Cobra's Market View

this bear may have legs. honestly, back to back downtrend days are very very very very rare nowadays, so suppose at certain point we'll see sharp V reversal today?

Update on SPX 1 min:

Trades with cats wrote:Can we sit on support till London closes?

"support' and 'sit" may need redefinition.

Yes we sure fell out of that last zipper. But the real point is that so often the bulls move soon after Europe closes. How they will do it is a good question. Yen, oil or VIX?

Time to reverse again so to lo pos. Div.

Looking at recent moves initiated when red cycle was due ....

spx long 2055 (support area/gap closed/ma50)

Hi TWC, I know you have mentioned it before, but what happens after London closes? Does the US market rally or go down for the rest of the day? Thanks.

Trades with cats wrote:Can we sit on support till London closes?

SPX tends to stay in the rhomboids. An exit out of the rhomboid is always meaningful - or a trap

SPX nibble tiny long.. so close to the 50d.. "should" tag it..

Not my idea, as I am not an original thinker. It frequently shows up on the end of the day wrap up at Zerohedge where they label the chart with arrows for the major trends of the day. Usually it marks a reversal of the morning trend. It is consistent, but not absolute.

So London has been closed for 10 minutes and my system has generated a weak buy signal. The low of the day was ten minutes before the close. Just something else to watch for every day like opening 15 minute fake out, Cobra's after lunch counter trend move and the big persons hour at the end of the day.

And we are weaker again on the Thursday before opex week....

http://www.cobrasmarketview.com/2016/05 ... ay-update/

At the link are some thoughts on the bottoming possibility for today, as well as some early May opex period info.

-D

supporting area is thick here, for counter trend, but you know counter trend is for the hero.

hmmm. bear flag, head and shoulders, and sitting again at the 50, my temptation is to say after brief bounce we will see the 200 dma really fast, but bulls whip so hard, could keep extending flag forevah....

Update:

Update