Cobra's Market View

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For now it's a triangle so breakout on the upside 51% of the time. It also could be a lower high trend reversal (aka double top) though.

Members only update starts here: http://www.cobrasmarketview.com/2020/06 ... ay-update/

Inside day, it will be really good day or super boring, sell day for me so sell it is....

One good MA support for bulls.

Amateurs Buying Equity Options = DOWN
ISEE Index Long Opening Undervalued PUTS > Calls = DOWN
$TRIN > 1 = DOWN

DIA SELLING < 264.70
QQQ SELLING < 245.50 edit
SP.1 Sep Fut SELLING < 3147
$SPX SELLING < 3,137.82 edit
SPY SELLING < 314.11

red close ?

Likely a boring range day, take time to relax.

If bears can have it today, the next 3 days will be a cake walk for them.

Lets go lazy bears.

Bulls think there is good field to run around. look at commodities also

The NYMO cycle appears to be up after a brief trip down an elevator shaft.
We hit an extreme high last week in the turn zone, plunged for three days and resumed climbing in positive territory.
Candidly, this looks more like corrective up action in an unfinished down cycle than an up cycle, but we mark the chart to the parameters of the model.

Price is forming an inside day inside a gap sandwich.
Perhaps an inside day break will tell which gap (up or down) will get closed first.

The downdraft counts as a test of both the 200 MA and the middle keltner band.
Closes above the June 8 high would constitute a pass and suggest a new bull market.
Closes below Monday's low would constitute a fail and suggest a possible test of the March low.
Stay tuned.

I have described last year in many posts as a gap year given the many overnight gaps that occurred.
This year may be turning out equally gappy but with a big difference.
Last year's gaps appear to be comparatively small compared to the whoppers we are seeing this year.
As I viewed all the gaps last year as something unhealthy in market function, I have to view the larger gaps as symptomatic of whatever the issue is getting worse.

I am flat and have not been participating in this market lately.
I have had some setups tee up, but the market has reversed before they trigger.

Fearful market, MM assignment is to trap as many bulls as possible, very calm don't you feel?

Liquidity is drying up, Robinhood bulls will not survive this without government intervention.

I see a triangle here, no direction.

HTZ Trading Halted

Aggressive buying of FB calls
[Najarian]

Heck wrote:HTZ Trading Halted

whoever buying it they think after BK filling they will get a car?

Powell takes questions now

First intraday sell the rip.