Cobra's Market View

dtES is 3000 your estimated low?

te_fern wrote:Coolbiz just went long again at 3011. Don't like being on the other side of the trade from him....

The closed on past 3 days were fat, it's time for the market to move out of this balance area (POC if you will)

daytradingES wrote:

BullBear52x wrote:today should be a trend intraday, by that I mean big range one way or the other, I hope for down since I started on the south bound train.

why do you feel is should be a big rng one way or another?
(most stuff I have is sideways)

Wrong reply, oopz

Aiming for the S1 pivot, which is right around 3000...

As Cobra says, being short is hard work.....LOL!

te_fern wrote:dtES is 3000 your estimated low?

Yes at 8:30CT

If 3018 turns out to be the HOD then range rule gives 3002 as estimated low.
3003 pops up other estimates and 3001.50 is the low stop1

So in that area. IF down day which I think it might be.

The key is not the low estimate but the best sell time or sell price (well second best as 3018 gone)

Clear as mud!!

Cash SPX Fib, 38.2% resistance, same playbook.

daytradingES wrote:

te_fern wrote:dtES is 3000 your estimated low?

Yes at 8:30CT

If 3018 turns out to be the HOD then range rule gives 3002 as estimated low.
3003 pops up other estimates and 3001.50 is the low stop1

So in that area. IF down day which I think it might be.

The key is not the low estimate but the best sell time or sell price (well second best as 3018 gone)

Clear as mud!!

Thanks! It's like trying to figure out where to place stops...

maybe the range low was in?

Fridays can be choppy and best to stay away from -- but I'm an addict like the rest of us nuts here :LOL:

In any case, IF we get a bounce (say around 12 CT) and the indicators look like they are topping out then I'll sell - else take a nap!

Al_Dente wrote:$NYADV:$NYDEC = 2.2x
$NYUPV:$NYDNV = 2.7x
bull at the moment

$NYADV:$NYDEC = 2.2x
$NYUPV:$NYDNV = 2.7x

bulls aren't giving up... yet...

About to get stopped out and then I'll go take a nap too!

1) SPX double top
2) Sentiment: options traders (1/VIX) are bull-SPX
3) QQQ not so much
15m

We are here. Until it doesn't.

He's at the podium now with Aussie PM
he's taking questions

last 10 days %

Everybody playing the ETF's really should take a look at the micro ES and the M2K micro small caps. With the MES a point is $5 so if you don't want to be at a high roller table you can still afford to trade three or four contracts at a time. The tax side is terrific if you pay US income tax as it is the 60/40 split between capital gains and ordinary. Tax return is just filling in the single number from your brokerage. Brokerages are looking for collateral for day trading in the area of what ever change you have in your pockets. Being liquid futures contracts you just know there has to be a hedge fund somewhere with a fast data connection arbitraging the heck out of any price variance with the regular ES, making sure they are the same price.

The other thing is ETFs do scare me as when things go really wrong it is a sponsoring bank who decides what to do, while with futures it is the exchange. So the bank could say that ended badly and just walk away. Exchange has no other line of business and the members are mostly traders.

If we have this as a second leg lower, Monday will be another one. just saying.

Aggressive sectors stacked, daily
The only green elder is health, breakout
Srsly, bulls need more help, and soon....