Cobra's Market View

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Lower high (red arrow) or not, wait and see.

Inside day, anything goes....bullish bias above 61.8%

same playbook, different day.

/ES losing 7000

Drinking out of a fire hose this morning. 5 point drops on 30 second bars counts as big volatility.

VPOC 6944 /ES

This bear shall have legs.

Not there yet to call it the big top. Making the right moves to support that call. Waiting for magic Monday and Turn around Tuesday. Or better yet NVIDIA earnings call because there is supposed to be a test of the high from below. What was named as the sucker rally in the classic model.

lets see if we can bottom here at 40 ish. today

Level to watch short term.

From twitter (Julie Wade) market dropped out of the normal volatility range forcing options dealers to hedge their book. Thus the fast drop to a deep enough liquidity pool. Her volatility and options tracking models DO NOT explain who was doing the selling of underlying that overcame dealers. I am confident that the chattering class will provide a theory.

Melt down, don't catch a falling knife, they said.

Round number 6900 /ES. it's nothing 100 points among friends.

Next rest stop. market is so one sided, up/down like there's no tomorrow.

The rebound probably will be sold. Maybe around EMA20?

And there it is.

Show me the turmoil!

5000 tick is a one minute bar today. Looking like the impulse is over. If that was the top then this would be a one and we are working on the two so Apple 'could' trigger a three down for a Friday sell off. Or not.

Sky is falling. Crashing

Gold, Silver, NVDA all down, oh my god!