Cobra's Market View

The volume profile yesterday was a block so the potential is there for a fast hard fall. We are above it but we all saw how quickly it moved up on that 6 AM tweet.
So we wait for 2672 to be in the rear view mirror knowing that a slip could have this market drop back to 2640.

Clueless wrote:

victorm wrote:we are out of huge consolidation, I would not short, those wiggles are too short to catch ....

Has to close above it and then confirm otherwise it is hot air/bull trap.

that's where you going to lost 30% of move at least. You are going to buy when I start thinking to sell. Get out of this heard concept otherwise you will earn peanuts...

Comments already posted.

Testing VWAP...

60 minute showing the last two times ES was this high. I added normal volume box at the bottom because the Emporer's speach was extreme volume for the middle of the night but not equal to a US market spike. Those trend lines aren't hand drawn, they are machine drawn regression channels. I am no good at channels.

victorm wrote:

Clueless wrote:

victorm wrote:we are out of huge consolidation, I would not short, those wiggles are too short to catch ....

Has to close above it and then confirm otherwise it is hot air/bull trap.

that's where you going to lost 30% of move at least. You are going to buy when I start thinking to sell. Get out of this heard concept otherwise you will earn peanuts...

LOAD UP on the longs my friend since it is "out of the huge consolidation."

Trio of inverse H&S, update
Two out of three have confirmed, by breaking above their necklines

TICK is positive. Seems to have gotten ahead of itself first thing....

VWAP has gone from support to resistance. Let's see how many times price moves between VWAP and yesterday's high before something gives up.

could be some buyers around ema20, let's see.

Could be a flat to down bias for the next half hour because those London/Frankfurt day traders have a had a really great up trend day and it is time to start cashing in before the end of their day.

Clueless wrote:

victorm wrote:

Clueless wrote:

victorm wrote:we are out of huge consolidation, I would not short, those wiggles are too short to catch ....

Has to close above it and then confirm otherwise it is hot air/bull trap.

that's where you going to lost 30% of move at least. You are going to buy when I start thinking to sell. Get out of this heard concept otherwise you will earn peanuts...

LOAD UP on the longs my friend since it is "out of the huge consolidation."

Not sure what you mean by I would have lost 30%. If it closes ABOVE the consolidation area today and you enter tomorrow when it moves above today's high how is that equal to losing 30% at least?
Also, how do you trade breakouts?

Time to short crude, expecting it down to 60

Clueless wrote:

Clueless wrote:

victorm wrote:

Clueless wrote:

victorm wrote:we are out of huge consolidation, I would not short, those wiggles are too short to catch ....

Has to close above it and then confirm otherwise it is hot air/bull trap.

that's where you going to lost 30% of move at least. You are going to buy when I start thinking to sell. Get out of this heard concept otherwise you will earn peanuts...

LOAD UP on the longs my friend since it is "out of the huge consolidation."

Not sure what you mean by I would have lost 30%. If it closes ABOVE the consolidation area today and you enter tomorrow when it moves above today's high how is that equal to losing 30% at least?
Also, how do you trade breakouts?

I am guessing he prefers to buy near a reversal from the lows or during the consolidation range, so when the breakout happens he is already in, from lower.

Important EPS due tomorrow; all report before the open:
C
JPM
WFC

Al_Dente wrote:Important EPS due tomorrow; all report before the open:
C
JPM
WFC

yep. watch for break down of 18.60 on vix...

bias probably is up.

brokebybernacke2 wrote:

Al_Dente wrote:Important EPS due tomorrow; all report before the open:
C
JPM
WFC

yep. watch for break down of 18.60 on vix...

Could be headed to test 15-ish ?
Box inside a box, 2 hours

Hard to rely on TA when the market is just responding to tweets
“”'Could Be Very Soon or Not So Soon at All””

fehro wrote: try again LOD goes.. 3 days of thin air… all gaps..crazy man's target is 2615ish

I know you think I'm nuts… but SPX circuit breaker level 1 is 2480 fwiw.