Cobra's Market View

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maybe fib 61.8% mm to 1913?

members only update starts here: http://www.cobrasmarketview.com/2016/01 ... ay-update/

ON back test of broken TL on ES. Synchronous low on CL at 3:30 am EST. It's an oil driven market.

SPX mind yesterday's neckline on the 5m 1890 resistance, yesterday's HOD *1906, then 1919-1920ish gap. Could pause at the open. Mind Fri's gap still open 1877-70ish

SPX

GM

Any to reopen shorts to gap close ?

the internal flipped over fast. most likely another range day.

SPX testing neckline.. mind the morning gap 1877-78.79

was rather surprise overnight wild swing on USDJPY. the rebound is spectacular.

/GC gold strong this AM 200d 1134 50w 1142

daily SPY:

any rise is gonna give us the bullish MACD cross. MACD is rapidly closing now. could happen today if we get a good rally.

QQQ turn red. bull needs to push past 189 to confirm trend. look difficult given qqq lags. otherwise will close the morning gap and friday gap.

NDX, FB, AAPL all red and ugly

fehro wrote:NDX, FB, AAPL all red and ugly

AAPL ER after market close. could potentially trigger a big up tomorrow.

8:50 AM 1/26/2016
OVERNIGHT MARKETS AND NEWS

March E-mini S&Ps (ESH16 +0.35%) are up +0.28% and European stocks are up +0.11% as they mirror movements in oil prices which are up +0.86%. Global stocks were under pressure from Chinese economic concerns after China's Shanghai Composite plunged -6.42% to a 13-1/2 month low. On the positive side, mining stocks rose as the price of gold (GCG16 +0.69%) climbed +0.59% to a 2-1/2 month high and copper prices (HGH16 +1.53%) rose +1.33% to a 2-week high. Signs of stronger Chinese demand is giving metals prices a boost after Chinese customs data showed China Dec imports of refined copper surged +34% y/y to 423,000 MT and China Dec gold imports from Hong Kong surged +67% from Nov to 111.3 MT. European stocks also gained as Siemens AG rose after it boosted its earnings forecast and Royal Philips NV jumped over 5% after it reported better-than-expected Q4 profit. Asian stocks settled lower: Japan -2.35%, Hong Kong -2.45%, China -6.42%, Taiwan -0.83%, Australia and India closed for holiday, Singapore -1.43%, South Korea
-1.31%.

The dollar index (DXY00 +0.02%) is up +0.09%. EUR/USD (^EURUSD) is down -0.21%. USD/JPY (^USDJPY) is up +0.12%.

Mar T-note prices (ZNH16 +0.11%) are up +5 ticks on the heels of a rally in German bunds as the 10-year bund yield fell to a 4-3/4 month low of 0.432%.

The PBOC added 440 billion yuan ($67 billion) into the financial system via reverse-repurchase agreements, the most in 3 years, as it tries to keep borrowing costs down and boost liquidity ahead of the Chinese Lunar New Year holiday that begins Feb 8.
------------
Stocks open higher, led by energy sector as oil price rises
By YURI KAGEYAMA - AP - 6 mins ago
NEW YORK (AP) — Higher oil prices and some positive earnings news from U.S. companies are helping to send the stock market higher in early trading.

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Home prices are solid, up 0.5 percent in November according to FHFA data where the year-on-year rate is plus 5.9 percent. The Mountain states, at plus 10.0 percent, lead FHFA's year-on-year data followed by the Pacific at 8.6 percent and the South Atlantic, at 7.0 percent. The Middle Atlantic, at plus 2.6

percent, is the weakest of the nine regions in this report. The nearly 6 percent year-on-year rate in this report, and similar strength in Case-Shiller data that were also released this morning, isn't gangbusters but it is solid and, in an economy fighting deflationary trends, is a favorable source of price traction.

Purchasing Managers' Index (PMI) US Services Flash is based on monthly questionnaire surveys collected from over 400 U.S. companies which provide a leading indication of what is happening in the private sector services economy. It gives an early reading of conditions for the current month. 53.7 vs 53.7 exp

S&P Case-Shiller HPI
Released On 1/26/2016 9:00:00 AM For Nov, 2015
Consensus Range Actual
20-city, SA - M/M 0.4 % to 1.1 % 0.9 %

Highlights: Home-price appreciation may not be booming but it is solid, perhaps the most solid source of increase for household wealth. Case-Shiller's 20-city adjusted index rose a very strong 0.9 percent in November following impressive gains of 0.8 percent (revised) and 0.6 percent in the prior two months.

Breadth is very convincing with all 20 cities showing monthly gains for a third month in a row with half posting gains of 1 percent or more in the latest month. Year-on-year, sales came in at plus 5.8 percent for a 3 tenths gain in the month. Leading the way is Portland at a year-on-year gain of 11.1 percent followed by San Francisco, at 11.0 percent, and Denver at 10.9 percent. Chicago, at 2.0 percent, and Washington DC, at 2.1 percent, bring up the rear. FHFA data, also posted this morning, show similar strength and confirm that home prices, which are getting a boost from lack of available homes on the market, are one of the few areas of the economy showing price traction.

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morning hourly black bar

josephli wrote:

fehro wrote:NDX, FB, AAPL all red and ugly

AAPL ER after market close. could potentially trigger a big up tomorrow.

or bigger down

Update. Note that these ellipses show a time signal for noon today.