Cobra's Market View

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the pullback overnight probably will be bought. don't forget roller coaster show at 2 pm today.

members only update starts here: http://www.cobrasmarketview.com/2019/05 ... ay-update/

Put/Call ratio suggesting this rally will need a pull back, I am leaning bearish today.

sell first with tight stop

Key supports

FT71 showed on Bookmap how Apple earnings was a trigger for a massive stop run. Then it flat lined until Asia opened and they did what they always do.Euro zone trading brought it back down. Now we will see what happens with all short positions pretty much closed out.

Trades with cats wrote:... until Asia opened ...

Note that some Asia exchanges are closed, such as China for three days, Japan, and a couple of others, IIRC

K4457, Thanks for that!
So the second spike up after Asia opened would have been unusually light volume.

it's morning hourly filled black bar.

good start, morning bears can not lose today. half off the table, stop at 56. coffee time.

No buyers.

Trades with cats wrote:...
... after Asia opened ...

I do not trade the overnight and after hours stuff, but you might want to monitor (keep track of) which exchange holidays are scheduled for which countries.

Watching this trendline this morning for eventual support....

A trade lower than 47, where the short squeeze started yesterday, we will end back in yesterday's trading range, if so, I am expecting more weakness to continue, Fed or no Fed.

There is a small double bottom there which seems to be giving some support....

How much buying power is really left? Think we need to consolidate or break lower to refresh.

Yields diving now, longer end tightening up. 10-yr below 2.5%

Looking at at triangle now....

How yesterday's end which is a surprised to me, today started out the same will it copy yesterday's path. I will be very surprise.

wishful thinking.