Cobra's Market View

Cobra wrote:rebound so far weak, so might resume down somewhere. not sure because this is a bear call.

Could be close.I have a P Bar dn to 163.05....Lets see.

Update:

bull trap?... or triangle for the next month? some daily lines musing

Me XMan wrote:If Fed taper is coming fairly soon, I wonder if these rampings are setting up for suckers coming in.

CS published this momentum chart today. Note that they are bullish medium and long term, they don't (they never...) give an indication for short term. SPX does not look very bearish and if SPX manages to close above the 1640 level shorting the market is kind of risky...

FOMC Meeting Minutes this wednesday
Bernanke speaks

any idea what will this affect the market?

I'm pretty sure SPX will close 1638 to keep us all guessing.

uempel wrote:CS published this momentum chart today. Note that they are bullish medium and long term, they don't (they never...) give an indication for short term. SPX does not look very bearish and if SPX manages to close above the 1640 level shorting the market is kind of risky...

pressing the utptrend line.. fwiw.

It's the QE TAPER. Market wants to know when Helicopter Ben will start tapering the QE.

Zane wrote:FOMC Meeting Minutes this wednesday
Bernanke speaks

any idea what will this affect the market?

Last update for today:

range. let's wait for the range breakout first. normally downside breakout should have a little bit higher odds, but this market rarely favors bears, so I'm not sure. wait.

For those tracking the metals, GDX and GDXJ are showing extreme disparity today. Majors are down nearly 1%, juniors (gdxJ) are up 1.5%.

Unless there is a distribution skewing the numbers, this is most unusual. Rule of thumb is that it's more bullish when the junior outperform.

breakout, you know the target.

"We're never going down again!!!"

Mr. T wrote:"We're never going down again!!!"

Even Gold is going up!!!

Yery last update

getting tight between lines.. a bigger move may be near...

gimme a nice big red bar:-)

GDX drop, but GOLD, SILVER up, not sure who lead? thanks

Daniel-David wrote:For those tracking the metals, GDX and GDXJ are showing extreme disparity today. Majors are down nearly 1%, juniors (gdxJ) are up 1.5%.

Unless there is a distribution skewing the numbers, this is most unusual. Rule of thumb is that it's more bullish when the junior outperform.

Market breadth has not eroded much during the session, esp. UpDown volume on NYSE.

Semis are weighing heavily on the tech indexes, along w addl weakness in AAPL.

another possible target.