Cobra's Market View

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maybe it's kiss the channel goodbye? It's the 3rd gap down now so I won't put much faith in that it'd be bought again like the previous two times because the 3rd time's charm.

SPX opens at/under 20d SMA 2749 .. not good.. mind the H&S on /ES from yesterday, and late last night post… possible another.

SPX stalls at 20d SMA look to 2720 next key level of support.. that goes it will get ugly very fast.

SPX 50d 2705, then 200d 2657

members only update starts here: http://www.cobrasmarketview.com/2018/06 ... ay-update/

2720 pink confluence.. key SPX daily very key

mind those 20d/50d across the board… VIX into 50d INDU 50d.. etc etc

Wow biotech flying high,safe money haven,tariffs don't hit bios

TICKs are working off the strength of yesterday's close....

IWM, MDY, XLI, IYT lod

..xrt, xly now as well

DOUBLE BOTTOM HOLD OR.... yeah this is gonna bust, can't see it hold this early.....

johnnywa wrote:Wow biotech flying high,safe money haven,tariffs don't hit bios

Other clear rotational moves today are housing and staples. Plus the std defensives of Utilities and Real Estate trusts.

morning hourly hollow red. the implication is on the top right of the chart itself.

Greater than 2% losses now in several major sectors, such as semis, materials, industrials and transports.

Daniel wrote:

johnnywa wrote:Wow biotech flying high,safe money haven,tariffs don't hit bios

Other clear rotational moves today are housing and staples. Plus the std defensives of Utilities and Real Estate trusts.

Wow they are on fire

consolidation here would mean break down likely so must rebound asap.

SPX buckle up.. 2720, 2705 50d

9:39
es
2749.75 08:31
2758.75 08:48
2746.50 09:32

as usual, will test ema20, break it then the low might be in, so wait.

SRPT just announced crazy-good data, up 58% ($55), was halted in the morning and market turned on the re-opening. Coincidence????

166.50--167 is clearly defined support for IWM. Price currently holding just above that narrow range.