Cobra's Market View

Overnight action, the two sell off was serious but bulls doesn't care.

Wait until last 60-90 minutes and then short??? seems like day that has sharp selloff at the end of the day.

Cash SPX Fib, a closed below 61.8% will be very bearish, indicates Friday's HOD fail to hold.

ES 5. Breakout to new resistance level.

More than 2 hours no touching of EMA20 which means the very first touch usually would be bought therefore now should be safe to say this bull shall have legs.

ISEE Opening Long Overvalued Long Options showing amateur exuberant (3:1 call:put) equity options
Undervalued Opening Long Index Puts Twice calls tell the tale DOWN

When Wall Street analysts are 36/39 on Buy Hold side and see $2 T valuation for AAPL with 141 % Debt to Equity, declining revenues
We might think twice
It's all right

QQQ SELLING < 234.45
SP.1 Jun Futes SELLING < 3,059.00
$SPX SELLING < 3,062.18
SPY SELLING < 306.21

Here comes the very first touch in 2+ hours, watch for buy setup.

Now beware of double top, just a reminder.

Well lookie what do we have here. SPY green and VIX green. oh oh!

Bulls are doing good so far, the yellow highlighted where the short sellers step up but so far the support seems to hold, well, half an hour to go.

jademann wrote:Well lookie what do we have here. SPY green and VIX green. oh oh!

$VVIX also some activity there too.

Well, guess that's it for today. Here's what Tuesday tomorrow looks like: https://stockcharts.com/public/1684859/ ... /533449374

Thank you guys, I'll see you in another thread soon.

Before the close, please take a little time to vote for me, thanks: https://stockcharts.com/public/1684859/ ... /533449374