Cobra's Market View

Market does look shaky here, ready to make another trip down to the low end of the recent range, but I think it will hold. The bulls aren't making ground but the bears are slow to move the tape as well. Considering the increased volatility they really aren't making much progress.

BPSPX needs to get off it's damn ass

being bearish is very risky at this point.

weve gone 33 days without at least coming close to the upper bb on daily spy. very rarely has it gone much further than this. im not sure what people are expecting. i do know that extreme bearishness emerges near the end of corrections, and i believe were seeing some extreme bearishness now.

unless people are expecting just a short term drop to lows and that is the bottom. that would work. but long term bearishness NOW is completely unwarranted imo

NY declining volume = 1.4x advancing volume
NY declining stocks = 1.0x advancing stocks
Either side could take this

https://www.youtube.com/watch?v=csB5npHO2_4

if we drop hard after fed stuff at 2pm, im just gonna laugh and buy a bunch of march spy calls around 205.

Market health using NYAD is very healthy. New all time highs in NYAD. It has been pretty predictive of forecasting declines when there's a negative divergence, so it seems reasonable it could forecast an eventual rise to new highs when there is a positive divergence as it is showing now at all time highs.

Me XMan wrote:Shorting AAPL $117

hey ho long time no see
welcome back

SPX 15m.. horizontal purple channel bound 2060 / 1994 - possible lines, possible red arrows for FOMC fireworks. Will they say anything we are not expecting?.. seems doubtful ..looks like morning gap will be filled

Al_Dente wrote:NY declining volume = 1.4x advancing volume
NY declining stocks = 1.0x advancing stocks
Either side could take this

https://www.youtube.com/watch?v=csB5npHO2_4

Ouch. Pasta, you sure know how to hit a brother where it hurts. And using Dylan no less…

Fruit having a time with that dotted blue line on 60 while the smaller time frames unwind.

Pause for awhile here. Maybe go for a run

Still trading but haven't posted much.
Long bull run is about to end IMO.
Greece is a time bomb.

Al_Dente wrote:

Me XMan wrote:Shorting AAPL $117

hey ho long time no see
welcome back

So far SPX is below all MAs I tend to look at, and seconds ago it broke below MA 13.

where is the old cowboy...

SPX

INDEX days… RUT looking weak.. possible outside candle… NDX/COMPQ < 20d/50d

pullback may have legs.

indeed another leg, now rebound this time might be a little larger.

NDX and crew

SPX possible support.. VIX resistance.../ possible messy invs H&S should it make a higher low.. … neckline still could be revised higher ..SPX..lunchtime drift up to FOMC

this rebound shall have legs if not the low was in.