Cobra's Market View

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For now it looks like a bear flag, but i know bear flag nowadays usually doesn't work, so let's wait and see.

members only update starts here: http://www.cobrasmarketview.com/2015/12 ... ay-update/

From 8:59AM

ES: Hourly projection chart for today, no secondary projection unless market breaks 2012.

2035-2044 here comes the mini train. If bulls get a leg 2 then I'll extend the projection to 2050s

--
My evil scenario says we close 2060-2070 today

SPX mind the 200d/50d/50w upside 2062 range.. and the gap to the downside 2025-23. 2020 range Very key, horizontal support, previous FOMC spike high, uptrends. that level goes.. look for 1950 next gap in a possible big hurry. VIX 15m. a tad messy here.. wedge, possible invs H&S.

SPX .. mind the "possible" .. 5m.. could take all day to RS, loose 2042 range orange neckline.. look for open gap.

no big drop to bear so it opens to bull stick save. overall it is short term neutral. worth noticing USD/JPY drop big overnight but since rebounded.

ES: The hourly candle close will tell us a lot, either top wick rejection or bulls able to hold half and go here.

This is the 8EMA backtest buy for the bulls with 2012 stop

long 202.50 on my guess at relief rally

SPX .. open gap… so so.. close.. TLT Gaps up over it's 200d!

NDX, gaps below it's 50d.. COMPQ on 200d, SPX on 100d .. VIX spikes up to 21.47!

I bot more longs at 2018, stop at 2012 still

Some interesting stats driven by yesterday's very large drop.

http://www.cobrasmarketview.com/2015/12 ... ay-update/

-D

7 mins until hourly closes

Out of Bounds wrote:long 202.50 on my guess at relief rally

FYI, SPY was ex-div today

ES: Hourly candle top and bottom wick. No clear winner from both sides, the existing pattern is still "hold half and go" from the previous bull candle. Looks like the scenario of visiting the range high and range low from last night's report came true.

Unique wrote:

Out of Bounds wrote:long 202.50 on my guess at relief rally

FYI, SPY was ex-div today

Noted, thanks.

9:05 AM 12/18/2015
could take 2007 before zig-zagging higher but essentially low is in place (I think

not trading cash today.

ES: If breaks 2012 then there's no support until the 2002 level. The market has visited both the range high and range low now.

Looks like a scalpers market this morning..

daytradingES wrote:9:05 AM 12/18/2015
could take 2007 before zig-zagging higher but essentially low is in place (I think

not trading cash today.

2007 as in ES or SPX?