Cobra's Market View

Down 2 weeks in a row means 63% chances up the next week.

You want proof ? You can’t handle the proof ! Should have confirmed the SPX high of 1 May.
Didn’t:
INDU lime
WLSH gray dash
TRAN brown
RUT cyan
Banks red

Candlevolume on the WEEKLY shows no stampede of selling, but one tweet can change all that.
Generally, if price can stay above the bolinger centerline ON THE WEEKLY, it’s “risk-on” for longer term folks.
So, next week is critical…

From " It is what it is department" weakness to continue, overall it's not all that exciting on buy side. see MACD on the short term for Price pays matters. what if this time is different? last week high is key, sell pressure will be strong under that level, buy above, simple....... Trade well, Peace!

Hedgopia reports that as of May 14, the flow into “money-market funds rose $16.6 billion to $3.1 trillion (courtesy of ICI).”
And the futures, ES, saw a small decline in longs: ”Currently net long 93.9k, down 2.2k.”
He notes the successful retest of 2800… “However, before bulls could think of testing the all-time high of 2954.13 from May 1, they would first need to reclaim 2890s, which bears defended both Thursday and Friday. The weekly has plenty of room to continue unwinding its overbought condition. Traders have not really taken to risk-on.”
https://hedgopia.com/cot-peek-into-futu ... ioned-103/

Simply Chart the Yaun...

CNYA

It could not be more obvious.... And China said last week they are going to try harder to stabilize their currency. Actually I think thats a sign they plan to do just the opposite.



Weekly sell, Thats a big Deal...



Just my thoughts and I'm a great fade... But Even a Blind Squirel as they say.



To disclose I am short XLF as I think the bottoms about to fall out.... The markets forward looking as we know and as we also know Yields are testing lows and going lower. Fed's projected to cut rates twice by the end of the year.



Also Long Gold... Actually GDX



Best to ya'll

Al_Dente wrote:Candlevolume on the WEEKLY shows no stampede of selling, but one tweet can change all that.
Generally, if price can stay above the bolinger centerline ON THE WEEKLY, it’s “risk-on” for longer term folks.
So, next week is critical…

518week.png.png

Thanks AD,

I enjoyed your chart as I think you hit the nail on the head, My charts, TA tell me the big swing bottom will be about 2755 and that is close to your center line. Also kind of close to the ABC I have been thinking since this rebound started. I do believe when we turn Swing Long it will be a very nice ride for the bulls. ELECTION coming up... Lower rates are all but assured....

flrtrader wrote:........Thanks AD....