Cobra's Market View

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Small gap down, below yesterday's low, so not sure if the gap will be filled or not.

Nothing changed since yesterday's opening statement on Global ES, the text book target is 1390. Now it reached Fib 61.8 1-2-3 Formation target and 100% MM target and in strong support area, so may take a reset here, let's see.

shafa

Momentum Block Update:
Houston, we have a problem!
Concurrent softness in currencies/futures/volatility were observed at major turning points (in this case direction will be down). Trade carefully. Information is more useful to swing/intermediate traders, but day traders can also benefit from it by not betting against the trend..

Eurozone contraction http://screencast.com/t/qLNHMrMfjg
China’s hard/soft landing http://screencast.com/t/8haSDdiFrcd

CHINA STIMULATES
“People’s Bank of China injected RMB145 billion via reverse repo”
http://www.alsosprachanalyst.com/econom ... -repo.html

Vixies were having a party in the BEAR camp at the close of yesterday. Looks like music is getting louder and louder (VIX future are up 1.5% in the premarket).

Ned Davis Research
“Our research suggests that the excess in housing has been eliminated…”
http://screencast.com/t/3BeJ8K253j2

uvxy beginning to show divergence on these lows. watching for next new lows to begin to form a low on the indexes with divergenge in volatility

So we gap down below 1400. Let's see if there are buyers!

the open.

Will divergence play again?

TradingJackal wrote:So we gap down below 1400. Let's see if there are buyers!

MUST FILL GAP! MUST PROTECT 1400!

IWM must hold here else watch out below!

Cobra wrote:the open.

consolidation favor bears?

Can kick schedule.

stucap wrote:

Cobra wrote:the open.

consolidation favor bears?

wait, cannot say it's consolidation yet.

Cobra wrote:

stucap wrote:

Cobra wrote:the open.

consolidation favor bears?

wait, cannot say it's consolidation yet.

thanks.

Paper/scissors/rock chart
Spy opened right smack on top of the daily bolinger centerline (neon dotted green line on top panel)
Recently, it hasn’t stopped there (red circles)……..we’ll see

SPX...looks like we could use a small wave down on the 1 minute??

Looks like the $ is trying to form a H&S..Something to be aware of.

chart by stocktiming