Cobra's Market View

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probably the current support won't hold, the next support is the long blue line below. overall, it's just a pullback, doesn't look like the end of the world.

members only update starts here: http://www.cobrasmarketview.com/2016/11 ... ay-update/

SPX as per yesterday… SPX <2200 looking for previous highs retest 2193ish.. mind the morning gap, and yesterday's higher open gap.

/ES PIVOT 2198.

start the day on a northbound train today. let see.

SPX mind the VIX invs sloppy H&S she breaks 13.50.. a whole lot of pain coming index wise

bulls got no juice today, out and wait for sell setup.

Positive D. but I am not buying this one.

NY declining stocks = 1.2 x advancing stocks
NY declining volume = 2 x advancing volume

Need to see oil deal Wed to see stock direction

Levered sectors performance so far this morning.

fehro wrote:SPX as per yesterday… SPX <2200 looking for previous highs retest 2193ish.. mind the morning gap, and yesterday's higher open gap.

SPX 1st hourly not pretty… but VIX stalls at resistance.. as SPX holds 2200 level.

AAPL 15m.. bad cop.. as FB good cop green an near HOD trying to hold NDX up with bios

GM,
BP are down today (BPINDU and BPENERGY down big). Maybe a consolidation is in the card.
http://stockcharts.com/freecharts/candl ... BPENER|C|0 (credit master : uempel)
To keep in mind :
Wedneday : OPEC meeting
Friday : NFPs
Week-end : important vote in Italy (MIB is down 20% YTD and italian banks nearly 50%).

maybe the low was in.

Liquidity fell a hair yesterday but let see what happens.

It looks like the mkt could be turning dn for a bit. Lets see

Dana Lyons warns of a divergence: “the lack… of a new high in the NYSE Advance-Decline Line.”
http://jlfmi.tumblr.com/post/1538055270 ... a-big-deal

However if you use !ADLINENYC which is the AD line for all NYSE COMMON STOCKS ONLY, there is confirmation, not divergence.
!ADLINENYC eliminates the preferred stocks and bond-related ETFs and other issues on the NYSE that are not common stocks, and may offer a better picture of the AD.

ES 2202.50 is my line in the sand; Above, bulls are back, again !

Al_Dente wrote:NY declining stocks = 1.2 x advancing stocks
NY declining volume = 2 x advancing volume

NY declining stocks = 0.82 x advancing stocks
NY declining volume = 1.12 x advancing volume
Bear advantage disappeared… for now...