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No idea up or down from here, probably bias is up.

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

Only explanation is a short squeeze, TRIN and NYMO gone Hmmm. well, Honey hole operation once again.

Sell

First 5 handles always.

Don't know if gap will fill today, if gap rules applied it will not fill today, will see.

All Three ISE Option Sentiment Indices = UP UP UP

$VIX Target - 34 % from 15.06 to 10 = MORE UP

0.886 $TRIN Target 0 = WAY UP

SP.1 Mar Futures
BUYING Above 3349.25

MSFT 28% of S&P’s gains YTD; AAPL 15%; AMZN 13%; GOOGL 11%

4 Stocks = Two Thirds of $SPX YTD

http://datatrekresearch.com/

Thar she blows

BullBear52x wrote:Don't know if gap will fill today, if gap rules applied it will not fill today, will see.

What are your gap rules? Thanks!
.

sitting out now, got stopped out the other half.

FOR THE BULLS:
Goldman is advising its clients to increase their tech holdings … they prefer companies in the subcategory of software and services, and offer 16 names within that category:
https://www.marketwatch.com/story/it-is ... =rss&rss=1

FOR THE BEARS:
China accounts for over 19% of the world’s GDP … Nearly a third of the Chinese population is reportedly under quarantine.
Demand for oil has collapsed 
Copper demand has taken a hit … ditto liquefied natural gas
The Baltic Dry Index—a key barometer of global trade activity—has declined as well.
Dwindling Buybacks

Order book very lopsided at ES 3370 assuming a major options level.

QED wrote:

BullBear52x wrote:Don't know if gap will fill today, if gap rules applied it will not fill today, will see.

What are your gap rules? Thanks!
.

1. Always trade in gap direction if not fill right away. small gap or big gap
2. large gaps (10 handles or more) will not fill in one day. less likely to fill in one day
3. large gaps is always hard to trade and most likely gap and stay sideways flat. avoid over trade on them.

It's morning hourly filled black bar

Powell testifies NOW

My trading plan is sell out side band. sell only day. so here it is another sell setup for me.

This morning all the resting liquidity was up in this range, almost zero buy orders which is unusual. FT71 plan was to go short up here and ride it down for a 10 point trade. First part has worked out, now we will see about the ride it down for 10.

Fear no more, overbought but no fear.

For day traders, this is easy sell at any intraday level for 3-5 handles. I use RSI (14) as seen on my 1min. chart to buy or sell.

Looks like a pullback here is likely. Anyway, if breakout with strong bull bar here then it's an uptrend day, key time.