Cobra's Market View

SPX bounces at Mon's gap.. and KEY level 2665-75.. making the weekly candle very ugly gravestone into the 20w SMA .. bears in control

AAPL reports Tuesday, May 1
Happens every quarter: like clockwork, “everyone” is lowering expectations, scared because semis weak, because guessing...
One day they’ll be right

"read between the lines"
https://money.usnews.com/investing/stoc ... aapl-stock

Al_Dente wrote:AAPL reports next Tuesday, May 1
...

Well, that Tuesday is 7 trading days away.

fehro wrote:SPX bounces at Mon's gap.. and KEY level 2665-75.. making the weekly candle very ugly gravestone into the 20w SMA .. bears in control

weak.. mind Mon's gap QQQs nLOD

K447 wrote:

Al_Dente wrote:AAPL reports next Tuesday, May 1
...

Well, that Tuesday is 7 trading days away.

correct
not "next" Tuesday but Tuesday, May 1

fehro wrote:/ES mind the triangle… H&S on SPY yLOD goes measured move -$3.85 from yLOD.. "IF" we break down hard.. mind all the open gaps under us

ding ding

Bill Bane's morning porridge, re-posted at Zero Hedge. He lit into Apple essentially asking how long people would continue to pay higher prices for something where the price should be falling rapidly. The numbers from others imply we may be there, the great inflection point. It would explain why Cook is willing to take the risk and immense expense to vertically integrate and capture a larger percent of what could be shrinking margins. Anyway when a big time guy in a London high rise starts casting doubts then clearly the "establishment" as in major pension fund advisers, are worried.

I hope everybody saw the explanation for the stick save on VIX yesterday https://www.zerohedge.com/news/2018-04- ... ock-market. Saving that for the next VIX roll over. I am guessing it is exploding higher today.

Al_Dente wrote:AD at 11:14 ET
NY declining stocks = 2.9 x advancing stocks
NY declining volume = 2.4 x advancing volume
(these were 2x and 1x just an hour ago)...

AD at 12:18 ET
NY declining stocks = 2.1 x advancing stocks
NY declining volume = 1.6 x advancing volume

Zerohedge claiming the currency markets are taking the DNC lawsuit seriously. I am thinking that Jesse Livermore was correct when he said "the market makes the news".

Yesterday morning there was a ten point bounce between down legs, just say'in.

Good B point

double bottom or not, will have to wait and see. my guess is not.

I was at dentist office so missed this short. Now I need see whether bears can make a breakout here or bulls can make a double bottom here.

SPX at VERY key support.. we sideways all day.. look to a big gap on Monday

fehro wrote:SPX at VERY key support.. we sideways all day.. look to a big gap on Monday

Another reason 2665 is Very key support? Any penatration below 2665 invalidates an Eliott Wave impulse wave up from the early April lows.

mini rebound target, exceed it first bulls need.

I have ES VWAP at 2675.50, so confident we will touch that sometime. The 11:30 ish peak at 2678.75, sitting at the S1 pivot looks like a possible second target.

ES VWAP 2674.75 and rising. About to see if it offers any support.

fehro wrote:SPX at VERY key support.. we sideways all day.. look to a big gap on Monday

Triangle.. into the close.. look to a 10+point gap Monday