Cobra's Market View

Smalls daily, NOT intraday
Fibbonacci drawn from the feb low to last month’s high shows that IWM will hit 38% retracement at ROUGHLY 161 IWM. That would also be near testing 200sma support
So, 161-ish is my target. She is quite oversold now, so a bounce (short covering) may intervene

Rip will be sold, one more coupon before the lady shows up

the rebound should fail again.

Al_Dente wrote:VIX is up about 23%

now up +33%

It is a surprise that 4 of the dow 30 are green at the moment:
VZ, MCD, JPM, TRV
(i expected to see all red)

that's a pretty good red candle. daily lower bolly 2872 2875 50 ma breather eventual level/target and good bounce?

Shaishen wrote:For now I see a 2 push down formation; as per Cobra we should expect a third push.. ?

http://www.cobrasmarketview.com/3-push-updown/

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Got the 3rd push down..now what? Guts to go long? Or a 4th push down? Or as we are told every morning are the prices cheap enough to attract buyers?

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AMZN having a bad day, did everyone stop shopping?

“it’s all about the selloff in bonds”
(yield spike)
[blmbrg]

MrMiyagi wrote:AMZN having a bad day, did everyone stop shopping?

Jeff had to stop buying until earnings come out. Note that he is cutting the number of shares they have to repurchase by not handing out to the rank and file any more.

MrMiyagi wrote:AMZN having a bad day, did everyone stop shopping?

maybe a case of stock price actually reflecting current and forward earnings?? quite elevated..

https://www.nasdaq.com/symbol/amzn/pe-ratio

ES 2891 is so far meeting the double bottom test. More importantly article up on Zero Hedge from Norman Securities saying "Finally, and going back to the lack of CTA selling, the Nomura strategist notes that the bank's CTA model in SPX futs has been “100% Max Long” although today we see sell pressure under 2939 to get down to “96% Long” as the 2m window flips. Which means that anyone wonder when the equity selloff will really kick in, "we’d expect more selling under 2892 to get to just “58% Long” as the 1m window would flip.""

So yea, if correct our toes are on the edge of the January canyon. Ties in nicely with Coolbizone's Elliot Wave count. Not saying it will happen, because the powers that be are more aware of this than I am, but as they showed in January while they can influence the market, they can't stop a run away train no matter how many times they show Powell in that red and blue suit.

stockcharts is wanky

brokebybernacke2 wrote:

MrMiyagi wrote:AMZN having a bad day, did everyone stop shopping?

maybe a case of stock price actually reflecting current and forward earnings?? quite elevated..

https://www.nasdaq.com/symbol/amzn/pe-ratio

Chinuh bugs infiltration in AMZN and APPL stuff maybe..?

https://www.zerohedge.com/news/2018-10- ... on-and-cia

Considering AMZN Pentagon cloud contract = a scary scenario..

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Al_Dente wrote:stockcharts is wanky

Do not criticize the snowflakes … they are very sensitive over there!

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Amazon cloud servers are used for a lot of University scientific research. So if Bloomberg story correct then this goes way beyond the government. Don't forget cloud services has been the rapid growth part of Amazon with those amazing 40 percent gross margins. Same thing at Microsoft. Wonder who's servers they use?

we want u back granny yellen

QED wrote:

Al_Dente wrote:stockcharts is wanky

Do not criticize the snowflakes … they are very sensitive over there!

ELSEWHERE:
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NY declining stocks = 5.4 x advancing stocks
NY declining volume = 3.0 x advancing volume