Cobra's Market View

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50% chances of double bottom or higher low or slightly lower low trend reversal.

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

GlobeX Range = $31.00
High = 3,334.50
Low = 3,303.50
50% = 3,319.00
.

SP.1 Mar Futures BUYING Above 3,303.50

Two/Three ISE Indicators = UP UP

And away

15 minute view says stuck in the middle again.

Pasta Boss brought up high yield last week. Looks like we have a support line that might change things if it's broken......

ST trend line that needs to be broken. Trying to learn from BB52 about being consistent, i.e. not switching my view from long to short to long. That costs me money.... Short looking so far..

Bulls are in control right now...

Oh man it's Deja Vue all over again. Sunday night, Monday morning repeat move. First time stopped at that high volume node (former resistance/support level) waiting to see if the outcome is different the second time around. If it breaks out volume profile says tough sledding going much further up.

I have ES 37.50 for the measured move second leg. Volume profile/past action says ES 40. Poor price action is making those look like good calls right now. Need more cow bell from Fed Reserve NY operations desk.

Still thinking ES 3340. Added benefit of being a significant options strike as it has a zero next to the decimal point.

$WTIC Target - 32 %
From 51.48 to 35

Testing the previous high, maybe a pullback here first, which as long as not sharp then it'd be an uptrend day. Key time.

Week Before Presidents’ Day [that's this week] Bullish since 1990
https://jeffhirsch.tumblr.com/post/1907 ... since-1990

More divergences

Dr. Copper:
The FT reports: "copper traders in China... have asked miners from Chile to Nigeria to cancel or delay shipments" due to a freefall in copper demand.
“It's not just copper that is seeing an implosion in demand: Chinese buyers of liquefied natural gas have also considered declaring force majeure, a clause that identifies natural disasters or other unavoidable catastrophes as cause for not fulfilling a contract.
https://www.zerohedge.com/economics/chi ... to+zero%29

OTHER SOURCES:  China on lockdown will result in a major negative impact on global trade.
The virus has given Powell free reign to cut rates and/or launch QE5. Markets have priced in precisely the likelihood that the Fed would step in and "fix" any stock selloff as a result of the world's global pandemic.

CCL Target + 75 %
From 41.665 to 73
+ 4.76 % Dividend

YTD Markets
Nasdaq-100: 8.39%
Gold: 3.67%
S&P 500: 3.59%
US Total Market 3.47%
US Dollar: 2.68%

YTD Sectors
Technology [9.3%]
Utilities [6.2%]
Housing [5.9%]