Cobra's Market View

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Not sure whether it's a lower high therefore the rebound was over or not.

Flat open, likely just a range day.

last two days, trading range was lower but it was nothingness. flat sideways overall. leaning bearish but price doesn't say much. let see if bulls can retake the upper trading range or continue. be nimble note to self.

ES, range bound 4142-4190 selling for now.

right off the gate. if sell off is not strong I would expect a late day rally. lets go bears!

ding ding 41.42 sitting out with 1/2 lot left. coffee time.

MA resistance will determine if there will be a storm or not.

It's the bear's last chance here to make a downtrend day. My guess is it's just a range day.

Last sell, same playbook.

Fearful market.

bears got an easy day today Haha

who could have thought it will be this easy for them?

Higher low, the low might be in for today.

Yep, Range day, take a break here will be a buy at MA support, but me no buy today.

must be news, haha....selling 2x top setup, do or die for bears.

This dip will be bought, I don't expect much for bears, just play by the book that's all, no buy today, maybe tomorrow but not today for me.

Options traders are buying JUST A FEW calls
AD is still 1-to-1 (50/50) and could go either way

The pullback probably will be bought. 10% chances it was a vacuum up therefore the pullback now will go all the way back to the day low.

zh headline: "Here Comes The Squeeze: Goldman Prime Says Hedge Funds Shorted Tech For 9 Of The Past 10 Days”
GS: the bulk of this selling was short selling, i.e., the flows were "driven by short sales outpacing long buys 2 to 1.
GS: Goldman notes that managers are the most U/W [underweight] Tech Hardware (-5.6%) followed by Semis & Semi Equip (-2.4%) while still O/W [overweight] Software & Services (+4.8%).

If TECH indeed squeezes (in the next day/few days) I’m wondering where the shorts will be stopped out [where they will start buying to cover]
and I’m guessing at 102 on the TQQQ’s
[All the pros that are short tech have just read that zh headline and text, and are preparing to cover if they need to]
[Anyone with better analysis, please post]