Cobra's Market View

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the pullback probably will be bought. roller coaster show at 2 pm so not trade today, just watch.

members only update starts here: http://www.cobrasmarketview.com/2018/11 ... ay-update/

Fed or no Fed. we are entering sell the rip zone on daily setup, it has been a long time since the last one came and failed. as usual wait for RSI < 70 to trigger the sell.

XLE, XLI red to green

Intraday : I am selling but dip will be bought any time now, sooo.....few minutes will tell if the buy will stick or not.

XLF, KRE red to green

BullBear52x wrote:Intraday : I am selling but dip will be bought any time now, sooo.....few minutes will tell if the buy will stick or not.

buy the dip, same playbook. no failure here bulls.

Spectacular gap fill by SMH. Down nearly -1.5% at the open.

Likewise GDX. Although not from as steep a gap down.

Hard to tell from various charts-- SPY either just barely filled the opening down gap, or just missed it by a couple cents. Very close.

Overnight gap down on YM, ES and NQ. YM has filled.

Daniel wrote:XLE, XLI red to green

USO has decisively lost the $13 level, now down 1% on the day.
XLE (and XLI) now again red.

IWM had an overnight gap down. It has filled.

JFR wrote:IWM had an overnight gap down. It has filled.

This is why I use multiple charts, when focusing on a specific price level. Stockcharts says yes, price just barely ticked at yest close.. but FSC shows IWM a couple cents shy of gap fill.

If not actually trading the opening gap it makes little difference, the general trend is all that matters.

it's morning hourly hollow red.

a trade below 50% the buy is looking to fail. today is important day for sure.

Daniel wrote:USO has decisively lost the $13 level, now down 1% on the day.

Another dramatic reversal. USO has regained the entire loss, now flat on the day, and again over $13.

Meanwhile AAPL now down 1%.

QQQ and IWM have faded a bit and are now testing their (strongly upslope) 15min 20ema.

Daniel wrote:

JFR wrote:IWM had an overnight gap down. It has filled.

This is why I use multiple charts, when focusing on a specific price level. Stockcharts says yes, price just barely ticked at yest close.. but FSC shows IWM a couple cents shy of gap fill.

If not actually trading the opening gap it makes little difference, the general trend is all that matters.

We all have our ways. I watch and play the futures YM, ES and NQ for gaps, scalps and moves between pivots. Occasionally I look at the associated ETFs instead: DIA, SPY, QQQ and IWM. As one can see, I use NinjaTrader charts to watch. But I do not trade there.

All the way back down to the opening for YM, ES and IWM. Not quite for NQ.