Cobra's Market View

Eddie wrote:Hope you are right BB52. I've made a couple of poor decisions already today. Didn't obey my setup. Thought I was smarter than the market.

Risk/Reward favored bulls right now.

SPX still weak.. VIX 15m still bull flag.. and 200d 2083ish would seem like a likely target.. but maybe too obvious.

Downward momentum of Bullish Percentages is not impressive today, but no sign of a turnaround. Cruising slowly south.

http://stockcharts.com/freecharts/candl ... ,$BPFINA|C|

ES can go ahead and blast higher any time now.....has my permission....

buckle up… 200d 2082.34 VIX near HOD

The whole world expecting a dead cat bounce, captain obvious, majority will lose normally.

London is on winter time, so they stay open for another 50 minutes. Traditionally the slow upward drift happens after european close and before the NYMEX close. So far I have a volume profile for today saying ES 2094.75 is the central point. Yesterday's VWAP is above the pivot zone (barely) at 2097.25 and of course yesterday's close at 2092.50. So a nice tight little 5 point range.

My big hope is that on extended hours hourly chart we are at the 161.8% time fib on the recent selloff so maybe something will happen before I fall asleep in my chair.

Yeah, not much bounce in that cat.

love a max fear situation down round sp2070ish - election time...big clinton bounce or trump contested election trounce to the markets? oversold conditions and technicals favoring clinton bounce but....contested election (popular vs electoral discrepancy) a decent possible that would really trouble markets. bulls in the game until sp 2026 imo....but a good test of 2070 would REALLY spook markets and provide juice for a nice bounce with a clinton win... .

IWM 200d @ 114.34 on / at support .. kinda…

/ES 92

And once again the notorious oil price year over year comparo this time from Credit Swiss who has decided to pile on after the fact.

I mock Credit Swiss because the sell point was last week.

sell is what the trader do.

SPX possible minor bullish falling wedge if SPX makes a slightly lower low and bounces.. but /ES overnight lows 2084.25 .. may under cut it to blow out the stops.. or.. higher low.. and invs H&S on the 60m.. fwiw.. mind 200d SMA /ES at 2076.25

Is yesterday's low toooo obvious?

87 /es is next fighting ground.

SPX come to papa 200d ..need VIX to crack above Tues HOD

got my 87, wait for new sell.