Cobra's Market View

BullBear52x wrote:

jademann wrote:I understood that a VIX of 32 is supposed to mean a large change in the S&P index, which there is not. Is the VIX broken at this point?
https://stockcharts.com/h-sc/ui?s=$VIX& ... 9075927330

I use 16 and 24, volatility is way high on my read. over sold on $VIX, over bought on index, we should have a blip pull back first then will see, see the BB on SPX:$VIX it is border line bearish bias under the mid BB.

I had to use the free daily for the ema but these charts are equivalent.
I like my channels, I timed them out over much back testing and the green one combined with the ema is a good entry usually.

I am probably taking a break from the markets until July the 5th.
I am bearish more often than bullish, and I suspect that we will have support until after the holiday.

Long since Friday close after panic, I am thinking they want 3100/3115 by Thurs Morning. I will cover all longs there and put 50% of holding betting big on a swan dive next week. My cycle work says next two weeks down 2915 , small bounce and down into Aug 2825/2850. I think the highs are in for a while. Very nervous being long here but holding.

Covid earnings season kicks off on July 15th. so there will be plenty of nerves after J4th.

VIX is now indicating a minor UPRO Buy
https://stockcharts.com/h-sc/ui?s=%24VI ... 0599455137

Lets see if they get the VIX down to 29 bottom of the blue channel, or if they really try 26 where the 200ma is, for a good J5th entry.
https://stockcharts.com/h-sc/ui?s=%24VI ... 0599455137

Testing day high, 50% chances of double top.

'The central bank’s unprecedented actions allowed companies including Boeing, General Motors and Royal Caribbean Cruises, all hard-hit by the pandemic, to raise significant amounts of capital and stave off possible default—at least for now.' [WSJ]

I don't see bulls will give up, a trade below 3062 before I would say it's failing to hold intraday's high.

Cash SPX Fib, strong bulls, not going to give in today, breakout is good.

Chart for the road: tomorrow it is time to put on a bullish cap, histogram is good, bullish percentage not red any more, candles/bar chart all turning positive. dip will be bought. Peace!

Well, guess that's it for today. Here's what Wednesday tomorrow looks like: https://stockcharts.com/public/1684859/ ... /533449381

Thank you guys, I'll see you in another thread soon.

Before the close, please take a little time to vote for me, thanks: https://stockcharts.com/public/1684859/ ... /533449381

SP.1 Sep Futes SELLING < 3,101.25

Big dump at the end.. I picked up some of that since it was so oversold.

SPY 5. Up 3.90 on the day. Seems like hot air and helium.

I'm a little bull biased because real bears shouldn't be this slow, many days have passed, not down much so far. Possible range day today.

Good call Mr Co bra