Cobra's Market View

If you're StockCharts member, please do me a little favor by "vote" and the most importantly "follow" my public chart list HERE. You need "follow" only once but vote can be done everyday, so whenever you have time, please vote for me, thanks! If you're not StockCharts member, you can also help boosting my rank by clicking the link once everyday.

• Please, again, all my calls in the daily live update is for intra-day only, they're absolutely invalid when the closing bell rings. If you're interested in the forecast for days and weeks, Please subscribe my Daily Market Report.

• Personal attack on any board members won't be tolerated. Please limit your topic to trade related only.

• Please no direct link to your personal web site or blog. You must post rich contents here. You can, however, put link to your personal web site or blog as your signature.

• I'm very busy during the trading hour, so your question posted on board might not be answered. For a guaranteed answer to your question please send email to info@cobrasmarketview.com.

========================================================================================================================================================================

in range, no direction. a little near the range high so maybe pullback is more likely?

the members only update starts here: http://www.cobrasmarketview.com/2019/11 ... ay-update/

ES daily. Still in the base. EMA 20 still well below.

ES five minute. One spike overnight. Otherwise calm.

find excuse to sell.

There it is, first excuse for trigger.

Bonfire of the Aussie.

USD.CAD up.

BOOK REVIEW:
“The Man Who Solved The Market: How Jim Simons Launched The Quant Revolution”
https://www.marketfolly.com/2019/11/the ... ket+Folly)

Health Insurance
up +20% YoY
[but there’s no inflation ]
https://pbs.twimg.com/media/EJQnJlwWoAA3RT-.jpg

meantime, XLV is knocking around ATHs.

“We’ve been in a so-called recovery for over a decade now and yet there is very little inflation in goods or wages. Where you see plenty of inflation, however, is in the three things that allow for a middle-class life — healthcare, property and education.”
https://pbs.twimg.com/media/EJG2In8X0AIdb6w.jpg

Al_Dente wrote:BOOK REVIEW:
“The Man Who Solved The Market: How Jim Simons Launched The Quant Revolution”
https://www.marketfolly.com/2019/11/the ... ket+Folly)

Hey, Pasta Boss. I just read a review of it. Win percentage has not been spectacular. Maybe 55%, but obviously good enough. Looks for short term anomalies. Is extremely secretive of methods. Non-disclosures, etc.

look at TRIN, same story, no buy.

JFR wrote:Hey, Pasta Boss. I just read a review of it. Win percentage has not been spectacular. Maybe 55%, but obviously good enough. Looks for short term anomalies. Is extremely secretive of methods. Non-disclosures, etc.

ELSEWHERE:
‘American free markets are becoming a myth. Internet service, cellphone plans, and plane tickets are now cheaper in Europe and Asia than in the US. In 2018, the average monthly cost of a broadband internet connection was $31 in France, $39 in the UK and $68 in the US. American households also spend twice as much on cellphone services as households in France or the UK…. Based on my research, I estimate that monopolies cost the median American household about $300 a month. ”
https://www.theguardian.com/commentisfr ... ing-a-myth

Op ex tomorrow. ES 0's and 5's price levels should show extra interest for position hedging. Who knows the truth but we are currently struggling at a 5 level

break above the yesterday's high from here in the next couple of bars with a good looking bull bar then it's an uptrend day. I don't believe it'd be an uptrend day today though. range day at the best.

Yesterday during the morning rise pullbacks stopped in the vicinity of VWAP several times.

Cash open level showing 606 buy orders with 534 right above, making that area the lump in the order book.

All three C/P Opening Option Sentiment Indicators = DOWN

Falling Extreme Greed 84 = FURTHER DOWN

C/P undervalued Index PUTS two and half times calls = WAY DOWN

The NYMO cycle is Down.
While it is having an up day today, it has been comfortably below the zero line since last week.
A corrective move up to the zero line would not be unusual at this point.

Price has been flatishly trending higher despite negative NYMO.
We now have a dozen open down gaps resting below to serve as potential targets should price turn.
We have a benchmark target at SPX 3004.78, the price high at the last NYMO high.

The only up target at this point is the upper keltner band at SPX 3112.83.
An outer keltner band, if tagged, usually gets tagged more than once.
So, if bulls can nab that, it bodes well for continuation of the trend. On the other hand, failure to tag would be a fail...
Also, a close past SPX 3121.29 would negate an ascending wedge and also support continuation of trend.

The current divergent price/NYMO action may be a sign of distribution at a high.
It may also be a sign of a rotational correction before continuation.
Price will tell or a flip in the NYMO cycle will tell.
If our benchmark gets left behind, we will view it as unfinished business for later.

OPEX is tomorrow, and VIX expiration is next week.
Action could change after those clear.

I am still long SPX and R2K runner positions.
Profit stops have been ratcheted up pretty snuggly at this point.
So, a downdraft would take me out.
Short setups are ready too, but they require price to turn.