Cobra's Market View

like so:

te_fern wrote:

Al_Dente wrote:Three weed stocks have been quite volatile:
NUGS
GOHE
GBLX

Saw an article this morning where Sessions may go after the weed states....

this bull may have legs, but don't expect today to be like the previous 2 strong up days.

Not being very disciplined this morning with my process. Betting on this coming back some....

Weed Stocks- Sessions trying to sweep back the sea. Yea, lets lock these horrible people up!
Anyone familiar with the history of the criminalization of weed knows it was done with government propaganda movies appealing to racism and ridiculous medical opinions. Don't take my word for it, you watch Reefer Madness and make up your own mind. Same blue stocking crowd that favored Jim Crow and tried to outlaw rock and roll.

Tech back to opening level while small caps still sitting on yesterday's close. I am willing to bet I can find an article this weekend talking about institutional money put to work this week! Flip side is when that cash river dries up we will return to two way normal trading.

Semi's starting to participate since the early morning pullback...

ATHs and 52wk highs everywhere... but, there are some pockets of weakness: homebuilders, retail, consumer, long treasuries, REITS...

Transports still grn, but hitting their LOD

Renko shows the two likely supports , POC and Median Price. Median held last two days.

Median Price is the turquoise dash line. The deviation regions are based on that line.

NY advancing stocks = 1.53 x declining stocks
NY advancing volume = 1.48 x declining volume
Bulls better get going if they want to hold onto this triple-digit up day
Expect chop at this point in the AD

the pullback will be bought

Two of 3 indicators on my chart are now sell (ADX still dropping, needs to stabilize), so I gotta agree bulls better recover. First guess is we drift into a mild sell off at the close then it pulls back on Friday. Real question is how much institutional money is being held back for a better price?

Trades with cats wrote:Small caps not looking very bullish this morning

Of all the sectors I track intraday, IWM is the closest to a fresh LOD-- as RVX hits its HOD!

We may see a gap fill in IWM today.

Tech trying to break to the red again, small caps can't even fog a mirror anymore.

smalls intraday
knock three times
odds favor breakdown
at least to complete a "three push down"
rally here would give the bulls (false) hope

XLB, XLI each fresh 52wk high

Trades with cats wrote:Tech trying to break to the red again, small caps can't even fog a mirror anymore.

"To the moon, Alice."

USO fresh hod, also a 52wk high. XOP, XLE following to fresh HODs.