Cobra's Market View

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The pullback may have small legs at least?

members only update starts here: http://www.cobrasmarketview.com/2018/08 ... ay-update/

To me it looks like we need some consolidation now. Too far away from the MA lines....

The semi's are down hard this morning...

as per yesterday… buckle up..Bonds and VIX strong again.. TRANsports not pretty.. mind those 20d 50d SMAs

Layers of buy orders in the order book every even amount, as in 2834,2833, 2832. Doesn't look like a set up for a quick drop.

BANKS
2 months
20/50ma

Gonna be a bad Turkey day without Baby Janet around.. NYMO is at -26.

VIX wakes up a little supporting the sell off.....

Elon Musk sent David Einhorn (famous shorter) a box of short shorts
https://www.cnbc.com/2018/08/10/david-e ... -word.html

VWAP, MID and EMA in 5 minute land have been recovered.

Too many options on these volumetric bars. They are showing the difference between buys and sells (ticks) at each price level. The stat box below gives totals. It also makes it clearer what role the bid ask delta bars play (the traders who are crossing the bid ask line)

decisive breakdown of the day low then it's down trend day usually with late day reversal up, cannot break the day low then watch for possible double bottom.

AD

SPX ..fwiw bearish wedge.. if lower pink breaks.. island top … and/or diamond.. 30m

fehro wrote:SPX ..fwiw bearish wedge.. if lower pink breaks.. island top … and/or diamond.. 30m

SPX 20d at wedge edge and just 6 points lower than LOD .. 2825.. it goes look for a very fast trip to 50d.. 2784

Smalls seem to be finding a few buyers....

possible 3 push up so cannot confirm the low was in yet.