Cobra's Market View

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all time new high so might be a trend day today.

members only update starts here: http://www.cobrasmarketview.com/2018/09 ... ay-update/

So around 7:30 AM Eastern time with low participation. Afterall the dollar dropping like a rock is now good.

I found this interesting, that is the non-THC component of cannibus that is used medicinally.
--
"BNN Bloomberg Television reported earlier on Monday that Coca-Cola is in talks with Canadian cannabis company Aurora Cannabis Inc. (ACB.TO) to develop marijuana-infused beverages. According to the report, Coca-Cola's talks with Aurora are focused on CBD-infused drinks to ease inflammation, pain and cramping.

Cannabidiol is a naturally occurring cannabinoid constituent of cannabis. It is a chemical in the marijuana plant often used for medicinal purposes, and does not have the intoxicating effects like those caused by tetrahydrocannabinol or THC."
source:
http://www.rttnews.com/2935547/coca-col ... rages.aspx

consolidation, bias is up.

from twitter feed
SPY goes ex dividend tomorrow. Suggestion to simplify your life, go home flat tonight.

Bands of resistance at every even point, 31, 32 and 33. When 32 fell they moved their orders to 33.5 and 34.

the 1st breakout attempt failed, but looks like bulls are going to try the 2nd time. up from here then likely it's uptrend day.

not a strong uptrend I'd like to see but still it's uptrend, at least this bull shall have legs.

Rob Hanna's latest:
http://quantifiableedges.com/spx-near-m ... thly-lows/

Back into congestion. Trying to be a smart trader and wait for a re-test of the high. With a low volume melt up you just know it should blow up eventually.

the very first test of ema20 in 2+ hours usually would be bought. let's see. Need a setup first of course.

now beware of lower high trend reversal. I'm not saying it will. it's just how I trade. I see risk, I book profit at least instead of betting my luck. it's me of course.

false alarm, the bar closed not bad, so can wait to sell but still generally it's where I'd consider booking profit.

vol surge, may pullback here first then we'll see.

HAPPY HOUR

market stick saved again! G'mar Hatima Tova!

From my Twitter Feed

There is a mismatch in call-put open interest in SPX options that expire tomorrow. 2920 strikes and higher. Well over 150k calls positioned. Brokers are short these. So as the market moves higher they need to buy more and more emini's or stock.

That goes a long way towards explaining today.