Cobra's Market View

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no idea up or down from here. the chart is not bearish.

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

ES daily. Still well above the EMA 20.

3000 key, bearish all night so far.

Overnight gap down on ES, NQ (negligible), YM and RTY.

ES fills the gap. One minute. Up and down like a yo-yo.

All Three Option Sentiment Indices = DOWN
Market Greedy = DOWN
https://tinyurl.com/y4f4vq72

Looking like a flat narrow day today -
everyone on hold til after FOMC?
yesterday rng 12 - looks the same today

A boring range day, take the time to relax. FOMC day tomorrow will be the key day.

I bet it down today, will see.

TICK update
It’s incongruous when the NYAD is up but the cumulative TICK is down [like 9/13].
Generally, both “should be” in alignment.
Hence, when out of alignment, the TICK becomes a warning divergence that is usually “right,” but it can be “cured” rapidly.
Roughly: purple TICK is used for intraday; pink tick is short term
BUT PRICE ALWAYS RULES.
15min, 20 days

Internal Server error is back.

Relative volume doesn't count until tomorrow as it is futures contract roll.

Technically, VIX is sell-SPX, but it’s right on the cusp and could tip either way
60m

TZA, the 3x short smalls ETF, has been 15-minute delayed for literally MONTHS
Today it is updating real-time again on the intraday time-frames
FINALLY

UPV:DNV = 0.60x
DNV:UPV = 1.66x

Bulls have NO volume. They’re just dickin’ around.

Well the results are up in print. Fed's repo actions this morning.
$40.85BN with TSYs as collateral at a 2.1% stop out rate
$0.6BN with Agencies as collateral at a 3.0% stop out rate
$11.7BN with Mortgage-backed securities as collateral at a 2.1% stop out rate.

So bottom line is the banking system has run out of liquidity. You know they should be like a lazer guided bomb at the presser tomorrow asking why the Fed has allowed the banking system to lock up and conducted an operation not seen in 10 years. Of course you know the follow on questions.

I don't want to be greedy and stupid, but I do think the pundits I read are correct as I also hear the siren sound of junk bond ETF's calling out "short me, short me".

HAPPY HOUR