Cobra's Market View

Up 2 weeks in a row, the next week has 54% chances to close up, 76% chances to make a higher high.

So more up.

" It is what it is department" The question this week will be what could go wrong? (dips will be bought in all time frames) The one chart I see that is concerning of this run up is the $SKEW, I am not an option expert. High skew indecates more calls sellers and puts buyers, Sell calls buy puts as a hedge. a surprised hard dumping could be in the card. for day trade, nothing to worries, it's a gift if you are on the right side of the moves market could be quiet until Wednesday rate cut roller coaster (first in a long time), Thursday is two big dogs meeting in S.Korea. Wednesday and Thursday are the two days that you need to just eat the popcorn and watch the show. The big move is on its way, the question is "can you catch the tide and ride it like Kelly Slater" ? at this point, I will watch the $VIX and $VVIX like a hawk. a tick up on them will give the earliest warning sigh. Intraday: new swing high, it is bullish bias, the price action was negative on Friday tho. BUT....I don't expect anything will be a hard trend until Wednesday-Thursday. keep it simple. Peace!

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