Cobra's Market View

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Guess bias is up. Big guys are probably gone, so generally no big selling pressure...

The members only update starts here: http://www.cobrasmarketview.com/2019/12 ... ay-update/

ES daily. A doji. Well above the EMA 20.

ES five minutes. A small move up and a small move down so far.

Overnight/weekend gap up on ES, NQ, YM and RTY.

From Autochartist. Nasdaq. Channel Up.

ES five minutes. Dive. Dive.

Back later ...

BA is the #1 weighted stock in the dow at 7.82%

It's a morning hourly filled black bar.

Undervalued C/P Long Opening Index PUT THREE Times Calls = DOWN
Extreme Greed 93 = Down
Market Overbought

Bias is up but I don't expect it to go far so I'll treat it as a range day no matter what meaning avoid trade unless absolutely sure.

Banks are not cooperating

People who are not currently appreciating this rally leg:
Banks
AD
1/VIX
1/VXN
(AD and the options traders are trying to bull, but not trying hard enough…. yet...

What's new and just hit the wire. GAAP on SPX is giving the first warning sign, how deep the correction from here will be is depend on employment number, last two times in 2012 and 2015 good employment and QE held up the economy from crashing, well, will this time be the same. for FA crew, EMPLOYMENT and FED are the key, for TA crew, sell first ask question later.

Merry Christmas.

Just to let you know I'm still awake. Double bottom, at least the range low was in, if lucky there might be more such as new day high, let's see.

Well, guess that's it for today. Here's what Tuesday looks like: https://stockcharts.com/public/1684859/ ... /533449374

Thank you guys, I'll see you in another thread soon.

Before the close, please take a little time to vote for me, thanks: https://stockcharts.com/public/1684859/ ... /533449374

Black Bar plus Green Market and Green VIX = DOWN