Cobra's Market View

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the pullback overnight will be bought? will try again to break the line above?

members only update starts here: http://www.cobrasmarketview.com/2019/01 ... ay-update/

fed speeches all day

Overnight gap down on ES, NQ and YM. After I clean up some holdings I will be away from the keyboard. Good trading to all.

it's clear a good time to buy dip ,don't miss !

note M
Macy's

Like to see the TICKs start moving up....

The short term MA lines have crossed to the bearish side. Be careful here.... Can change quick though....

Yesterday was distribution to retail. Expect more as we sink back down.

Watch the last part of Futures Trader 71's daily you tube from this morning. He puts up his fancy chart that shows ES by under 10 lots, 10 to 99 contracts and over 100 contract trades. Distribution to retail. Institutions (over 100) started selling mid day.

Semi's are bouncing well after the pullback....

For what it's worth FT71 sees volume profile calling ES 2582 as the line in the sand Bulls must get the market over to take back control.

Doesn't 5G build out without Chinese chips make for a golden era for semi's ?

Trades with cats wrote:For what it's worth FT71 sees volume profile calling ES 2582 as the line in the sand Bulls must get the market over to take back control.

TWC, where do you see that line for cash SPX??

At the trend line, looks like it wants to go higher??

Several on Twitter saying similar line in the sand, so it isn't a line, more of a zone. Basically around yesterday's cash close.

Needs to close the Gap, which would be around TWC's line in the sand....

Trying to back test Al_D's red MA line. Then let's go higher!!

Not my line in the sand All the chart readers on twitter. Makes you wonder if that rule about the market ignoring consensus is about to trigger.

Here is Coolbiz from 45 minutes ago.
"SPX should not exceed 2595.32 (@2568 now) Or Int (A) is extending higher yet in Minor 1,2,3,4 & 5 (less likely to happen) need to be aware for trades."
Because last night after the close he posted this
"Intermediate (A) has likely ended as Minor A,B & C at 2595.32 as projected on Jan 7th. We should see a drop of 50%-61.8% for Int.(B) in coming weeks." His chart shows that B at around 2440.

And then we have the boy wonder saying somewhere a little bit higher billions of hedge fund money will suddenly decide to get long as buybacks kick in.

Makes you feel like a WW1 trench soldier after the artillery has stopped but the attack hasn't begun.