Cobra's Market View

Up 3 weeks in a row, 80% chances higher high ahead the next week, so bulls should be fine holding positions over the weekend.

[Bloomberg]
Somebody shook up options screens Thursday morning with a wager that the VIX Index will rise toward 40 -- and won’t be lower than 25 -- in July, up from about the 17 level where the volatility gauge currently trades. The trader appears to have made several block trades, buying a total of about 200,000 call contracts. That’s almost as big as the total daily volume of VIX calls, based on the 20-day average...
… The trade sent volumes soaring and helped make call options on the Cboe VIX Index about four times more active than puts earlier in the day, a level that was last seen in late August 2020. All told, about 1 million in combined VIX options traded on U.S. exchanges as of 2:25 p.m. in New York, the most since mid-February. That as the gauge of projected 30-day price swings in U.S. equities, derived from out-of-the-money options, hovered at 16.9.
The trader likely made the purchase through several tranches, first buying 100,000 contracts in two block trades, then coming back for 100,000 more. They paid $3.40 for calls at 25 and received $1.30 for selling 40 calls.

day traders please read this:
https://www.sentimentrader.com/blog/thi ... st-friend/

Boss, very interesting about days of the week! Have you anything which gives a approximately percent average for each day of the week? That would be interesting to know and keep track of. Thanks!

I've had this for a good while, but it seems close for the days of the month.

28th to 6th Bullish
7th to the 10th Bearish
11th to the 18th Bullish
19th to the 27th Bearish.

$AAII Bull - $AAII Bear shows retailers are now too bullish.

SPY daily. PnF.

Al Brooks: It's climatic so pullback is due, 50% chances of 10% pullback and it may take many months before another all time new high.

Bull market, Monthly, weekly, daily, Hourly, suggests grand ma, grand pa, son, daughter, and grand kids are all on board the bull train. it's full train with no vacancy.

Counter trend is the game for me, bulls watch the door on the way out

QQQ
There’s a potential double top on the QQQ daily. It also happens to be the neckline of an inverse H&S (ditto semis, SMH).
It wants to breakout but VOLUME is weak. Can Q breakout when volume is that weak? In September, October and March, the low volume was followed by roughly 10+ days of pullbacks. 5ma VOLUME is still barely above the zero line, so it’s on the “cusp”...

NOT SHOWN:
QQQ’s momentum is overbought
The internet, XLC, brokeout already and is backtesting the breakout
At the moment, the $NYFANGS are being too influenced by BIDU, BABA, and TSLA, and it's lagging

te_fern wrote:Boss, very interesting about days of the week! Have you anything which gives a approximately percent average for each day of the week? That would be interesting to know and keep track of. Thanks!

this is old but may help
https://www.investopedia.com/day-tradin ... ur%20short.

"Everyone understands that the market is discounting mechanism. =>What they don’t realize is that the discounting mechanism is not price, it’s participation. It’s not that the price has gone from 50 to 100 and therefore the bullish fundamentals are discounted. Instead, it’s everyone is long, and consequently bullish fundamentals are discounted. Amazon provides a great example. When it reached $7-800 level, everyone thought the price was ridiculous. There was a lot of talk about AMZN being a bubble. It was clear though that the majority of people didn’t own it, or they wouldn’t be calling it a bubble." – Jason Shapiro trader; as stated in the Unknown Market Wizards by Jack Schwager

Powell is on "60 Minutes" tonight