Cobra's Market View

Anyone know what this was caused by? Every time I take a long position it is the kiss of death!

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

Nice move down, so today we can see close below 3900 on spx, would be great weekend gift for the bulls and will let them think about fighting with FED.

From yesterday FED QT takes 60 billions from market, not only 30 billions like in the past 3 months we should see new LL in next 15 days

Pisani CNBC
no real news
VERY very light volume

Rally failed on the 25th
Rally failed today... that blindsided me....
now we go down to re-test that double bottom

Gas pipelines to Europe have been compromised - that's the news I heard

jademann wrote:Anyone know what this was caused by? Every time I take a long position it is the kiss of death!

Mr. Putin. All Gazprom Nat Gas to Europe are off line because of a "previously undetected leak in the pipeline" according to Zerohedge. So this means the European economy is shutting down big time.

Also we are giving the Israeli Air Force 4 tanker planes that they need in order to bomb Iran's nuclear capability back into the stone age. So fat chance of a settlement, it is clearing not happing. Iran Navy grabbing US Navy drones so both sides pressuring the negotiators with military threats.

So no reversal on energy which is causing europe to move into a 1930's environment on top of a jobs report that did not stop the Fed.

You could also say it could be the big boys moved too much merch to the retail crowd and the auction went bust.

ONE WEEK heat map
this is early as we aren't closed yet

Trades w 2 Cats wrote:

jademann wrote:Anyone know what this was caused by? Every time I take a long position it is the kiss of death!

Mr. Putin. All Gazprom Nat Gas to Europe are off line because of a "previously undetected leak in the pipeline" according to Zerohedge. So this means the European economy is shutting down big time.

Also we are giving the Israeli Air Force 4 tanker planes that they need in order to bomb Iran's nuclear capability back into the stone age. So fat chance of a settlement, it is clearing not happing. Iran Navy grabbing US Navy drones so both sides pressuring the negotiators with military threats.

So no reversal on energy which is causing europe to move into a 1930's environment on top of a jobs report that did not stop the Fed.

You could also say it could be the big boys moved too much merch to the retail crowd and the auction went bust.

Guys you know we are in the bear market ? For now bull is dead and all rebound will be sold , easy money is gone for now We are repeating 2000-2003 just much faster

ES 5 minutes. Finding support at S1, 3925.

Not a bear. According to Jeromy Grantham's newsletter quoted by Zero Hedge last weekend, it is the 4th super bear. !st was the great depression. He shows on the charts that this is not a garden variety recession. Bill Bane's morning porridge letter a couple of days ago his theme was the wreck of the Edmund Fitzgerald. His, at least to me, biggest insight was that half the pro's working in Finance have not experienced a market without a Fed Put. I interpret that as meaning they will keep buying the dip until they are carried out in a body bag.

Having said all that anybody who was short overnight had their face ripped off today. Brings back the terrifying emotions of 2007 2008 with the wild daily range moves.

Trades w 2 Cats wrote:

jademann wrote:Anyone know what this was caused by? Every time I take a long position it is the kiss of death!

Mr. Putin. All Gazprom Nat Gas to Europe are off line because of a "previously undetected leak in the pipeline" according to Zerohedge. So this means the European economy is shutting down big time.

Also we are giving the Israeli Air Force 4 tanker planes that they need in order to bomb Iran's nuclear capability back into the stone age. So fat chance of a settlement, it is clearing not happing. Iran Navy grabbing US Navy drones so both sides pressuring the negotiators with military threats.

So no reversal on energy which is causing europe to move into a 1930's environment on top of a jobs report that did not stop the Fed.

You could also say it could be the big boys moved too much merch to the retail crowd and the auction went bust.

Glad to know it wasnt my fault~! Today was rather expensive.

First test of EMA20 in 2+ hours, could attract some sellers.

Sellers are exhausted for now....volume to the downside is waning.

There's good support below current price so volume needs to pick up for a big move down to bust through. I would imagine that most folks expected this move down today because of the holiday weekend. I expected it so I guess most folks are getting ready to barbeque like me.

At least two here didn't expect the selloff, myself included. Cobra was looking for a Possible breakout earlier also.
After a loss like todays I usually take a week off

SPY 5 minutes. Price action.

Down. Down. Down some more.

Have a good weekend, Everyone.

Well, guess that's it for today. Here's what Tuesday looks like: https://stockcharts.com/public/1684859/ ... /533449374

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/ ... /533449374