Cobra's Market View

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Sharp sell off overnight, probably the rebound would be sold.

ES daily. Pullback overnight to the EMA 20.

The members only update starts here: http://www.cobrasmarketview.com/2020/01 ... ay-update/

ES five minutes. A move down and a move up overnight.

ES, NQ, YM and RTY overnight gap down.

At the open, only two Dow stocks ahead of the game. CVX and XOM. Oil stocks reflecting the assassination of the Iranian general.

XLE Energy, riding a wave.

I think the money will be made on the downside today. I called an immediate term top after yesterday's close for my subscribers before the bombing. This bounce should be sold pretty hard if my count is correct

GLD, LMT, RTN AND NOC doing well, following the developments in Iraq.

It's morning hourly hollow red

C/P Long Opening PUTS two times Calls and All Securities = DOWN DOWN

Fear/Greed 87 = DOWN

SPY SELLING Below 322.95 = DOWN

ES five minutes. All is quiet, in a base, for the time being. Things could heat up.

Back later ...

VIX is up 11%

Bias is up but I'll treat it as a range day. Don't think it'd be a downtrend day.

This market have no problem of gaping up at any level, this time doesn't hold. Sell

RSI neg D. is now in play.

As I said before, Neg D is not necessary mark the real top as seen here. bulls will fight out one more time at the least. every time we got HH, trend following should earn a buy dip coupon this is including over night high.

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NOT QE time: *FED BUYS $7.501B OF BILLS FOR RESERVE MANAGEMENT
9:04 AM · Jan 3, 2020

Time stamp is mountain central so 11:04 eastern. 5 minutes later the market bottomed and started the current run . I am sure it is just a coincidence.