Cobra's Market View

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Double top (red arrows) then bear flag breakdown? Anyway, all depend on the roller coaster show at 2 pm.

Think auction!

Lower channel is broken.

anyone have an idea where we go over the next two days?
Perhaps VIX to 24 after first hitting 28 maybe?
https://stockcharts.com/h-sc/ui?s=$VIX& ... 1309525406

Al_Dente wrote:

The attachment Screenshot 2022-11-02 070609.jpg is no longer available

Look at momentum now and the last two rate hike. pointing down but above 0 line. can not count the bulls out. still room for and up beat. the selling this morning is weak not a strong sell.

The NYMO cycle is UP.
However, last Friday's NYMO high looks like it could be the high for this cycle. Time will tell.
As the model benchmarks price high/lows to NYMO high/lows, higher price highs from here could accrue potential downside energy if they are not accompanied by higher NYMO highs.
We shall see.

Since NYMO hit the Upper Turn Zone, price has been consolidating around the middle keltner band with a bit of upside bias.
It probably won't be too much longer before Mr. Market makes a break to run toward one of the outer keltner bands.
I have no idea whether it will be the upper or lower band.
We have two nearby open gaps below, and we opened one above from yesterday's close. All these could close without a directional market.
There is a deeper gap open below at SPX 3583 and a bunch of stranded ones north of SPX 4100. It will take a directional market to get at those.

I remain long a runner position in SPX. I have been snugging up a profit stop on it, but otherwise have been doing nothing.
I have been sitting on an open to buy for R2K. I am not sure why.

Options traders are finally shedding some calls.... we'll see how that looks after POWELL...

BullBear52x wrote:Look at momentum now and the last two rate hike. pointing down but above 0 line. can not count the bulls out. still room for and up beat. the selling this morning is weak not a strong sell.

NICE, THANKS BOSS

EMA20 now is the bear's last chances to make another leg down. I won't count on either bear or bull as both probably are waiting for the 2 pm roller coaster show.

New development: $CPC is now >1, if this stay above 1 by end of day, I will expect a down day tomorrow. That's long time for day trade

BullBear52x wrote:New development: $CPC is now >1, if this stay above 1 by end of day, I will expect a down day tomorrow. That's long time for day trade

Is there a good ticker on Trading View for the $CPC? Thanks!

New LL from here will confirm down trend day. but again, everyone, their dogs and cats are all waiting for the power that be to speak.

te_fern wrote:

BullBear52x wrote:New development: $CPC is now >1, if this stay above 1 by end of day, I will expect a down day tomorrow. That's long time for day trade

Is there a good ticker on Trading View for the $CPC? Thanks!

Just CPC

Thank you BB52!!

Al_Dente wrote:

BullBear52x wrote:Look at momentum now and the last two rate hike. pointing down but above 0 line. can not count the bulls out. still room for and up beat. the selling this morning is weak not a strong sell.

NICE, THANKS BOSS

te_fern wrote:Thank you BB52!!

Once the $CPC > 1 and $VIX/VIXX are pointing up, fear is lurking. $CPC is dancing Over/Under 1 back and forth as of now.

Starting to look interesting....(3 x .20 user defined chart spy)