Cobra's Market View

Al_Dente wrote:We've seen this play out a few times before: a "potential" bottom
60m
"Recency Bias" say to ride it (lime arrows) until it fails (red arrows)

Screenshot 2022-05-13 073826.jpg

I like that chart!

BullBear52x wrote:I am buying in now, stop at the LOD. this could be a good run or R/R is at it's best spot for bulls. me thinks.

Little wedgy thing going on here, good R/RW here I agree

Feels like washout coming here. Volume picking up big time.

BullBear52x wrote:Crystal ball. another long weekend for me. no trade tomorrow. 3965 will be my optimum target. lets do it.

Market is weak, still on sell. My bottom call earlier this week, got wiped out within hour of trading Tuesday. Back to cash and watching for lower $3700 area.

BullBear52x wrote:Cash SPX Old chart, look to 3700, unreal but it's TA.

There is an pbar that printed late year (around the peak in market), down to $3658. Marked it on one of my charts, and glad I did. Got stopped out of my long positions this am. Flat now waiting for a buy level.

BullBear52x wrote:The danger of bear market is they are specialized in sucking you in.

Indeed!

If I were short market I would seriously consider covering. Options flows look pretty bullish up to $4170. Feeling good about my long positions.

Panic spikes in the past, we need one soon. not one yet. Yes they are panic spikes, but suggest you need to add the high TRIN print to the equation. TRIN WAYYYY off today, TLT rallying, TICK positive on the day. We may go lower, but we are in the buy zone IMO. Also, VIX sending message, this sell o...

Seeing lots of market crash posts on Fintwit etc. I'm a bit lost on this concept, yes there are risks, but we are starting to price in very low probability scenarios down here. Selectively deploying cash. Technical buy set for IWM 166, SPY 386 though I doubt we get there on this trip. Watching TRIN ...

Hi all, I'm a big fan of channels, I think they help us define which way the market is heading. I've been really focused on this chart the last few weeks, as I think it clarifies both the intermediate direction and battle zone ahead. 3 key observations: 1. We are still very much in a secular bull, b...

Correction and crash or correction and waiting for recover or crash? people still trading like it is 1999. old charts as a reminder :lol: Agree. This is a really precarious position the market finds itself in. I've generally been pretty neutral regarding direction as the economy is still in really ...

BullBear52x wrote:5dma support and filled the gap. Gap down tomorrow is in the card. so don't count that out. Peace!

Could be an ugly day. Persistent selling all day today. Wonder what the smart money knows?

Strange day, bulls are non existent. Kind of surprising given the lack of interest from bears.

Couple quick observations: A: ($TRIN) Fell out of favor with TRIN & TICK over the last 10 years of bull market. For some reason $TRIN has been inordinately accurate the last few months, indicating selling pressure under the hood. $TRIN has been very elevated all day, I suspect we are going to se...

This is what I called "jumping the creek" a breakout and hold will be very bullish for many more days before filling the gap. if failed, it will be down few days also before the buyers can regroup and try again. tomorrow is the position day for Bulls/Bears a like. This rally is crazy. I'm...

Just opened a number of short positions on QQQ & SPY. This run is toast.

$VIX nice bounce off the 20 mark.

Al_Dente wrote:Cramer says the Bear Market is over
Many are posting: That confirms that the Bear Market is not over

LOL, true that

Bulls need to get this up over $4530 before close (weekly mid bb).

SPX 4533-4555 tomorrow am is my target. A weekly close below 4530 (weekly mid bb) is the key. If we close and hold above the mid band, retest highs be likely.

Bearish today, next week I might be a bull as distasteful as that seems.