Cobra's Market View

Daily SPY:

If you look back to august 15th, we were about to get a upper bb breach on the candle. Those are rare and historically that formation has about a 50% chance of marking THE top of a rally. We just missed the breach BUT it marked the rally top anyway.

Daily SPY:

It looks like we will get a MACD bullish cross but it will be an invalid cross and not a buy signal. There was a chance that could happen and we did get the scenario to wipe out the buy signal.

daily SPY: we are approaching a bullish MACD cross, the first since July 1st. As it currently stands, that would be a valid cross (altho that could change depending on how it played out) which signals the end of any thought of a correction and a rally. The last such valid cross was also July 1st and...

Well that would have blown up.

I should short right NOW at SPY 213.44 but im not due to speeches.

Im more than willing to scrap all my plans due to speeches today lol

daily SPY:

target is SPY 204. So looking for an entry on some sort of overbought condition. Couldn't short the gap down since that was extreme oversold. I'll be patient for my entry.

Well, if we gap down in the morning im not gonna bother shorting.

Remember, when a pattern looks good, it usually fails. So mad money only! Only use money you can afford to lose!

Daily SPY: Friday was very rare because SPY broke a long uptrend / consolidation on SUPER HEAVY volume. Usually a correction begins on lighter volume, and then volume picks up over the next couple of weeks as selling intensifies. THIS is different. SPY sold off long and HARD. Looking back over SPY h...

If you want to be a millionaire, get on eBay right now and buy up a complete set of all the iPhones ever made, all still boxed never opened. Keep the entire collection and in 20-30 years throw them on eBay as a set.

You could go out right now and buy a iPhone and iPod Touch. Never open it. Keep it in a safe place. In a few decades they'll be worth maybe $75k.

"iPhone...the best selling product of its kind in the history of the world" 1 billion sold In 20 years, 99% will be in landfills. It's all garbage my friends, everything you own will one day end up in a landfill. And the other 1% will be on ebay selling for $100k to Apple fanatics who wan...

Daily SPY:

The late June correction will fall out of the 50 DMA calculation this week so that will jump up quite a bit.

Jared Dillian, former Lehman Brothers trader and noted financial writer recently post a video about Canadian Dollar and Canadian Housing Market. Highlight of his talk 1) Canadian Dollar will go to 1.60 ( Today it is trading at 1.30 to USD) 2) Interest rate in Canada will be negative ( prime right n...

daytradingES wrote:how long (days) can this sideways chop continue?

I don't know but I've been in cash for a very long time now.

I hearing a rumor that tradingview.com is dumping their real time charts or .... something....as of august 15th. I cannot source it. Can anyone here verify / clarify this?

All my signals were avoided since we were basically flat. Dunno about the other system i mentioned.

Looks like we're heading for the boring ending where we neither get a breach not reversal...

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