Cobra's Market View

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the rebound overnight looks like a bear flag, so will resume down to test the overnight low?

members only update starts here: http://www.cobrasmarketview.com/2019/09 ... ay-update/

ES daily. Pulled back somewhat. Still well above the EMA 20.

Overnight/weekend gap down on ES, NQ, YM and RTY. RTY filled the gap in a hurry.

All Three Option Sentiment Indices = DOWN

it's morning hourly hollow red.

TICK update
15min

Warning: stockcharts is bad again on the 1min and 2min timeframes, maybe more

sellers stepping in.

Al_Dente wrote:Warning: stockcharts is bad again on the 1min and 2min timeframes, maybe more

Every day on an active day, something will be wrong with them, $TRIN is gone missing too.

ES one minute. Down to support.

Back later.

15m

The bull's first chance here, sharp rebound then it'd be higher low, the low was in. Either way, it's a range day.

I am eyeing 91ish.

Barron’s:
“Jamie Baker, who covers air carriers for JPM, has a simple, turbulent trading rule he calls “down 30 in 30” … buy shares of United Airlines Holdings (UAL) and its predecessor Continental each time they fall 30% or more in 30 days, and hold for 180 days. Just before this past week, Baker issued a note saying American had triggered his trading rule. He’s up a quick 8%.”
https://www.barrons.com/articles/value- ... 1568412936

Here’s a usable ratio that plots the rotation out of Growth and into Value:
$RAG:$RAV
or its converse:
$RAV:$RAG

New LOD will slide to down trend day. just saying.

91ish

Today is the first daily LL price action, tomorrow we will see the bull fighting back, not today. nope, nah ah.

From the late Bill O’Neil’s old classic:
" If the original market leaders begin to falter, and lower-priced, lower-quality, more-speculative stocks begin to move up, watch out !
When the old dogs begin to bark, the market is on its last feeble leg. Laggards can’t lead the market higher. Among the telltale signs are the poor-quality stocks that start to dominate the most-active list on market “up” days. This is simply a matter of weak leadership trying to command the market. If the best ones can’t lead, the worst certainly aren’t going to do so for very long.”