Cobra's Market View

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triangle, bias is up but usually it's the last push.

members only update starts here: http://www.cobrasmarketview.com/2016/12 ... ay-update/

SPX opening 2264… minor gap up. mind the lower open gap. Orange rising wedge on the 60m

fehro wrote:SPX opening 2264… minor gap up. mind the lower open gap. Orange rising wedge on the 60m

SPY ex dividend.. gaps down red, with SPX gaps up green..

My system generated pivots and average daily range for the ES RTH today

Dow 30

http://www.zerohedge.com/news/2016-12-1 ... -managers?

The Great Rotation continued for one more week today with global equity funds receiving $21 billion in inflows in the past week according to Bank of America, the ninth-biggest inflow ever, as investors rushed into 'Trump trade', while money flowed out of bonds for seventh week in a row.

fehro wrote:http://www.zerohedge.com/news/2016-12-1 ... -managers?

The Great Rotation continued for one more week today with global equity funds receiving $21 billion in inflows in the past week according to Bank of America, the ninth-biggest inflow ever, as investors rushed into 'Trump trade', while money flowed out of bonds for seventh week in a row.

Just wait till January when all the 401K types get to choose their allocations. Or is it all continuous now? I am guessing it is like the old days year end statement and a choice sheet listing your 15 or so investment options.

Checking the longer term view of SPX:

Slip sliding ...

On the range so far ...

morning hourly black bar.

Not for daytraders, but this is an interesting chart. Secular momentum pointing upwards does suggest that any major correction should be a great buying opportunity. Think next year, think 1987 ...

Hard slogging today. Freezing also.

uempel wrote:Not for daytraders, but this is an interesting chart. Secular momentum pointing upwards does suggest that any major correction should be a great buying opportunity. Think next year, think 1987 ...

secularmomentum.png

only when this damn BULL let it go...so stroooooonnnngggggggggg....major correction, I am thinking even 50 points down would be treated as a great entry..lol

BachNut is done for the year.

The NYMO cycle appears to be down.
However, I do not have precedent for the NYMO action we have seen since the election.
This sawtoothing between the upper turn zone and the zero line every few days is not something I have seen.
What it implies for the time ahead is anybody's guess.
I know I don't have a clue in general, but my cluelessness is going to a new level here.

On the price side, things are a bit easier.
Previous punches through the upper keltner like we have seen have generally anticipated either
a) an important high, or
b) a period of trending (smooth or bumpy) that pulls the upper keltner steadily higher.
If we are to get (b), we should see a sequence of higher lows.
So, if Wednesday's low of SPX 2248.44 gets broken (or a subsequent low like it), caution is advisable.
Otherwise, a long bias (NYMO not withstanding) may be the way to go.

I am flat and have pretty much closed up shop for the holidays.
I have some long dollar positions that are in good shape and some long commodity positions that are hanging tough but could get the axe at any time.
Resting stops will take care of business from here.

Cheers everybody! Merry Christmas or whatever you do, blessings to all.
I hope you all enjoy the holidays, and I look forward to checking in here from time to time in the new year.
I think 2017 is going to be kick ass awesome for trading! Absolutely BachNutty!

For what it's worth, some plays today, results so so. Back later ...

Seasons greetings, BachNut, and to all here.

SPX flat.. VIX nLOD, nLOW. nears gap.. expires next Wed not today.. Indexes look weak..

TRANSports, and NDX weak Daily Candles