Cobra's Market View

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I see a consolidation range which usually means continuation so bias is up.

Gap down but within the yesterday's range so probably just a range day.

SPY 15. Chop. Chop. Chop. Spikes. Direction changes. Lots of pushing and pulling by the bulls and the bears.

Sell day, Honey hole special.

SPY 1. The market wants to go up. But it is not easy going.

Daily %B >1, out side of BB. it always come back inside the band. always......

AAPL moving up. SPY moving down.

JPM's Jamie Dimon, in his annual shareholder letter, sees strong growth for the world’s biggest economy in the near term, thanks to the U.S. government’s response to the coronavirus pandemic that has left many consumers flush with savings.
While Dimon called stock market valuations “quite high,” he said a multiyear boom may justify current levels because markets are pricing in economic growth and excess savings that make their way into equities.
While he is bullish for the economy’s immediate future, he sees serious challenges for the U.S., thanks to political and societal dysfunction. [CNBC]

SPY 1. Trying to move up. Taking a break ...

SPY 5. Choppy action. Spikes. Dojis with long shadows. Back later ...

Selling off for euro zone close. Need more shorts to squeeze if this thing is going to make a new high .

Watch MACD histogram, the consolidation phase is starting if we have a bearish reversal candle today. the consolidation in time or in price remain to be seen.......

Bottom panel: Last week call buyers were wrong for a spell, they eased up on calls while the SPX was advancing (green box, red box), and they had to flip quickly … since then they are back to buying calls
And now it’s the INDU that lags
15 min

Last 24 hours market bounced on 4064 four times, and fell through once, before the US cash open this morning. Outside of my background to estimate what happens on the next touch. But this is a very important level.

Waiting to see if we get a similar pattern to the 8 AM bounce.

Trades w 2 Cats wrote:Last 24 hours market bounced on 4064 four times, and fell through once, before the US cash open this morning. Outside of my background to estimate what happens on the next touch. But this is a very important level.

Boss: that level coincides with my "Sell/Stop Loss" level on the BEARISH THREE GAP UPS pattern that i posted this weekend (or monday?)

A view from the short side
SHORTS

Same scale, Q shorts
SHORTS

Buy Lo sell Hi, the buy Lo can not fail here, if so it will be fast drop. I bet on it that it will