Cobra's Market View

Trades with cats wrote:Especially when they stamped.

Um, "stampede"..? . .

After a brief foray into the green, we go red again, to test those higher lows
(ignore vertical lines, they are keyed to smalls which are not visible here)
5m

the pullback is too sharp so forget about this bull shall have legs, even though rebound still is possible, it just has no trading edges anymore.

Out see dentist for 2.5 hours, during witch time will have no update. so far it's a range day anyway.

My sell the rip today, first one failed second one made a kill just like I was hoping for. I am still eyeing LOD to be tested. will see.

LESSONS FROM JEOPARDY:
What if the conventional wisdom is wrong?
“There’s a better way to approach this.”
Most people are afraid to challenge “conventional wisdom.” If something’s been done the same way for decades by everyone, no one thinks that it can be done differently.
James Holzhauer’s CONTRARIAN APPROACH is to start at the bottom of the board and go sideways, unlike 99.9 percent of the game’s previous contestants. He then “leverages” his winnings with “strategically aggressive” wagers that are far larger than any contestant before him.
His contrarian approach has resulted in performance once thought impossible.
And it sure helps that has been answering 96.7 percent of the clues correctly.

From RevShark:
...recent meaningless movements, just traders misleading other traders, as they respond to rumors and rhetoric.

**************************************

..Hence, right here on SPY would be a logical place for bulls to make a stand, and form an unexpected higher low. Watch for a sudden large RAW NYSE or NAZ positive tick reading--to kickstart a rally on low volume, around lunch hour. Especially today.

Opex Friday has certain dynamics which have nothing to do with normal price movements and fluctuations, and things can happen suddenly... especially post noon, when most/all the SPX options have fully settled. Bottom line is watch for sudden algo-driven buy-basket price moves. No doubt one kicked off earlier this AM, out of the blue, causing Cobra-da to spot a classic bull w legs pattern only to have it peter out.

Choppy waters, imo, and best left to adroit surfers like BB52.

Fraud in FOREX caught and fined $1.2 billion
That’s what they do to crooks in Europe
https://www.cnn.com/2019/05/16/business ... index.html

This is where I draw the line.
They start faulking around with my chocolates.
Seriously, emojis !
Real question: How many ounces will be left in that skinny little pos?
https://www.weau.com/content/news/Hersh ... 26591.html

SPY unch on the day. But NYSE decliners outnumber advancers 2:1.

Big picture. Strong pullback, beneath the EMA20 and 50. Bounce up to but stalled at the EMA20. Some resistance there. Loads of money to be allocated, much of it to the resilient, ever-optimistic stock market. Beware the seemingly inevitable crash, to perhaps the December lows, when it comes. Be nimble. Just IMO. More of an optimist. Not a pessimist. More of a realist.

Breakout from the trading range has been successfully stopped. There is no escape!

SPY. 5 minute. Gap down. Filled. Range-bound.

Have a good weekend, Everyone.

Fibbo support for now, the lower wedge will give another layer of support but I am not buying it, boring Friday.

Looks pretty benign here but down volume is 2x up volume atm

Wishful thinking, only one direction today

WEEK AT A GLANCE (early)
Who wants to hold over the weekend?

Al_Dente wrote:This is where I draw the line.
They start faulking around with my chocolates.
Seriously, emojis !
Real question: How many ounces will be left in that skinny little pos?
https://www.weau.com/content/news/Hersh ... 26591.html

Nothing is sacred anymore, NOTHING!
Disrupt (chaos) everything