Cobra's Market View

it will be a sleepy day to move aback to sell the rip today, I am going for a walk, be right BAAAK.

This thing doesn't look like it wants to turn around.

vol surge, might be a rebound here first which likely would be sold later.

for now this chart pattern is in play. later....Peace!

almost there 200d 2082.30

/CL just $1.00 more.. come to papa 200d SMA as well 43.41

Cycle on the SPX 120 min suggests we can wait a few days before we start playing the long side

I paid some tuition and learned some lessons today.

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

Mind a "flash crash" to the 200d 2083 into lunch closing... then a serious bounce to hammer the daily.. for the capitulation move. buckle up.

something tells me watch out for 2x bottom I see some bullishness in my chart, counter trend is boiling up again, I will buy >89 on /ES. for now do nothing.

On the RTH five minue I have S2 around ES 83.50if yesterday's low/S1 doesn't hold.

News consensus seems to be that election outcome and interest rates are the real concern.
US election being over makes Dec FOMC rate hike a done deal with wall street consensus at over 80%. No wonder the junk bonds are having some troubles with rate hike into slowing economy.
B of E is done cutting and now we have to go through the soap opera of Parliament approving BREXIT or telling the voters they were misguided.
PBoC tightening up on capital outflows.
BoJ standing pat.
ECB admitting they will taper in the spring with none of the sovereign debt issues (Italy and Greece for starters) resolved.

Pretty big wall of worry for market to climb.

bias is down.

Bulls on your knees
lets do this

I am on a bull wagon now.

get your ticket now before the train leave the station choo choo all aboard......

kissing 92 is no brainer from here.

SPX still weak.. VIX resistance near

the bear market will start for sure the way bulls are acting today.

ES 91 92 area looks tasty. Yesterday's close, VWAP, weekly S2 support and very little trading today above 89.50 so a good set up for one of Cobra's vacuum moves. Now if only the market would cooperate.

Looks like market need more fire powder to start, not much of selling to trap bear to get it going? hmmmm