Cobra's Market View

Cobra would say, a breakout is most likely and new HH will be an up trend day

Lets go lazy bulls.

ES 5. Turning into a wild ride. Sharp breakout. Sharp pullback. Bounce back up.

These sharp up moves are fueled by short covering, need to attract more selling.

watch TRIN, if <1 by the closed it will confirm the short term bottom. until then this buy is still a questionable.

Bull flag, I am not all that greedy.

BullBear52x wrote:...a breakout is most likely..

The first brave sector to break its OR-30 high is Latin America! Huzzah! Followed by EEM.

INTERNALS bull atm, need a HOD here please
5m

As requested: QQQ, XLI hod!

Break above day high with strong bull bar in the next couple of bars then it could be an uptrend day. But since it'll be within yesterday's range I'll treat it as a range day no matter what.

Percent of stocks above 20ma and 50ma
In the bottom zone
The usual caveat: they could go lower (for example: they hit zero in the December 2019 bottom)
EOD

ES 5. All the way back up to the pivot.

WATCH THE VIX at the CLOSE:
The famous VIX signal may be triggered at the close (outside the bb then closes back inside the bb = buy-spy signal. It used to have an 80% success rate, but I don’t know what the odds are today.)

ES 5. Reprieve for bulls late to the party last time at the top. Beware the traps.

ES 5. Testing above the pivot. "Hey, Buddy, I've got some stock going to the moon."

Just found out that stockcharts has 10 minutes delay it's not realtime data. Normally, it has maybe 15 seconds delay but today is way over!

Honey hole buy outside band is still kicking and well. Another success.

This is what stockcharts should be displaying now:

Risk reversal closed out from yesterday. Letting some of the calls run/open but house money at this point. Tight stops.

This is what I go with now.

ES 5. A few hopeful souls bought at the top this time around. But not enough for lift off. The brave ones have shorter life expectancy. But they also get some big rewards. Back down beneath the pivot.

Disclosure: I was given a reprieve. LOL Just watching right now. OK, maybe do some scalps, within the range.