Cobra's Market View

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testing range high, key time. today has chances of being a trend day.

members only update starts here: http://www.cobrasmarketview.com/2018/10 ... ay-update/

Smalls seem to be going sideways....

te_fern wrote:Smalls seem to be going sideways....

Huge divergence today. IWM with a gap-and-crap... while SPY is following its large Up gap and is pushing a new HOD.

TICKs obviously up, but seem to be flattening....

SPX looks to be aiming for its earlier high! (blue line)....

if the pullback here is not sharp, then it's uptrend day. key time.

TLT is testing multi-week support in the 116.50 area.

ES is out of gas for now, guessing at a VWAP bounce. That channel has held all morning so not a good look. Also the zerolag oscillator (about the same as a faster PPO) has dropped below zero so everything I watch is saying be ready to sell, for now.

te_fern wrote:SPX looks to be aiming for its earlier high! (blue line)....

nerve racking, double top potential at 2940 ish level. need to blow that out of water, get off pot market. bears got great shot here if they want...

VWAP holding for now.

this most bothersome chart for me...what up with banks?? need to recapture big averages...

First thing first, dip will be bought. no weakness to call high of day is in that I can see.

Off VWAP but nothing but wicks and tails. That means I will Sit On Hands till market shows it's hand.

brokebybernacke2 wrote:this most bothersome chart for me...what up with banks?? need to recapture big averages...

oh, and Gartmann went long..

As TWC said, hanging above the VWAP....

Smalls still showing weakness.

SPY hanging tough, think this is just consolidation and it will continue to trend higher today. Should retest ATH.

it's still not clear uptrend day or range day. may test ema20 first.

BullBear52x wrote:First thing first, dip will be bought. no weakness to call high of day is in that I can see.

@Bullbear , good to see you back in the forum. Expecting to see your charts and thoughts