Cobra's Market View

1) TLT gapped and broke out in favor of long treasuries (short yield)
2) corporates too
3) but they still don’t want junk
in the old days, we’d call this a “risk-off” profile
daily

FERN:
i saw that
thanks for posting HYG

SHORT
It is my fervent hope that TZA (short) will get a third leg up
5min

thing is
most of the month defensives have been bid up
YES defensives, higher lows
60m

Cash SPX 5 DMA is moving up to catch the drop and help support, I don't see bears can be any luckier for lower than that if any.

Al_Dente wrote:FERN:
i saw that
thanks for posting HYG

Been trading FNGU, lost big on the 10:00 drop due to stop loss, then have slowly grinded back to even. Need to stop before another quick drop!! LOL!

Note IPO
RENT
https://news.crunchbase.com/news/rent-t ... c-rebound/

inside day, failed break down, should test higher level 61.8% or even go all the way to the high, what a mess. I am checking out, Peace!

Testing day high, probably is the range high. Let's see.

Noticed that TRIN has been elevated recently, has been on a steady rise all day. Suspect we see a breakdown (if it's going to happen) in the am.

Widest red bar plus volume surge and breakdown so should be a rebound here first then we'll see.

Well, guess that's it for today. Here's what Thursday tomorrow looks like: https://stockcharts.com/public/1684859/ ... /533449387

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/ ... /533449387