Cobra's Market View

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consolidation, bias is up.

members only update starts here: http://www.cobrasmarketview.com/2018/01 ... ay-update/

The TICKs are starting out the day heading down....

Can we get a double bottom in the smalls??

The answer is no...

careful.. IWM nLOD nears key support VXX green gaps up tests yHOD…..

Rob Hanna
"Current market conditions appear abnormal"
http://quantifiableedges.com/highly-unu ... x-and-vix/

Nothing slowing down the semi's...

According to Business Insider, the market is tracking perfectly with earnings ESTIMATES
(i don't have that chart)

There's a pullback in the Semi's....

ES overshot the overnight low by 0.5 points for now. Question is will the possible gov't shutdown tank the bond market for a second day and trigger equity selling? ES downside targets are 2789 and possibly 2783.5 based on price action.

AAPL
ATH
and broke the neckline (daily) on an inverse H&S

well at least we seem to be getting into roller coaster season, every day whippy, vix is ripe.

ES Pivot Point 2797.50 was good for a single doji bar on the way down, see if it is resistance.

AD bears are strong at the moment
(except bear volume on the nas is weak)

NY declining stocks = 2.7 x advancing stocks
NY declining volume = 1.7 x advancing volume

Nasdaq declining stocks = 1.8 x advancing stocks
Nasdaq declining volume = 1.0 x advancing volume

The other day “trades with cats” referenced SPX on 15min using RSI-14 … and noted that below 30 = buy most every time
(cats: please correct me if I’m wrong)
Here’s the RSI-14 behind IWM 15 min … interesting…
I didn’t draw red boxes for tops at 70, but that looks good too, DEPENDING ON YR TIMEFRAME
THANKS CATS

guess rangey into weekend, then avert govt shutdown rally comes early next week, then lots of earnings...if they suck, maybe we see some downturn, if not, next stop Pluto.

Wasn't me, it was Northman Trading's idea. His point was that someone was triggering a buy everytime RSI 14 got below 30 on a 15 minute chart, while a year ago it was the same on a daily chart.

My issue is that there is no good sell signal to go with it. Any reasonable stop loss and you are better off with buy and hold as not every drop is followed by a buy signal and sitting out a 50 point run up kills your edge.

Al_Dente wrote:AD bears are strong at the moment
(except bear volume on the nas is weak)
NY declining stocks = 2.7 x advancing stocks
NY declining volume = 1.7 x advancing volume
Nasdaq declining stocks = 1.8 x advancing stocks
Nasdaq declining volume = 1.0 x advancing volume

NY declining stocks = 2.8 x advancing stocks
NY declining volume = 2.2 x advancing volume