02/05/2020 Live Update

[Cobra]

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No idea up or down from here. Testing the previous high, key time.

[Cobra]

Members only update starts here: http://www.cobrasmarketview.com/2020/02 ... ay-update/

[Al_Dente]

TSLA
YOU GOTTA SEE THIS
Late yesterday, 3:50 p.m.
Tesla stock suddenly collapsed, dropping in second in what can only be described as the mother of all red candles.
https://www.zerohedge.com/markets/tesla ... to+zero%29

[BullBear52x]

I am bearish today and in a bearish reversal day mission today. it is another day, can I pull off 5-10 handles today, that is the question?

[BullBear52x]

TRIN is looking good V-POC is repaired. a reversal here will give bears a day or two to fight on.

[BullBear52x]

Always take 5 handles, thick or thin...

lets go for more! bears.

[Trades with cats]

In response to Tesla, a golden oldie from the vault.

[BullBear52x]

this could be a really good day for bears, looking at 3301ish.

[Trades with cats]

So this is Netflix will do well in China, oh, no Chinese operations only on steroids. Therefore, the virus vaccine development announcements are the trigger. I do not think 10 years of Central Bank positive re-enforcement will change dip buyers habits quickly. As Cobra and many many others have said repeatedly, tops are a process.

So now we are getting real with factories saying they will stay closed until end of the month. Looks like the PBoC is going to test the limits of major power debt creation. Of course what choice do they have.

[Al_Dente]

AD
ADV/DEC = bulls are 4x bears
UPV/DNV = bulls are 2x bears (THERE SHOULD BE MORE BULL VOLUME)

[Cobra]

Members only update at 10:03 am
http://www.cobrasmarketview.com/2020/02 ... ay-update/

[Cobra]

It's morning hourly filled black bar

[Heck]

All Three ISEE Option Sentiment Indices = UP UP UP

Two Undervalued Index CALLS for each Put = Big UP

$TRIN 2.758 Target 5.88 and AM Black Bar Filled ?

When the aircraft carrier left port we got on board with Mssrs Esper, Mnuchin and Ross

SP.1 Mar Futures BUYING Above 3288.25

New Highs Don't Lie

[BullBear52x]

Balanced area still, but this is what I am going with for now.

[Mr. BachNut]

Gapalicious!
All up gaps have been closed while new down gaps have opened.
Yeesh! The underlying has become the derivative...

NYMO is in positive territory this morning having made a higher low on Friday.
Two positive closes will confirm an up cycle underway.
If this move is corrective, it is time to look for a reversal (maybe by week's end?).
If this move is impulsive, we'll get follow-through perhaps after a pullback.
There are other scenarios, but let's keep it simple.
Double top or cup and handle are top choices on the menu.

Pac Man is being evasive at the moment.

I remain flat SPX and short an R2K runner with BE stop.
Looks like the runner is likely to stop out.
I have long setups percolating, but in need of further development.

[Trades with cats]

Of importance to Futures Trader 71 this morning was the news release from the English med lab at exactly the open of the European trading session.
Of significance to me is they were the ones who bought everything so in 45 minutes or so when they go home we will see what happens.

[BullBear52x]

There's potential of support here, bears are doomed again if so.

[Cobra]

Maybe a rebound from here first which if indeed then it's just a range day. Sharp down from here then it could be a downtrend day, which if indeed, I'll just watch, don't trust bears.

[Mr. BachNut]

Bonus chart.

This channel chart also suggests risk for both bulls and bears.

Channel was broken in an end of month flush but has been recovered.
However, price, so far, has only gone up to test a prior consolidation area.
The degree of selling and distribution up here is probably key.
We'll see what happens.

Monday was an inside day that resolved bullish.
If, per chance, we get a reversal by end of week that breaks Monday's low, it would complete a bearish hikake pattern.

Directional movement is bullish at present.

I don't know what will happen.

[BullBear52x]

back on full lot, south bound, chu choooo