Cobra's Market View

It's been a strong move in a short time. The S&P was below 1600 late last week, but as of now, it's hard to imagine getting back below 1600 because of how bullishly biased things seems to be. Recent economic data has not been supportive of the move up in recent weeks.

Looks pretty toppy to me here Not saying we can't go higher but... if you were a MM would you buy here with commercials net short interest huge and margin debt at record levels? If so you would truly be a F'n idiot IBM and AIG gap down and AAPL :roll: I agree the market looks toppy, but these situa...

Bulls target hit with ease. I came in today with a pullback mentality so I missed all the run up, but I will not miss a run down if there will be one today :( hard to imagine a pullback of magnitude, given the run-up today, on very little news. Market bias is clearly to the upside. CPI and industri...

we still need to close the gap on the SPX from 1:20, so I suspect we head to 1520.5

let's hear it for the bears! I love it when the bears attack.

that's it! the selloff is over, and now we bounce. 1525 recaptured by the end of the day on SPX.

Seriously though, the snake is correct. Too soon to tell.

Cobra wrote:possible target on the downside. I'm not sure if I should believe though.

you are wise not to believe. I think market is bouncing.

Quite surprised if support 1525ish brakes on a closing basis... 56.png I cant' say I would be overly surprised. The market has been waiting for sometime for a distribution day, so maybe it overshoots to the downside, only to be bought in the coming days. I think the market is still in "buy the...

Quite surprised if support 1525ish brakes on a closing basis... 56.png I cant' say I would be overly surprised. The market has been waiting for sometime for a distribution day, so maybe it overshoots to the downside, only to be bought in the coming days. I think the market is still in "buy the...

MrMiyagi wrote:I thought BPGDM might be the reflection of AMEX GDM, just wanted a confirmation.

!!!!!!!!!!!!!POWER HOUR!!!!!!!!!!!!!!

the new rule is all selling will be met with a more voracious buying appetite, pushing us higher, FOREVER!

Evidence: Small caps have been positive every week this year!

MrMiyagi wrote:

615.png

great post and chart. thanks.

Trading outside the bollinger bands on $SPX and $IWM

Al_Dente wrote:sheeeesh that was quick

you called it. The 3 bears left are getting squeezed now.

big volume spike on $IWM 1-minute chart.

$IWM action is interesting. Seems like the market wants to push higher, but is met with selling each time. Still the bias seems higher. It will be interesting to see if small caps can continue to grind higher, not only today but for the rest of the week. Decent economic data coming out in the coming...

Yes “beats me” means clueless No matter what spy says, uber-short term I’m still watching the bull ratios deteriorate But the bear ratios are not picking up enough... yet Interesting post. Are you expecting a pick-up in bear ratios? Does the opposite ratio lag, if there is a trend change? Seems lik...

Yes “beats me” means clueless No matter what spy says, uber-short term I’m still watching the bull ratios deteriorate But the bear ratios are not picking up enough... yet 219one.png Interesting post. Are you expecting a pick-up in bear ratios? Does the opposite ratio lag, if there is a trend change...

I've got a signal on the 1 min at noon... R2K looks tired to me. What are your thoughts? Seems like momentum has waned. Friday showed some large downside volume. I also think a pause or small pullback would be healthy longer-term. Long term chart shows the importance of resistance at this level. A ...

Cobra wrote:overshot, another pullback here is possible then we'll see.

looks like this pullback has some legs.