Cobra's Market View

From Twitter an hour ago. I post what Coolbizone is thinking as he is a professional with a long track record who does a reasonable job of seeing into the future with Elliot waves. The warning is he will change his mind and move his position and then tweet about it.

"SPX expecting a pullback towards 2640-2632 area in coming days. 2681.32 was a ST peak of may exceed by a few point? disl:hold shorts from near 2680, STOP at 2688."

So a run up to 2690's would trigger some shorts, only question is how many others?

SPX oil goosed into pit close… SPX goosed… .. may stall here and reverse.

Watch out for these guys :

May 07, 14:00

FOMC member Barkin speech
May 07, 15:00
29 min
Consumer Credit Change $10.6B $16B
May 07, 15:30
59 min
Fed's Evans Speech
May 07, 15:30
59 min
FOMC Member Kaplan Speech

fehro wrote:SPX oil goosed into pit close… SPX goosed… .. may stall here and reverse.

All we want is 2705

4 hours later a new high for the day and it doesn't exactly look like a bold statement of higher prices. That is to say it hasn't triggered a positive momentum signal out of Fat Tails Zerolag indicator.

fehro wrote:SPX oil goosed into pit close… SPX goosed… .. may stall here and reverse.

no the markets aren't being held up by oil /CL drops hard nears oLOD .. mind the gravestone on inv hammer on /CL daily

coolbiz - closed his short for -1.70 says price action is firming,
"Price action is firm covered shorts at 2681.70, -1.70 is good for now. Will re-assess instead of holding."

fehro wrote:

fehro wrote:SPX oil goosed into pit close… SPX goosed… .. may stall here and reverse.

no the markets aren't being held up by oil /CL drops hard nears oLOD .. mind the gravestone on inv hammer on /CL daily

nears support nears top of gap

Yes, as I posted, Coolbiz changes his mind. But then if I was routinely trading 20 contracts as a swing trader I would too. Just wait if this market gets wobbly he will try again on his short (or his long), seems to be the way he trades.

I have been following him for many years and I am always amazed at his ability to coax a wave count out of a chart.

Trades with cats wrote:Yes, as I posted, Coolbiz changes his mind. But then if I was routinely trading 20 contracts as a swing trader I would too. Just wait if this market gets wobbly he will try again on his short (or his long), seems to be the way he trades.
I have been following him for many years and I am always amazed at his ability to coax a wave count out of a chart.

Thxs TWC for posting the lead to him. Interesting (also at times hard) to follow his tweets. crazy when he posts his trades statement for a short bit.

HAPPY HOUR

gap fills..look to 20d SMA worse case…come to papa

ES fill is 7 points below the open, but today's range has been open to plus 12 so it is going to take (I think) a significant group changing their mind in the last 30 minutes or so. No idea who that would be unless it is swing traders who held on over the weekend.

Making a run for the gap fill after all.

fehro wrote:gap fills..look to 20d SMA worse case…come to papa

at gap.. key time..

fehro wrote:

te_fern wrote:

Al_Dente wrote:

te_fern wrote:

ccash04 wrote:Short spy here, stop at HOD.

Good call!!

fehro » Mon May 07, 2018 9:59 am ......nibble short 2680.25

Another good call. Hope they covered at the lows of the day!!

buckle up .pink line top of gap.. may be all we have… AAPL daily ugly candle .. bearish wedge 4 highs, 2 recent lows daily

ding ding pink line.. fill gap next and back at the infamous "brick wall" 2665/75

a decent dip

This market is a tease!

Should have said I have added a color changing Keltner of 2.25 ATRs centered on the 20 bar EMA to see if it helps me make better decisions or not. It certainly influences a quick glance to have that caterpillar working it's way across the chart.