Cobra's Market View

Denali92 wrote:....MID and RUT may show more pronounced strength or weakness depending on crude

Intraday, both MDY and IWM now gap fill...

Boom !!!

pullback indeed was bought. It might still have legs.

uempel wrote:A correction is in the cards in the next few days. Problem is that bold statements like this tend to be wrong

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Update

The market provides something for everybody.
If you are a bull, seasonality for April is quite bullish.
If you are a bear, in election years, seasonality appears to be closer to a coin flip (up 14/ down 15).
The composite of election years suggests a propensity to high early in the month.
So, it is probably a good month to try and avoid confirmation bias...

I have no idea what will happen. Not a clue. My usual condition.

QQQ penny away from wednesday high. if SPX would run higher till the end of day, then long term trend might have changed.

as for intraday, i have no clues what has happened from intermarket point of view. USD has reversed from morning high, crude big down, TLT big U

2072 in the next hour

QQQ indeed new high as speculated.

68 the key failure not allowed

josephli wrote:as for intraday, i have no clues what has happened from intermarket point of view...

Sometimes the correlation charts must trend negative, no?

SPX outside reversal on the daily.. lower lows, higher highs.. 2063-5 is the line.. breaks to the downside.. bull head fake.. Internals weak.

MrMiyagi wrote:

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Save the effort and ignore the down pBars!

Junior Buffett wrote:

MrMiyagi wrote:

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Save the effort and ignore the down pBars!

Loose faith in p-bars nowadays

Let shop more stocks everyone is histeric

wanteasymoney wrote:Let shop more stocks everyone is histeric

I am putting humble request to change your profile pic...it is creepy...

...

I have NEW found respect for the power of seasonality and April 1st!

Since 2007, there have only been 2 Gap downs on employment day of greater than 10 pts that closed in the GREEN.

2-Oct-15 - Major bottom on the Tuesday before - opened down 24 closed up 29
5-Dec-08 - Major bottom that day and a 100pt rally ended on the Monday after employment

Also, on the Monday after employment last year - the market opened down 11 and closed +14.

Definitely would never have expected this move today based on the historical data since 2007!

April 1st and seasonality are impressive!

-D