Cobra's Market View

Market Neutral.

My composite trend indicator signal is down. Bulls need to get bullish percentages up to turn it.
My summation index signal is mixed. The SPX component is up on a break of Thursday's high.
The NASDAQ and R2K components remain down.

I am watching from the sidelines and trying to be patient.
Technicals seem to be a mixed bag to me at the moment.
Seems like Mr. Market wants to go make new highs but there are issues.
He also often likes to put in a low late in the week before OPEX.
So, I'll wait for a setup to come to me.
In the mean time, maybe I'll go walk the dog or give my mom a call or something...

joegamma wrote:Wise AL: was that fail yet?
tia

Fail which joe?

Here is dollar between gap resistance and gap support

I traded too much already today, sleepy, I don't see how market can hold up today too much selling pressure.

VIX analog still working...

Showed a BBand squeeze and pop up in VIX...we got that...next a bounce off of the 50dma...we got that....now it's possible we get a move up in the markets and a drop in the VIX...

Of course, I just previously said we may see a low of some kind on the 5/6th...so a move up/drop in VIX after that of course...

Not sure if this is what TG was posting last week since I did not get to read all the posts.The chart shows how much higher and timing of the new highs including a new higher high coming up soon.Anyway info to watch and compare.

KENA wrote:Not sure if this is what TG was posting last week since I did not get to read all the posts.The chart shows how much higher and timing of the new highs including a new higher high coming up soon.Anyway info to watch and compare.

130228 Dow.jpg

Kena, I can't see your chart in a larger format??

Al_Dente wrote:

joegamma wrote:Wise AL: was that fail yet?
tia

Fail which joe?

Here is dollar between gap resistance and gap support

The attachment 34dollar.png is no longer available

seems to me aggressive sellticks this morning

TraderGirl wrote:

KENA wrote:Not sure if this is what TG was posting last week since I did not get to read all the posts.The chart shows how much higher and timing of the new highs including a new higher high coming up soon.Anyway info to watch and compare.

130228 Dow.jpg

Kena, I can't see your chart in a larger format??

Thanks..I tried to enlarge don't know why..But as it is it is not worth much.

Enlarged view.Click on it for larger view.

where is everyone today?

Here are some channels that have been important in the past....top one was bullish on a breakout....bottom one was bearish if it dropped below...

Right now we are inside a channel of congestion...indecision....

It looks like a break below the Mid BBand (25dma) could take us down to the next support? 1500ish..

joegamma wrote: seems to me aggressive sellticks this morning

1al-tick-5min304.png

nice
changes fast
squeeze now

able to break above the thick blue line, I'll read it as double bottom therefore bullish biased, wait.

No need to frontrun guys, waiting for that price confirmation by the market..

with this type of volatility indexes, all still under their ma, at best sideways to down.

I have a top today or tomorrow from GANN timing. Thanks everyone.

Mark wrote:I have a top today or tomorrow from GANN timing. Thanks everyone.

What kind of top and for how long?

It should be a top on DOW weekly chart, low should be in May.

Mark wrote:It should be a top on DOW weekly chart, low should be in May.

Thanks Mark...