Cobra's Market View

McClellan on his Summation Index
https://www.mcoscillator.com/learning_c ... for_bulls/

A tool seller on twitter (HFC Alerts) saying the big boys who have been shorting for two weeks started covering this morning.

Tick Toc saying on his free reports that he expected the same thing to happen. He also said he expected recent weak longs to get out. His line in the sand for bulls is 4650

I don't see covering yet .... maybe soon ...

Does the cash market close at 12 or 12:30?

Al_Dente wrote:75% of the NYSE stocks are declining at the moment (was about 88% on the open)

UPDATE:
almost 90% are declining.... that's extreme...

SPY 5. Hanging around the bottom. Yet to make up its mind. Go deep? Starting to get squeezed by the EMA 20 and the support level.

Later ...

te_fern wrote:Does the cash market close at 12 or 12:30?

Looks like 1:00 based on a quick search...

te_fern wrote:Does the cash market close at 12 or 12:30?

Closes at 1:00 ET
According to Schwab there is an extended AFTER MARKET session from 1:05 to 5:00 ET

The very first test of EMA20 in 2+ hours usually is a sell, watch for for EMA short setup. The only problem is the market closes at 1pm

Al_Dente wrote:

te_fern wrote:Does the cash market close at 12 or 12:30?

Closes at 1:00 ET
According to Schwab there is an extended AFTER MARKET session from 1:05 to 5:00 ET

Thanks Boss!

options traders on the 60min

If we close near here, it will be the first RED Elder Bar in almost two months
for SPX, QQQ, SMH ... we'll see...
Daily

okay the covering starts
can it continue?

Well, guess that's it for today. Here's what Monday looks like: https://stockcharts.com/public/1684859/ ... /533449377

Thank you guys, I'll see you in another thread soon.

Before the close, please take a little time to vote for me, thanks: https://stockcharts.com/public/1684859/ ... /533449377

Cobra, It seems it is a 90% thing that a big red bar (Always) continues at least a few days. Is that the case?

Thx

NYMO down 29 points to -67.42, slightly off the day’s low.
NAMO down 18 points to -55.66, just below this week’s low.

Markets are closed now, the ‘official’ print should be out in the next couple of hours, but will be pretty close to this.

flrtrader wrote:Cobra, It seems it is a 90% thing that a big red bar (Always) continues at least a few days. Is that the case?

Thx

It's now a major distribution day yet (Need the final data after 6 pm though). Even it were, it only means lower low ahead, doesn't mean several more days of selling.