Cobra's Market View

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double bottom, so maybe the pullback was over?

members only update starts here: http://www.cobrasmarketview.com/2017/04 ... ay-update/

morning hourly black bar.

maybe a test of 50 ma before another thrust up? poor gdp and gov shutdown stokers on deck..

Tick has gone below the MA line....

Why should the market do anything today? Atlanta Fed GDP NOW at 0.2% growth, and JPMorgan agrees, dropping their model to 0.3. So tomorrow we here from some government agency but how much of a whitewash can they give, after all those numbers aren't from some twitter blogger. To make it worse the Tax Plan is DOA, which could mean no repatriation of foreign funds. The market needs a cheap source of money for buybacks to continue the financial engineering that has been responsible for 80% plus of the earnings growth since 2009. With the Fed bound and determined to commit economic Seppuku the only thing that can save the market is record level buybacks. Tim Cook steps up on Tuesday and he can turn this around or pound in another coffin nail, it all depends on how many more billions he is willing to borrow.

Let's not forget our favorite 28 year old Ivy League history majors who are long the dollar, long oil and short the 10 year treasury. If this oil thing gets much worse they could be getting margin calls soon.

Maybe the S&P will take us low enough to provide some new buying opportunities!!

The drop was Putin commenting on the Korean situation.

Trades with cats wrote:The drop was Putin commenting on the Korean situation.

waiting for 2380 to break b4 even contemplating a buy st.

Checking in on this SPX daily showing all the action since November 2016:

NOT INTRADAY:
Top panel: orange is the cumulative nyse TICK
Gray is the cumulative nasdaq TICKQ
Both with 34/89 MAs
(ignore the stuff behind that)
I usually don’t trust the TICKQ because it measures all the cum ticks on the nasdaq but only 5 nas stocks are key these days. My bad, because the nas cum tickq has actually been more “true to price” than the NY tick over the last 20 days. Go figure. Both get a bit hinky.
Bottom panel: JUICE percentages, just for reference
5 min 20 days

Al_Dente, you are so damn creative

The way in which you apply your A) TA knowledge with B) stockcharts' visual means is outstanding. Honestly, what you are doing is quite remarkable. I hope you are aware that you are super

Al_Dente wrote:NOT INTRADAY:
Top panel: orange is the cumulative nyse TICK
Gray is the cumulative nasdaq TICKQ
Both with 34/89 MAs
(ignore the stuff behind that)
I usually don’t trust the TICKQ because it measures all the cum ticks on the nasdaq but only 5 nas stocks are key these days. My bad, because the nas cum tickq has actually been more “true to price” than the NY tick over the last 20 days. Go figure. Both get a bit hinky.
Bottom panel: JUICE percentages, just for reference
5 min 20 days

427tick tickq.png.png

uempel wrote:Al_Dente, you are so ...........

Thanks boss
https://www.youtube.com/watch?v=6jLCDlHsVk4

ps: Credit where credit due: some of the background stuff was BorrowStolen from Kneupper, but I tweaked it quite a bit, so he’s not responsible for my view.
https://stockcharts.com/public/3828047/ ... /217834305;

the low might be in, at least rebound shall have legs.

SMALLS on the 15m
The first backtest was successful, giving us a double-bottom trampoline which lasted a day.
Now another backtest already……….
Very faint behind TNA u can see that the IWM options traders aren’t worried yet.
Gravity is trying to pull it down, but if we get a double–bottom or higher low the bears are faulked again.

https://www.youtube.com/watch?v=1VFuHj9_Tgw

this bull shall have legs.

First short term counter trend sell. come2papa setup.