Cobra's Market View

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Maybe it's a rising wedge here so could be a pullback somewhere. Holiday week, I don't expect big moves though.

Flat open so likely a boring range day.

Why fragility is the new reality for the stock market
https://www.wellington.com/en/insights/ ... gility-us/

4289 looks tough, maybe a morning top forming. Not going short without overabundance of proof.

Pennant, bias is a little bit up.

Today's secret word is Churn

SPY daily. The rally continues.

Dow 30. NKE and GS leading.

Alternatives. "What goes up, must come down." And vice versa.

SCHWAB:

AMC*
Stock:
100% margin requirement for long positions.
200% margin requirement for short positions.
Options:
Long calls, long puts, and covered calls are permitted.
Selling short put options is permitted if you have available funds to cover the entire amount of the exercise.
Selling naked calls is permitted if you have available funds for increased requirements.

GME*
Stock:
100% margin requirement for long positions.
300% margin requirement for short positions.
Options:
Long calls, long puts, and covered calls are permitted.
Selling short put options is permitted if you have available funds to cover the entire amount of the exercise.**
Selling naked calls is prohibited.

I am expecting up day but it's too weak for my liking. a new LL will send this market straight down. bulls are out of juice looks like.

Divergence:
SPY higher high (ATH)
Call buying lower high

"When Persistent Higher Highs Don’t Suggest a Pullback"
https://quantifiableedges.com/when-pers ... -pullback/

SPYG. Lots of fades.

SPYV. No respect for value. "We want growth,'' say retail market players. High P/Es. Prices that move. Action. Adrenaline.

AAPL testing possible double top

lots of supports but for day trade this is a melt down day.

Last buy for today, well, it is a buy day, what say you?

Intraday MA support/Dip buy failed, now I can say we have a bearish reversal day. bears can take it from here. two sell coupons for bears.