Cobra's Market View

Wrong side of EMA, wrong side of mid line looking like the lower trend line could fail to hold it.

Cobra wrote:break the ema20 slightly, it's the bear's last chance here otherwise we can forget about them today, again.

SPY failing the test, so far. Same w QQQ.

support

take half off the table, Mid morning bears can not lose today.

no sharp pullback so bears still in danger, need push down harder. overall, I wouldn't count on bears already.

SMH down over 3%.

From Briefing.com:
"Stocks were under early pressure after several semiconductor companies, and Alphabet (GOOG 1140.41, -21.89, -1.9%), reportedly suspended business operations with Huawei, complying with U.S. regulation that require companies to seek approval to conduct business with China's Huawei.

Semiconductor companies Intel (INTC 44.17, -0.73, -1.6%), Qualcomm (QCOM 77.72, -3.75, -4.6%), Broadcom (AVGO 277.82, -12.26, -4.2%), and Xilinx (XNLX 98.84, -5.88, -5.6%) have also reportedly begun to comply with the new executive order. The Philadelphia Semiconductor Index is down 3.1%.

On a related note, Lumentum (LITE 45.34, -0.98, -2.1%) was the first company to cut its guidance to account for the new regulation. Shares were down as much 5.0% but, like the broader market, has pared its losses."

SENTIMENT
VIX options traders just went bear-SPY
but not very covincingly
they will flip on a dime

I have my sell stop at 53, this sideways is going no where. Coffee time.

IWM hod

Bull Flag. not buying but bears are dead.

classic Monday, will be back for an update later. Peace!

Working on a lower high to match the lower low. Assuming no news this afternoon it looks like we are sinking back to a flat day.

Classic boring Monday + Gap down and stay flat = Bearish to continue.

Chart for the road: If bulls can not closed higher than HOD today, tomorrow I am expecting the selling to be worst. Peace!

for now bull flag still stand a chance.

Bottom panel:
According to the 5-minute color TICK, still seeing many more reds than greens
According to the cumulative TICK (pink)... she's been on a sell signal since about 11:15 yesterday
5min

Looking like the GAP isn't going to fill.

BullBear52x wrote:Classic boring Monday + Gap down and stay flat = Bearish to continue.
Chart for the road: If bulls can not closed higher than HOD today, tomorrow I am expecting the selling to be worst. Peace!

That's a pretty chart boss

close enough to be seen as the 2nd test of the day low, 51% chances of double bottom.

HAPPY HOUR