12/08/2020 Live Update

[Cobra]

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No idea up or down from here, maybe 51% chances the low was in or close (just missing a revisit). Possible range day.

[Cobra]

The members only update starts here: http://www.cobrasmarketview.com/2020/12 ... ay-update/

[Cobra]

Members only update at 10:08 am
http://www.cobrasmarketview.com/2020/12 ... ay-update/

[Cobra]

It's morning hourly hollow red

[Cobra]

51% chances of double bottom. Break above the day high to confirm.

[Al_Dente]

FEW HOURS AGO:
FDA Analysis Of Pfizer COVID-19 Vaccine Finds It Effective And Safe

https://www.npr.org/sections/health-sho ... um=twitter

[Al_Dente]

As bulls attempt to high, they need more AD

[Cobra]

Members only update at 12:03 pm
http://www.cobrasmarketview.com/2020/12 ... ay-update/

[JFR]

ES daily. Pause at the top. Strong resistance. Breakout or pullback?

[JFR]

SPY 5. Gap down. Filled and then some.

[Al_Dente]

"Stimulus Deal Stalls"

[Al_Dente]

Nomura’s McElligott:  Call Volumes "Absolutely Absurd"
 The overshoot in sentiment is starting to get scary, especially ahead of quad witch next Friday.
McElligott notes, this “sentiment overshoot” frankly is really the most credible source of potential pullback risk for the next two weeks, 
as the “right-tail” CRASH-UP scenario remains very much the more likely “play” due to bullish/supportive options flow dynamics into Quad Witch Op-Ex and VIX expiry.

[Al_Dente]

"Flood of Day Traders Strains Online Brokers and the Backlash Is Swift"
[Yesterday] The trouble began about 9 miles northwest of the New York Stock Exchange, in a squat, unremarkable building.
There, inside a critical data node in the U.S. financial system, a crucial piece of hardware failed.
https://www.bloomberg.com/news/articles ... markets-vp

[Cobra]

The coming pullback should be bought as it's 2+ hours without touching EMA20.

[BullBear52x]

Are we there yet? bears almost got a reversal in price action, close but no cigar, best hope for bear today is an overshoot 2x top, for now bulls are still marching on. ES

[BullBear52x]

I am selling this week, Cash SPX is behaving like last week, down Monday but only push higher the rest of the week. I will find excuse to sell the rest of the week, (warning: Counter trend) this is the time when I bagged 30 handles I may hold overnight. be nimble as the hopium is strong.

ES. 2 X top area.

[BullBear52x]

This could be a good spot to take bearish risk. weak momentum and overbought for swing counter trend. Cash SPX.

[Cobra]

This 2nd pullback, there's no guaranteed it'd be bought anymore.

[Al_Dente]

"McConnell says he'll stop demanding liability shield in aid package if Democrats hold off on state, local aid"

[Cobra]

Members only update at 3:33 pm
http://www.cobrasmarketview.com/2020/12 ... ay-update/