Cobra's Market View

TICKs are not helping the bull case....

Trades with cats wrote:fehro,
you are looking at reality, I am talking about the Unicorn number the Saudi's need to fund the grand plan. Trump needs 40 oil if people are to actually have any benefit from tax cuts before the November elections. Hedge funds are not adding to their longs, so you know they are nervous.

yup.. add all those electric cars about to come on line by the big manufactures.. oil long term will be toast.

https://www.bloomberg.com/news/articles ... l-industry

https://www.zerohedge.com/news/2017-12- ... cargo-ship

https://cleantechnica.com/2018/01/01/sh ... axis-next/

Just One city, yup just 1 ... in China has more electric buses than all of America’s biggest cities have buses

If 16,359 buses sounds like a lot, that’s because it is. As shared by our friend and contributor Tim Dixon on EV Obsession, that’s approximately 3 times as many buses as New York City has in its fleet (all buses), and nearly 8 times the total Los Angeles has (see chart on right).

S1 pivot area seems to be holding this market up!!

SPX pink H&S .. yellow one toast SPX and SPY at neckline… holding so far..

41 % of US Metro buses running on alternate fuels. Translation compressed natural gas.

There goes the OR low and the overnight low. Darn I scratched my short instead of gutting it out. At least I have 2:00 to look forward to

New to me, ETF GVIP or in English Goldman VIP fund that follows the top 50 hedge fund holdings. Supposedly like the S&P 500 on steroids. So short this, short oil, go long the dollar and long 10 year treasuries and you have faded the hedge funds. All joking aside this may be a better canary than the FANGS index.

TICKs are trying to climb back to their MA lines....

My chart has gone to mild positive also.

For us home players:
https://www.youtube.com/watch?v=PTgt8LKQjCM

Continuing my short story (SPXS), I realized I put my stop loss in wrong and it didn't execute. Then it ran back up to breakeven (good) and I got a little greedy. Now I'm slightly underwater and hoping Trump dumps the market at 2:00. Not sure this ride has been worth it. Ha!

The market is not as wild as it was a month ago or back in February. It is quieter, stuck in a range.

double bottom, the low might be in for today.

Brick wall holds 2665/75 LOD goes.. buckle up

TLT grn

te_fern wrote:Continuing my short story (SPXS).... hoping Trump dumps the market at 2:00

Maybe more like 2:30. But it could be a cause and effect, hard line tone from POTUS.

As Fehro and others have been pointing out for a couple months-- SPY 265-66 is the magnetic center of its concentric circle of ranges.

Last 15min bar touched the (upslope) 15min 200ema and is now struggling to hold above.

fehro wrote:Brick wall holds 2665/75 LOD goes.. buckle up

buckle up AAPL H&S 5m 3 day.. it goes look for -$4.50 drop .. INDEXes will follow /CL tries to push us up

Oil is done for the day CL pits close at 2:30 Eastern. Running on Globex platform after hours.

fehro wrote:

fehro wrote:Brick wall holds 2665/75 LOD goes.. buckle up

buckle up AAPL H&S 5m 3 day.. it goes look for -$4.50 drop .. INDEXes will follow /CL tries to push us up

neckline adjusted.. possible retest… SPX .. watch AAPL /CL bounces indexes.. retests breakdown level again 5m /CL