Cobra's Market View

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consolidation since Feb 1 so maybe bias still is a little up.

members only update starts here: http://www.cobrasmarketview.com/2019/02 ... ay-update/

The market opens down slightly from Friday's high. Above the previous base and pulling back.

Some wild gyrations at the open. Time to check some positions.

Oil down. Dollar up.

Needs to break yesterday's low to get something going to the downside....

likely a boring range day.

Watching this triangle....

The purple-dashed-vertical line marks last October’s high, approximately.
Q: Who signaled early (via negative divergence) just prior to last October’s high ?
A: The internet (pink), semiconductors (gray), smalls (cyan), and banks (red). Historically these have usually been “leaders”.

Q: Who is signaling a turn (via negative divergence) NOW ?
A: Nobody yet.
(Chart is as of Friday’s close)

Al_Dente wrote:The purple-dashed-vertical line marks last October’s high, approximately.
Q: Who signaled early (via negative divergence) just prior to last October’s high ?
A: The internet (pink), semiconductors (gray), smalls (cyan), and banks (red). Historically these have usually been “leaders”.

Q: Who is signaling a turn (via negative divergence) NOW ?
A: Nobody yet.
(Chart is as of Friday’s close)

23leaders.png.png

Nice chart and analysis, please let us know when these 'leaders' turn!! thanks Boss!

te_fern wrote:........Nice chart and analysis, please let us know when these 'leaders' turn!! thanks Boss!

bulls are stronger than I thought but until decisively breaks above the Friday's high, it's still a range day. and don't remember, those days, bulls can only make one intraday high after that they can never recover all the pullbacks.

From The Wall Street Journal's Market Watch via twitter
"Crypto exchange customers can’t access $190 million after CEO dies with sole password
"

2 tick renko bars make a tighter channel! In real time doesn't look nearly so organized.

We already know about the dove-FED put, wherein folks feel comfortable about buying above ~2660
And we know that shorts have been covering all the way up this leg
And we know the 401k deposits are kicking in

But here’s another note to ponder, regarding all those BUYERS
Say the December drop was partially due to tax-loss selling
Fact: the “Wash Sale” rule is 30 days after the sale
SO, ON 2/1 OR EARLIER (depends on when you sold in December), YOU CAN BUY YOUR STUFF BACK (after wash sale deadlines finish),
or you can buy “similar ones” immediately.
[DataTrekResearch via zh)

valid breakout but probably a pullback first then we'll see.

h2 long. anyway, the pullback probably will be bought around ema20 if not already being bought.