Cobra's Market View

K447 wrote:What time duration from market open do you use to define the 'opening range'?

The three which are commonly used, and for which database info stretches back at least ten years in most software applications, are the OR-15, OR-30, and OR-60. (Open to the 15min, 30min, or 60min mark.)

Some people use the first 2min bar or 5min bar as an OR on an individual stock, watching which way price breaks that first 'range' to quickly measure market sentiment on it when the stock has a huge news-driven or earnings-related gap.

Daniel wrote:

champix wrote:2702/2703 is resistance

SPY running into resistance, in the 15min timeframe, at the (downslope) 200ema. (271.25)

.. and now well above, fresh HOD ca 271.65

"February may set a record for U.S. stock outflows amid volatility resurgence"
https://screener.fidelity.com/ftgw/etf/ ... _SVC000204

Daniel wrote:

K447 wrote:What time duration from market open do you use to define the 'opening range'?

The three which are commonly used, and for which database info stretches back at least ten years in most software applications, are the OR-15, OR-30, and OR-60. (Open to the 15min, 30min, or 60min mark.)

Some people use the first 2min bar or 5min bar as an OR on an individual stock, watching which way price breaks that first 'range' to quickly measure market sentiment on it when the stock has a huge news-driven or earnings-related gap.

Thanks for the clarification.

I asked as this was posted this 3 minutes after 10:30

Trades with cats wrote:Three minutes to go for setting the opening range ...

I also utilize first 60 minutes for opening range of the day. And every sixty minute block after that, from :30 past the hour to :30 past the next hour. For me, the hourly bars end at the bottom of each hour.

Six of them in the day, plus a final 'close out the day' 30 minute bar.

Market opens on the bottom of the hour, then Europe closes at bottom of the second hour (11:30 eastern).

WARNING, POLITICS:
A good roundup of thoughts on the Trade Wars, and how they may impact the markets.
“Analysts Can Think Of Worse Things Than A Trade War – Like Say, ‘An Asteroid Hitting The Earth”
https://heisenbergreport.com/2018/03/03 ... the-earth/

nibble short here 2712 SPX based on oil rally, 60m ES bear flag, /CL stalls at 50d… and dollar pushing … if not that 50d SPX will get tagged.. but 20d needs to hold on a pullback

Sorry, I missed the question on OR which Daniel answered very accurately. I personally am sticking with tradition as my trading motto is "Our success comes from our lack of innovation" so 60 minutes.

I am a slow typist so I often am a bit late when trying to be timely.

Everybody uses opening range, but to me it doesn't have the magic powers of Pivot Points, the Mid or VWAP. I have it because it is part of a bundle from Fat Tails that includes overnight high and low as well as yesterday's markers.

Big Tech, year-to-date % performance, with spy in purple for comparison

this bull shall still have legs.

K447 wrote:What time duration from market open do you use to define the 'opening range'?
/ ... /
Thanks for the clarification.

As Al Dente would say:

Daniel wrote:

K447 wrote:What time duration from market open do you use to define the 'opening range'?
/ ... /
Thanks for the clarification.

As Al Dente would say:

YEAR-TO-DATE % aggressives (solid) and defensives (dash)

fehro wrote:

champix wrote:GM,
On a daily basis I will bet on the long side, if the S&P500 manages to stay in its black channel.

fwiw… yeah I know it's ZH .. but those charts are a tad similar…

https://www.zerohedge.com/news/2018-03- ... apan-1990?[/quote

conspicuous! interesting on timing, thanks for sharing - will see if she can retake that 50ma..if we don't, could see that 200ma fairly quick..market in guessers land for now..

Unstopable ?

Smalls, 15 min
“V” formation, target is a test of the 27 Feb high
http://thepatternsite.com/vtopbot.html

champix wrote:Unstopable ?

trade war effect

Maybe some market participants read the trade war as NAFTA confined not the whole world?

.

champix wrote:Unstopable ?

over this then maybe

Daniel wrote:

K447 wrote:What time duration from market open do you use to define the 'opening range'?

The three which are commonly used, and for which database info stretches back at least ten years in most software applications, are the OR-15, OR-30, and OR-60. (Open to the 15min, 30min, or 60min mark.)

@AnthonyCrudele uses the closing of the first hour bar as a key ingredient for his trading strategy. Keep in mind he swings and daytrades serious size.

.

the pullback might be bought around here.

Well, we are at the 50% retrace of the drop from Tuesday and this thing is out of steam. Looking to see if that ES 2708 pullback low holds or if we fade away this afternoon back to VWAP /Mid somewhere around 2700. I saw that Friday's high had acted as support on the way up so yet another reason for ES 2700 to 2696 area to be support.

Last year a 15 point drop in the afternoon would have been a big deal, but not this year. It is that darn recency bias hard wired into our brains and programmed by the Fed!