Cobra's Market View

2 PM Signal updates : Take profit time

60 min Take Profit under 169.24

60 min Short signal under 168.74

120 min Short signal under 168.43

1 PM: Signal updates still upwards bias but weakening

60 min Long Stop loss under 168.74

60 min Short signal under 168.74

120 min Short signal under 168.43

12 PM signal updates:

60 min Long Stop loss under 168.59

60 min Short signal under 168.59

120 min Short signal under 168.22

11 AM: Reversal long signal on the 60 min over 169.01

12 PM: although SPY crossed twice the stop loss line and even made a new high, it did not close the hourly above it and therefore the 60 min short is still on.

Because of the new high there is a new short signal on the 120 min under 167.15 on SPY

1 PM: Update 60 min stop loss to 168.21

12 PM: 60 min short was triggered and SPY confirmed by closing under it, so GAME ON. Stop loss is at 168.31

12 PM: Update short entry under 167.24 on SPY but if the upward momentum continues it will probably get voided

10 AM: Short signal update to below 166.89

11 AM: moving side ways again but I think this time it will end with a correction

11 AM: And here goes the 120 min divergence out the door

10 AM: Mr Bounce definitely came to visit this morning and took away the negative divergence, so no short signal on the 60 min for now

3 PM: Signal updates

1 PM Signal update - No major changes , looks like the consolidation is still on

11 AM: So far looks like a sideways consolidation but will probably see some more correction

1 PM: Short signal still valid but close to being voided, see chart for updated entry line

11 AM: A slight negative divergence with a short signal under 163.28 on SPY, but I would really like to see a bigger divergence

11 AM: With the strong rally the 120 min short signal just became void, any retrace is probably a buy opportunity

1 PM Signals update - Short is still alive but hanging by the fingernails

11 AM signals update, no close above stop loss point so still short