Cobra's Market View

this is SHORT
LEVERAGED SHORT
5min

Because the drop was probably caused by news reading algos feeding on each other then the trading rule is that the auction will return to the scene of the crime. I think that is around ES 2877. That is assuming human traders decide the news doesn't really change anything.

lets see what the close brings...

brokebybernacke2 wrote:lets see what the close brings...

The close brings the weekend, naturally

Lets see who wants to HOLD their positions through the weekend ...

The new NIKE commercial
https://www.youtube.com/watch?v=Fq2CvmgoO7I

Oil should firm up as Iraq goes into civil war as the Sunni Shia conflict spreads across the entire region. Gasprom says pipeline to China over 90% complete. Not a good story for coal thus Australia.

Fed already responding to jobs report. No change in plans.

Trades with cats wrote:Iraq goes into civil war as the Sunni Shia conflict spreads across the entire region.

The MIC: “Winning!”

TLT has been below its 15min 200ema for most of the time, since late August.

Another buck down on TLT over the next couple days and the pattern might suggest a serious breakdown, with 10yr rates going back to their highs in the low 3% range.

NYSE breadth right now is awful. Yet only a mere -0.2% loss so far on the day for SPY.

On days like this I remember George Carlin's routine (it's on you tube somewhere) where he talks about 'There's a big club and you aren't in it". As in Wall Street insiders club.

HAPPY HOUR

Sitting at VWAP, the Mid and EMA, inside the 60 minute opening range, inside the overnight range, inside the big megaphone. Perfect area for a neutral close.

Just a reminder that we are a week away from a triple witch. Almanac says for Monday the Russell 2000 has been down 11 of the last 18. Next week was the second worst in history for the DOW in 2001. But Friday's triple witch DOW has been up 10 of the last 15.

brokebybernacke2 wrote:risky point here in markets. FANGS tech look ugly, tech a bit worried about potus /tariffs. nice weekend news with china, market up, not nice with china, market down. daily qqq bounce back test wedge break as we speak, need to get back in soon or not so good.

closin time

well, guess that's it for today. Monday has been mixed. thank you guys, I'll see you in another thread soon.

before the close, please take a little time to vote for me, thanks. https://stockcharts.com/public/1684859/tenpp

15 days since the last major closing LOW in CME Copper futures.

Still in a downtrend channel tho.

Trades with cats wrote:Just a reminder that we are a week away from a triple witch. Almanac says for Monday the Russell 2000 has been down 11 of the last 18. Next week was the second worst in history for the DOW in 2001. But Friday's triple witch DOW has been up 10 of the last 15.

OPEX is September 21st this year.