10/28/2020 Live Update

[BullBear52x]

Volume is good today, this could be the bottom (????) for few days I hope, for day trade doesn't mean much.

[Cobra]

Break to the new day low with strong bear bar in the next few bars then it's a downtrend day.

[Al_Dente]

SHORT internals
SHORTS

[BullBear52x]

-100 SPX point day when VIX above 30 is normal, it will do the same on a dead cat bounce. this is a day traders' heaven. today gap and GO and it will stay as flat and make it as hard as possible for the honey badgers to make any money.

[Al_Dente]

"Monday was a 91% downside day. Multiple 90% downside days close together usually indicate that a significant decline is underway (there were six of them between February 24-March 12), so another 90% downside day today or lack thereof will be diagnostic.

"Thanks to GE looks like there won't be a 90% down volume move today

[BullBear52x]

It's needed pull back, Weekly at mid band but RSI (5) is still not over sold enough, more to go or a sign of strength either ways this dip is a blessing for dip buyers on this time frame.

[BullBear52x]

On a daily, need new LL for seller to earn another sell coupon.

[Cobra]

The very first test of EMA20 in 2+ hours, watch for EMA short setup.

[BullBear52x]

If down trend day will be, it will start here, but I am a buyers and well in the money already, if not selling here bulls will hit a home run, intraday bulls, GO!

[Al_Dente]

Oversold on the daily
but see in the september rout it remained oversold for nearly a month !!

[Cobra]

Probably it's a valid double bottom breakout, the rebound may still have a some rooms which also means it's a range day today.

[BullBear52x]

Last sell, RSI > 70 indicates strength also. lets go bulls.

[BullBear52x]

Cash SPX Fib, bears need to keep the lid here, don't want to let the dogs out.

[BullBear52x]

Last sell failed, it's bulls turn next.

[Cobra]

Members only update at 12:20 pm
http://www.cobrasmarketview.com/2020/10 ... ay-update/

[Cobra]

Looks like bulls are running out of steam, back to watch for EMA short setup again.

[MrMiyagi]

Looks like bulls are running out of steam, back to watch for EMA short setup again.

Likely was a bit of short covering as European market closed at 12:30 ET

[Al_Dente]

Nomura:
"Large Lot" sellers are back... professionals are starting to position for an imminent systemic risk event 

[BullBear52x]

Buy entry, HL for bulls if they want to make name today.

[Cobra]

Now let's see whether bulls can make a double bottom here. My guess is we're in a range bounded by black lines.