Cobra's Market View

ABCstock wrote:Hi, Cobra: Is there anyway to put a water mark on your charts? In that way, everyone who see the chart will know you.

I can only put annotation on my chart, but it's lots of work as I have hundreds charts to update.

Petsamo wrote:Below is SPX 15 min chart, last few days. I don't see bearishness.

yeah, more on the upside, agree.

What level does the VIX need to get to for the "all clear" sign?

$25?

a little bigger picture looks bullish: breakout then consolidates above the breakout point, so the breakout may be as real as it gets. I expect more on the upside, not necessarily believe the Diamond target I gave last night but I think the push up isn't over yet.

IWM flirtin with the dark side. 15 min chart, last few days.

I have Max Pain on SPY for next week currently standing at 126. If there are no surprise that upset the apple cart (big IF these days), there should be an attempt to move in that direction next week.

Note though that the max pain level will be subject to sizeable shifts as the week unfolds.

Well it is getting close to closing. Thanks for the week Cobra. Have a good one all.

Cobra wrote:a little bigger picture looks bullish: breakout then consolidates above the breakout point, so the breakout may be as real as it gets. I expect more on the upside, not necessarily believe the Diamond target I gave last night but I think the push up isn't over yet.

This afternoon could be seen as a bull flag. No massive sell off into close may mean that mutual fund redemptions have slowed.
Have a good weekend. Thanks for the blog Cobra.

Well, guess that's it for today. The bigger picture is not bearish as I said a moment ago. Thank you guys, I'll see you the next Monday.

But VIX keeps rising, not good

Update: IWM did bust support very briefly.



4.01 million last sell on SPY; 520 K last buy on IWM.
Have a nice weekend everyone!

Thanks everybody ! More upside to come, but this is just a rebond...
Thx for this valuable blog cobra and the crew...
Have a nice week end

And the evening star configuration suggests a reversal on the daily.

Anaconda wrote:And the evening star configuration suggests a reversal on the daily.

yhea. let's see Monday's direction.

nice weekend everyone. Thanks Cobra.

Thanks Cobra for all your work, for which I give you great credit.

Avitar wrote:Thanks Cobra for all your work, for which I give you great credit.

Cobra wrote:well, I just hope the green line below could hold. we should all remember if this is an important bottom, today should be up and up and up disregarding anything indicators or news. but the fact is, we are not.

I think it's pretty typical that we rest after such a huge day. It will be important Monday or Tuesday we get confirmation. Have a good weekend Cobra!

biotrader wrote:

Cobra wrote:well, I just hope the green line below could hold. we should all remember if this is an important bottom, today should be up and up and up disregarding anything indicators or news. but the fact is, we are not.

I think it's pretty typical that we rest after such a huge day. It will be important Monday or Tuesday we get confirmation. Have a good weekend Cobra!

Yeah, we have to wait for the Monday anyway. Thanks and have a nice weekend!

Thanks Cobra,
appreciate your insight and reasoning...I just keep learning something new from this forum! Have a great week-end...see you on Monday.