Cobra's Market View

the low might be in or close, may miss a higher low or slightly lower low revisit of the day low though.

Please note that CSX is also one of the 100 stocks in QQQ

Miners tried four times to break-out, then today went bonkers
Here’s what I mean by “bonkers”
Comparing a handful of favorite ALL LEVERAGED ETFs, percentages
15 min, 20 days

Hit the 2990, maybe forming a small HnS formation now???/

Often you can see it coming in miners, as the GDX/GLD ratio (bottom panel) tends to lead
5min

top trades at fidelity today, few minutes delayed

CSX
seriously
"The CEO of railroad giant CSX says he’s baffled by the U.S. economy"
https://www.marketwatch.com/story/the-c ... =rss&rss=1

1 min up to an Hourly = sell the rips

NYMO and NAMO gone RED today. Bulls need to take precaution.

68.1% is not that far out.

Top reversal confirmation today, see last fail one (the lower one) where to put a stops. If you are swing traders this is a sell signal that triggers. at this junction odds are with da bears.

Stuck in the middle again.

Trades with cats wrote:

ES 09-19 (15 Minute) 2019_07_17 (12_50_11 PM).png

Stuck in the middle again.

2000 contacts sell volume under 93ish will be fun

supports

Wednesday July 17 after the close: IBM, EBAY, NFLX
Thursday July 18 before the open: MS, UNH, UNP, TSM
Thursday July 18 after the close: MSFT, ETFC,

[SAVE FOR LATER]
This is the Opiod report that we’ve been waiting for:
“…data showed big pharmaceutical companies pumped 76 billion oxycodone and hydrocodone pills from 2006 through 2012 into nearly every zip code across the country....six companies distributed 75% of all the painkillers during the six years: McKesson Corp. (MCK) , Walgreens (WBA), Cardinal Health (CAH), AmerisourceBergen (ABC), CVS, and Walmart (WMT).”
zh “The harsh truth behind the ARCOS data is that it's not Mexico and China who are responsible for the opioid crisis, as the … admin likes to scapegoat frequently, it's …big pharma…without government doing a damn thing about it.”
https://www.zerohedge.com/news/2019-07- ... to+zero%29

Drug Dealers chart, daily

Worthless comments:
IBM They lost the battle of the cloud surviving on buybacks but unlike the leader in that strategy (Apple) they don't have a huge war chest.

Netflix forward guidance and Q&A could be really really ugly. The doomer scenario is playing out as the providers of their most watched content (reruns of Friends, The Office etc) refuse to renew licencing and are introducing their own services. It has taken a long time but the view that this is just another silicon valley debt pozi tied up with a glitzy bow could become popular with money managers.

Microsoft chart is popular as an example of parabolic. It's continued vertical rise I assume is dependent on them proving they will beat Amazon in cloud and the very high 40% cloud margins will continue as it becomes a mature segment and every corporate data center is closed. All perfectly reasonable assumptions.

You are correct in assuming that I see the tech industry as a giant rerun of the earlier Greenspan liquidity flush creating pointless profitless startups. But from the ashes of Pets.com 2.0 some great opportunities will arise.

Now that the day is over I figured out I needed to draw the lower leg of the channel and move it up. Some days I am a bit slow.

Should be lots of Elliot Wave chatter now that we have some impulse down move. Also lots of low volume up the first couple of days in July sort of like rotten floor boards for the bulls.

last sell rip still managed to get new LOD, buyers are no where to be found, but no waterfalls as I hoped for, I am done today. Peace!