Cobra's Market View

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testing range low, let's see any buyers here.

It's our turn to have fun;

members only update starts here: http://www.cobrasmarketview.com/2017/05 ... ay-update/

SPX 60m/Daily.. mind the lower open gaps, and yellow line.. lookin to tags and 20d/50d bottom red/yellow -

fehro wrote:SPX 60m/Daily.. mind the lower open gaps, and yellow line.. lookin to tags and 20d/50d bottom red/yellow -

that's a pretty island top … SPX 20d 2383.75 key and 50d.. 2369.70.. look to tags..
SPX possible support to 20d tag.. not sure

SPX close below 2370 today suggests more weakness to come.

The S&P had also bounced off 2381 close to 6 times in the recent past (see best on 60 minute). Just went through it. Maybe a larger correction, than a BTFD trade......

Required reading [save for later]
4x ES leverage anyone?
This is the kind of foolishness we started seeing in 2000 and 2007
BUT it hasn’t been approved yet….

http://www.reuters.com/article/us-sec-e ... SKBN17Z009

https://www.ft.com/content/a5af4864-305 ... ef563ecf9a

search “RED FLAGS” HERE:
http://www.zerohedge.com/news/2017-05-0 ... sp-500-etf

bounce zone.. maybe.. if not 50d SMA SPX 2369.50

NY declining stocks = 3.8 x advancing stocks
NY declining volume = 4.1 x advancing volume

Both were near 5x just an hour ago

https://www.youtube.com/watch?v=UqcONoahlmQ

20d/50d dropping like flies..

might rebound here but maybe this bear shall have legs???

fehro wrote:bounce zone.. maybe.. if not 50d SMA SPX 2369.50

ding ding 50d tag

BAC great buy here 5/26 calls... Firm Support and x dividend 5-30 with intrest rate hike coming up. I like it up 2 bucks from here.

IMHO

fehro wrote:

fehro wrote:bounce zone.. maybe.. if not 50d SMA SPX 2369.50

ding ding 50d tag

/ES 50d 2365.75 almost there

What goes almost straight up, will also fall the fastest.... Semi's leveraged down almost 9% today!

heat map
box size always represents market cap

We were in the $SPX April 24th gap earlier (but bounced), hopefully we can get that filled pronto!