Cobra's Market View

Thanks to Powell:

NYMO down to -65.78
NAMO down to -47.73

Cobra wrote:Revisit the previous low, now let's see if bulls can make a double bottom here. I say 51% chances.

Well dammit, that's good enough for me, getting an advance on my mom's credit card and selling the cat's kidney..

Cobra wrote:Hard to say whether this rebound means the low was in. Generally I need see a double bottom (higher low or slightly lower low).

Likely we get a round of selling to the close, money taken off the table into elections.

Cobra wrote:Looks like bulls are running out of steam, back to watch for EMA short setup again.

Likely was a bit of short covering as European market closed at 12:30 ET

Cobra wrote:This pullback of this size shouldn't happen in an uptrend day, should be a news, wait for the dust to clear first.

May be some leak/news of stimulus to airlines, transports started lower first.

NYMO down to -69.50, this is a possible setup for bullish "W" print with a target to +20/+40. Lower end can extend more, down to -80.

Chart is from last night hence the prices.

NYMO open was -78

Cobra wrote:It's a morning hourly filled black bar

Black Bars Matter...?

K447 wrote:Shift the deaths line to the left by 2 to 4 weeks to align cases with resultant mortality.

Not enough datapoints, the chart will be inaccurate.

I did look at your chart. My first thought was I would prefer to see the data as a bar chart rather than a cumulative line chart. 1) As mentioned earlier, early data has gaps 2) Wasn't sure which you meant, daily or cumulative so here you go, you got both 3) In the Daily chart, the Deaths are hard ...

US lifted lockdowns too early. People keep parading this chart around - US IS A HUGE COUNTRY WHILE EU IS A BUNCH OF SMALL COUNTRIES AND EASIER TO GOVERN CLOSURES. Chart is for New York State - compared to western states like Arizona and Texas, it had a surge in the spring, now down to non-fearmonge...

Active cases and recent deaths are the trends that matter, with new cases front running deaths. If these are trending up, then the virus spread is not decelerating. I was speaking to the time relationship between active cases and deaths. Recoveries are nice to see, but not useful for forecasting th...

Keep in mind that deaths lag behind infections by two weeks to four weeks. In effect people who die today were first reported as cases 2 to 4 weeks ago (roughly). Shift the deaths line to the left by 2 to 4 weeks to align cases with resultant mortality. Said another way, the people who have recentl...

I spent some time compiling this using WaybackMachine to get backdata. Period covered is March 6th – current (prior to that it was just China). Pre-June has gas in dates because I just wanted to get a general feel, therefore that part of the chart is smoother. I’ll fill in as my sanity permits. June...

NYMO down to -62, did I mention that earlier? Too lazy to go back and check.

Last close at -60 zone was March 23rd's market bottom.

Cobra wrote:The very first touch of EMA20 in 2+ hours, watch for ema short setup.

Never ever going up again?

Made some senses but you're referring to a good data (Ontario controlled well enough and now is about to reopen everything). Take a look at Canada, you'll see the differences. US has no control over the virus now. True, if you're young you're unlikely to die but, I don't know you, for me, I would n...

Seems nobody cares that the daily new cases of covid-19 is approaching all time high? It means all the past months of locking down were wasted. More tests, less deaths and over 54% have recovered globally, outpacing deaths at 10.50 to 1 ratio. Only media and politicians that are trying to continues...

Heck wrote:New lows bro's

Where it stops

Nobody knows

COVID19 headlines again, same old same old until it passes as all other occasions did.

Cruise lines 'voluntarily' suspend US port sailings until September 15th. Should be good to put more fear in the sheeple until other side puts out press releases next week sometime.

Good and Bad news always come in bunches.