Cobra's Market View

Three days worth of volume. The Fib bands on this are a 21 EMA mid with a 20 bar ATR times 2.616 for the band.

A good day for SH, the inverse SPY ETF.

CBOE QUICKIE
The VIX 40 Level
https://www.youtube.com/watch?v=A19eKEXoIzU

Valid breakdown and now the rebound looks like a bear flag.

Struggling at the 3700 level!

Al_Dente wrote:CBOE QUICKIE
The VIX 40 Level
https://www.youtube.com/watch?v=A19eKEXoIzU

Good perspective, it could be the case that we don't get over 40 on the VIX.

Things are relative though, so it all depends on what expectations are and what unfolds. We'd need to have a crisis IMO for the VIX to spike - usually, when the dollar spikes, it is followed by some sort of crisis.
Only time will tell. Thanks for sharing the video.

New development: $CPC > 1, if today closed stay above 1, the dead cat bounce is over.

Intraday, /ES support right at LV area of weekly market profile. per auction theory, you know the routine. pivot at yesterday's LOD

Daily rejection sign from $NYAD, daily LL is key give away, a trade under the green zone will put weekly in Red, Bulls are in defensive mode, Bears are back and roaming once again.

I think there is hidden buying present.

Serenity, Thanks for posting the link about CVNA. I don't trade the news I just follow the money. But appreciated reading the article and will continue to watch CVNA with that article in mind. CVNA had a good amount of selling today by small funds. Cobra's blog is a wonderful place to share info. Thank you to Cobra also.

I really like this chart. ($SPX daily 1x ATR39 with SMA 5/13)

First it shows how little selling has occurred relative to the 2011-2018 time period. And it shows that until we get a valid crossover that there is no long term trade for me. The SMA 5 keeps bumping SMA 13 but can't cross it. Yet!

merryme wrote:Serenity, Thanks for posting the link about CVNA. I don't trade the news I just follow the money. But appreciated reading the article and will continue to watch CVNA with that article in mind. CVNA had a good amount of selling today by small funds. Cobra's blog is a wonderful place to share info. Thank you to Cobra also.

We don't trade based on news either, but I saw on the local news in my state that they are selling Lemon cars. Anytime a company has lots of lawsuits or CFO, or CEO step down, they have to get the money from somewhere to settle down. Shareholders don't lose money. Stockholders lose their shirts.

Good Luck whatever you do.

Well, guess that's it for today. Here's what Thursday tomorrow looks like: https://stockcharts.com/public/1684859/ ... /533449387

Thank you guys, I'll see you in another thread soon.

Before the close, please take a little time to vote for me, thanks: https://stockcharts.com/public/1684859/ ... /533449387