Cobra's Market View

Gap down below Friday's low so the gap might not be filled, not sure.

Either Global ES or the regular hour ES, now it begins to have a look of Double Top but like I said in the weekend report, it's essential for bears to decisively break below the blue line. Let's see if those dip buyers step in once again to buy this dip.

Everybody sold off overnight, Nikkei, Hang Seng. India sold off big.

Morning!

Wow it's so quiet today.

the open.

SPY at a key level now. looks kind of extended though...bears will have to find some sort of strength to make this breakdown decisive.

key support on Global ES now.

Cobra wrote:key support on Global ES now.

any bias??? for me, I am looking for BO, as I am still holding bunch of VIX futures

bbc wrote:

Cobra wrote:key support on Global ES now.

any bias??? for me, I am looking for BO, as I am still holding bunch of VIX futures

No bias, key time. this is an important support.

10 point drop overnight. i guess es need a stop. time to work on exit and wait for the next move
sup cld be around 1350-1352

Hourly T-Theory hit Friday, FWI:

Cobra wrote:

bbc wrote:

Cobra wrote:key support on Global ES now.

any bias??? for me, I am looking for BO, as I am still holding bunch of VIX futures

No bias, key time. this is an important support.

then we need 10:00 and 10:30 data to see it~

Cobra wrote:

bbc wrote:

Cobra wrote:key support on Global ES now.

any bias??? for me, I am looking for BO, as I am still holding bunch of VIX futures

No bias, key time. this is an important support.

There's some room on the VWAP today --- so perhaps we'll get some more selling. I think we'll have a bounce, actually, I am certain of one, the questions remain --- how high will the bounce go? and can we get a second leg down??

A reminder that the mkt really can't stay here when this happens. It hits or misses. If it misses we march higher. If not, a significant top will be anywhere from last week to the next 2 weeks under T-Theory (see Terry Laundy).

stucap wrote:

Cobra wrote:

bbc wrote:

Cobra wrote:key support on Global ES now.

any bias??? for me, I am looking for BO, as I am still holding bunch of VIX futures

No bias, key time. this is an important support.

There's some room on the VWAP today --- so perhaps we'll get some more selling. I think we'll have a bounce, actually, I am certain of one, the questions remain --- how high will the bounce go? and can we get a second leg down??

hamstrings out early today... can they punt it higher? or just keep it bobbling about!

SWalsh wrote:A reminder that the mkt really can't stay here when this happens. It hits or misses. If it misses we march higher. If not, a significant top will be anywhere from last week to the next 2 weeks under T-Theory (see Terry Laundy).

Bears are missing the boat again......Sellers need to show up ASAP or we'll be green............

Your tax dollars at work:

I'm back in UNG @ 21.19, 40 shares only

rebound exactly from the support, but still cannot say bears failed, so let's wait.

Got my poison $136.19

Cobra wrote:the open.

Cobra, any odds on closing the opening gap? I have multiple things that say gravity "might" take hold. One was being flat %^$#