing stocks = 2.7 x declining stocks
NY advancing volume = 6 x declining volume

Nasdaq advancing stocks = 1.9 x declining stocks
Nasdaq advancing volume = 2.4 x declining volume

Folks have been parking cash/proceeds in short-term treasurys for about a month.
SHY (top panel) is like a treasury-money market, a “parking place” for funds awaiting serious investment.
Equity bulls see this as “dry powder” funds available to move back into stocks.

the pullback will be bought probably around here.

Thinking out loud:
They don’t even need Corporate Buybacks in the current scenario:
Obviously many/most were short
Ooooops, gotta cover
Buy-to-cover (short squeeze)

When will the covering be over?
mmmmm, we'll see it when the squeeze rally relaxes/plateaus/reverses/ends…

fehro wrote:SPX 20d 2686 mind the upper open gap testing previous highes here 2674ish

RUT stalls at 50d SMA .. QQQs, NDX weak… SPX eases at key area 2665- 2675 mind the morning gaps..

Day Trading
time-of-day
https://vantagepointtrading.com/time-of ... -patterns/

Central banks were buying 2 weeks ago:
https://www.greedometer.com/add-boj-ecb ... weeks-ago/
More on BoJ:
https://www.themaven.net/mishtalk/econo ... Gzc10N-Lg/

Al_Dente wrote:Day Trading
time-of-day
https://vantagepointtrading.com/time-of ... -patterns/

A well-thought out article by Mr. Mitchell. Bespoke, in their premium service, does alot of updating of trailing current Time of Day tendencies.

Market looking for buyers, clearly found some inside yesterday's range. But not enough to clear Mid/VWAP yet. My guess is a do over is on the agenda later this afternoon.

Longer-term 'recency bias' is telling the Market Mind that breakouts should build on themselves. But these recent (relatively) sharp sudden declines over the past weeks has created a level of "overhead supply" such as hasn't existed for awhile. Price on SPY and on QQQ keeps running into somebody's fib-retrace level, or pivot point, or trendline...and then suddenly stops.

However, earnings season should be a good one. Bsn optimism studies portend this. And the market cannot be said to have fully discounted this possibility, not when it's clinging to its 200day MA. So it may turn out to be a choppy 3 steps up, 2 back, for the next couple weeks... but overall a positive earnings-driven uptrend.

I used this pattern for some years, just for day trading to earn some money. Usually not more then 15% of all account. It's arr 15-20k and quite easy to make some 300-400$ with this ammount, But core account is on trend and only for a swings.
Also, this pattern is good for stocks but for pr metals pattern should be adjusted as it rarely works.

P.S. sorry, it's for Daniel article post

These 8 stocks are responsible for virtually ALL of the dow-30 advance at the moment
BA, CVX, GS, MCD, CAT, AAPL, DWDP and JPM