Cobra's Market View

There is a lot of selling to a lot of buying volume that is keeping a lid on prices.

Seems like a "change of hands" is going on. I worry about those who are doing the buying.

BIG question I have is whether or not the will pull the rug out from the market at 2:30pm today... 2 more minutes to find out. This will be interesting... looking like a cup and handle breakout... perfect area to pull the rug out on all those who went long on the cup and handle breakout. However, if...

Why do I get the sick feeling the whoever did the mass buying at 2:30pm yesterday will show up today at 2:30pm and start some serious mass selling now that we're up at these elevated prices? Talk about taking people's money away! Let's see if that happens. If it does, it's a sign that the sharks are...

Zooming out to the weekly, the 10 and 80 SMAs are crossing over. That is a pretty big deal- in over 15 years, these cross-overs have never miraculously "crossed back" and have each time signaled a bull/bear market cycle. If there is any question as to where we are heading in the coming mon...

For the bulls, the hurdle to clear is well, clear... chart from Gann360 (thx!)...

Since I've been playing the VIX (via long TVIX positions), I'll tell you, I think it is getting ready for another spike up... I noticed that the BBs are coiling up now as it refuses to go down and stay down... we're also levitating above the blue median line of the BBs... most importantly, the VIX i...

Here comes the drop, let's see if they decide to pull the rug out from under now or if they save it for later....

This smells like market makers ripping off both bull and bear retail small fish traders... using rumor mill to take out stops in both directions and luring new positions to be opened. In a bear market, bear market rules apply. Sticking with the long term down trend analysis for now until proven othe...

Wow- talk about an intraday reversal! Only way to survive is to stay nimble and don't let emotions get the better of you, no matter if the market does or doesn't do what it "should" do. 100% in cash after taking profits on TVIX in the early afternoon. May actually play the long equities si...

Cashed profits out of my TVIX longs... didn't like that last spike. Whew! that was close!

Will wait to see what happens next.

Last ditch effort by the bulls... mini-bear flag to get to a touch of the descending triangle and give it a kiss of death?

Let's see if this is their trump card they've been hiding.

and we have breakdown!!!!

Was fun watching it while it developed... the outcome was as anticipated... higher probability prevailed.

Now we get to watch the fireworks!

Just in case there was any doubt, SPY got the emphatic double beat-down back into the descending triangle... it's time now for the bulls to show what they got or get ripped to bits by the bears. Do they have a trump card hiding up their sleeves? Maybe, but again, chances are that they don't.

The more likely outcome prevailed.. batted down. They gave it a good fight though.

Time is running out for the bulls in the descending triangle... they need to get a rally going and get it going soon, or they will be staring at a swift elevator ride down.

We are right at the descending triangle trend line now- let's see if the bulls have enough to break through (less likely) or if they will get batted down (more likely).

Intraday 1-minute - SPY looking like it's locked in a descending triangle formation. If this thing cracks down, it would coincide with the MACD crossover in the daily time frame. Multiple corroborating signs in different time frames make the probability of more down this afternoon the higher probabi...

Hi folks, So I've held my long TVIX positions from last Friday, was going to add more today but actually ran out of dry powder... doh! Zooming out to the daily view, things are not looking good for the bulls. Main problem for the bulls is the impending MACD crossover- it will be very hard to rally f...

From the weekly view point, the huge tail on the shooting star is a give away. You can bet against it, but that is a low probability chance (look at chart I attached - chart created by Albertarocks but explains what I'm also looking at) Add the fact that the shooting star tail was rejected by the we...

proteus46 wrote: I think we are setting up a major bull rally for Monday. The only requirement is that Greece does not default over the weekend. imo If break through that lower channel of the bear flag that has been forming all the way back since Aug.10, the chances for a major bull rally on Monday...

We had a pretty weak bounce off the bear flag... if we break below it later this afternoon, look out! Closed my spec long position yesterday with a small loss- idea of a two legged up move didn't pan out. The rebound was weaker than expected. Re-opened TVIX longs at the open - may hold them over the...