Cobra's Market View

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The pullback overnight was strong so probably more down.

SPY 15. Heavy volume at the close of yesterday's day session. And then a strong move down from overnight and this morning.

WTF Nomura explains German PPI and OPEX today
https://www.zerohedge.com/markets/nomur ... avity-opex

The SHORT view

Start like a downtrend day, now is key time, should breakdown if indeed is downtrend day. Personally I don't expect today to reverse up again otherwise it'd be way too cliche.

5min
1/vix is testing the neckline
Two targets on SPX, both will be void if SPX breaks above the downward sloping red-dashed line

One "perfect" indicator says "the low is already in"
Another "perfect" indicator suggests that another pullback is likely
One of the two will see their perfect predictive track record crushed
https://www.zerohedge.com/markets/one-m ... s-they-are

Bears are just trying to bulk up for the winter

Consolidation, breakdown is more likely which if indeed and with good looking bear bar then it'd be a downtrend day.

Cletus was right…again

the eleven sectors, daily, with default 20/50 ma

I'm watching potential double bottom. Before a decisive new low, anytime two consecutive strong bull bars then it could mean double bottom.

Awesome Bear pic Al Dente! They clawed me up this AM, ouch!

I'm looking for some rebounding today. So far looks weak. Let's get to 427 SPY guys. Going to need some power!

For 2 times (green arrow) the market told us the low was in. I'm not very sure though because so far the rebound is zigzag which is weak, maybe it's just a range (meaning the low will be revisited?).

theRASPYone wrote:Awesome Bear pic Al Dente! They clawed me up this AM, ouch!
I'm looking for some rebounding today. So far looks weak. Let's get to 427 SPY guys. Going to need some power!

some potential for swift down moves next few days be ready

Revisit the day low indeed, now the same rule: Anytime before a decisive new low, 2 consecutive strong bull bars could mean double bottom, watch.

My guess is breakdown in stead of a double bottom, let's see.