Cobra's Market View

QQQ looks like it wants to tag that outstanding P-Bar.
Good shot to get it done today.
Visually, it looks like downside moves have been necessary to build enough of a short pool to put gas in the tank.
Suggests a lack of natural buyers. Failure to hit, which seems unlikely from here, I guess would be bearish.
This is all idle lunch time nose picking on my part... so don't put much into it.

I think there is one more P-Bar above that doesn't show on my screen.

MrMiyagi wrote:

uempel wrote:Cobra, my suggestion for your new tag: the lady looks serious and inspires confidence - those are the qualities visitors to your great forum want to see too

Could....not....resist......

lol... or maybe this one :

daytradingES wrote:

joegamma wrote:interesting re Yellen confirmation...wonder if she needs to hint at positive underlying economic strength to get confirmed?
meaning that she may not talk up more/ longer QE since Congress may hold the vice-chair accountable for economic weakness.

still bearish intermediate-term, nyad , vix, falling momentum in Nysi, leans bearish but maybe not today or tomorrow or friday

What about if she needs to show she is the same bigbankbooster pump-it-up-pump-it-up as bad bennie?
who heard of anyone in politics being accountable?

GOOD POINT. guess naive of me to think Congress members up for re-election would pander to their voter base (FIRST, get the funding, next jockey to leave public service, then get the 7 figure lobbying gig.....)

good h2.

SPX 5m

100% mm.

Index 5m

A few comments about the MO.

1. The MO has basically gone flat the last few days.
2. It is soon to hit a declining trend line. So, the consolidation we have been in is likely to break soon (at the eumpel signal?).
3. The MO has not dropped far enough to reach a level consistent with typical cycle lows.
4. That doesn't mean it can't break upward back to the zero neighborhood before moving to set a bottom. It could also decide to be atypical and bottom where it did last Friday.
5. If there is a recent analog to current affairs, it would be the cycle labeled 2, where indexes did not peak until 16 days following the MO peak. While the analog would suggest an imminent move down to finish the cycle, I am inclined to take the view that this is another data point to suggest that the consolidation we have been in will end soon.

Mr. BachNut wrote:QQQ looks like it wants to tag that outstanding P-Bar.
Good shot to get it done today.
Visually, it looks like downside moves have been necessary to build enough of a short pool to put gas in the tank.
Suggests a lack of natural buyers. Failure to hit, which seems unlikely from here, I guess would be bearish.
This is all idle lunch time nose picking on my part... so don't put much into it.

I think there is one more P-Bar above that doesn't show on my screen.

QQQ P Bar 2.jpg

Done. Does anybody know if there are any outstanding upside bars left?

Mr. BachNut wrote:

Mr. BachNut wrote:QQQ looks like it wants to tag that outstanding P-Bar.
Good shot to get it done today.
Visually, it looks like downside moves have been necessary to build enough of a short pool to put gas in the tank.
Suggests a lack of natural buyers. Failure to hit, which seems unlikely from here, I guess would be bearish.
This is all idle lunch time nose picking on my part... so don't put much into it.

I think there is one more P-Bar above that doesn't show on my screen.

QQQ P Bar 2.jpg

Done. Does anybody know if there are any outstanding upside bars left?

The one to 2000 SPX that I dreamed about last night........ it's not real?

Mr. BachNut wrote:

Mr. BachNut wrote:QQQ looks like it wants to tag that outstanding P-Bar.
Good shot to get it done today.
Visually, it looks like downside moves have been necessary to build enough of a short pool to put gas in the tank.
Suggests a lack of natural buyers. Failure to hit, which seems unlikely from here, I guess would be bearish.
This is all idle lunch time nose picking on my part... so don't put much into it.

I think there is one more P-Bar above that doesn't show on my screen.

The attachment QQQ P Bar 2.jpg is no longer available

Done. Does anybody know if there are any outstanding upside bars left?

Nevermind. Here it is 83.01. A few pennies yet.

SPX 60m pressing the highs trendline

Broke the ellipse to the upside. Unless it's a trap SPX should move higher - check that small inverted H&S too.

QQQ target hit.

SPX 5m... a mere 3 points away from the all time highs 1775.22

MrMiyagi wrote:

1961.png

How many remain open?

lunch time, will be back.

wait h1 or h2 to long. if pullback is not sharp then h1 is enough, it requires a little experience.

INDEX 5m... SPX near new highs.. everyone else.. not so much...