Cobra's Market View

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double bottom or not, wait and see.

members only update starts here: http://www.cobrasmarketview.com/2018/05 ... ay-update/

/ES mind the possible H&S and SPX H&S /wedge opening flat

SPY PBar map this morning. BLUE = Pbars not yet filled, Orange = Pbars filled
This morning added 271.16 which was taken out just before the open

SPX resistance is close.. mind the morning gap VIX slammed in the pre-market into today's expiration nLOD takes out oLOD

FuturesTrader71 used a new technical term to describe the overnight action "just garbage".
Overnight point of control on my chart is 2708.
He did say something useful, that every time he sees some serious buying action the market gets slammed by aggressive selling.

DXY USdollar took out yHOD with nHOD this morning.. back over it .. next resistance zone +0.60 near 94.22 and 95.15

watch oil/gold.. dollar moves again up… they should feel the pain. EURO starts to look shaky

https://www.zerohedge.com/news/2018-05- ... os-deepens

fehro wrote:SPX resistance is close.. mind the morning gap VIX slammed in the pre-market into today's expiration nLOD takes out oLOD

SPX resistance zone, open gap, wedge target reached. may stall in this zone.

At the R1 pivot, as fehro said may stall here.....

fehro wrote:

fehro wrote:SPX resistance is close.. mind the morning gap VIX slammed in the pre-market into today's expiration nLOD takes out oLOD

SPX resistance zone, open gap, wedge target reached. may stall in this zone.

add/reload short here SPX 2720ish

RUT tries to do the heavy lifting.. INDU not impressed.. nor NDX

*VIX holds 200d SMA 13.74

R1 pivot held, let's see if the VWAP will provide support...

2000 tick ES chart price just bounced exactly on the daily pivot point. 1.25 points higher the overnight high had been showing strong support 30 minutes ago but not this time!

QQQ hod, and first of the majors to break out of the OR-30.

GLD fresh 20day low earlier, but holding above now. GDX, GDXJ, and SLV have lost initial gains, now trading around the flatline.

fehro wrote:

fehro wrote:

fehro wrote:SPX resistance is close.. mind the morning gap VIX slammed in the pre-market into today's expiration nLOD takes out oLOD

SPX resistance zone, open gap, wedge target reached. may stall in this zone.

add/reload short here SPX 2720ish

/CL goosed on oil reports, test oHOD.. indexes goosed… VIXes ease .. SPX mind the expanding wedge..

Unfilled PBars
SPY PBar above = 272.71 , below 269.70
AAPL PBAR above = 188.55 , below 185.00

15 minute bars on the ES with a multi-day view. My only point is we are re-auctioning the area of the fast overnight drop.

TLT lod. Barely hanging on to 117.

I added a weekly VWAP to that chart, today it is significant (the heavy red dash line). Guess I should add weekly pivots as well.