02/24/2020 Live Update

[Cobra]

Members only update at 10:03 am
http://www.cobrasmarketview.com/2020/02 ... ay-update/

[Cobra]

Morning hourly hollow red

[JFR]

GLD daily.

[BullBear52x]

The bulls fights is to have a daily hammer candle closed.

[Daniel]

Price is currently testing the OR-30 high, looking to break out to further gap fill, in SPY and QQQ and IWM.

[JFR]

TLT daily. Flight from the stock market.

[te_fern]

Looked a couple of trades and would have gotten chewed up. Think I'll wait on Daniel's 60 min opening range, good idea D!

[BullBear52x]

A large gap like today ain't gonna fill today.

[JFR]

USO daily. Down hard.

[JFR]

ES 5. Between a rock and a hard place. Bound by the pivot, the EMA 20 and a trendline. Waiting for a breakout.

[Daniel]

A large gap like today ain't gonna fill today.

Right now, algos are running simulations based on past history of how much gap fill will occur, what the odds are, etc. That's what is causing alot of the minor gyrations this morning that seem so meaningless, but are really just the aggregate of all these algos guessing. Glad you didn't get chewed up, Te Fern!

[Trades with cats]

6th test of this level since 4 AM Eastern. The 7 AM test moved through to 3265 ES, so that looks like the line in the sand for now. My best guess is since the European time zone traders had the big panic attack the bulls need to wait for them to go home in another hour.

[Trades with cats]

[Cobra]

Bias is up, maybe waiting for the ema20 to catch up then we'll see.

[Daniel]

SPY, IWM right AT daily VWAP now. QQQ is still a bit above. VWAP can be used by big institutions in their efforts at "price discovery", so it bears watching on an active day like today.

[Heck]

Capitulation a beach

CNN Fear edit 29 has 71 points UP

SP.1 Mar Futures BUYING Above edit 3,213.75 = UP

$SPY BUYING Above edit 3,214.65 = UP

SPY BUYING Above 321.24 = UP

$TRIN < 1 = UP

[JFR]

Large overnight/weekend gaps down on ES, NQ, YM and RTY.

[JFR]

ES 5. Testing down beneath the EMA 20. Still riding the trendline.

[Daniel]

SPY, IWM right AT daily VWAP now. QQQ is still a bit above. VWAP bears watching on an active day like today.

..quick update: all three now clearly below.

[JFR]

ES 5. Down to the support level.