Cobra's Market View

A/D 464/2425

Closed shorts. This looks oversold right now.

50 about to cross the 200 VIX daily.... That could be whopper this time.

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

MrMiyagi wrote:"We're never going up again!!!"

Hey!!! THat's my line!!!

LOL

I'm thinking that 200DMA is where we're going this time.

In light of my oversold claim of 11:50, I have updated my avatar.

There is formidable support here
May high (out of bounds)
200dma (stlwater)
And the island-reversal gap support (orange bar), which held three days ago...

Al_Dente wrote:1/volatility all bear [edit: XIV is straight, all others are inverted; all bear SPY)
Lower lows (aka higher highs on straight volatility)

103all vola.png

AL: THANKS FOR ALL THE GREAT VISUALS!

AS for support, 1 week got blown through FWIW

your post of 30min SPY Renko(member site) a few days was much appreciated,

thought SPY might retest late Sept. lows and setup some bullish divergence, not seeing any SPY yet, but now IWM (same 30min renko) has some bearish divergence

bumpy ride for us bears last few days, wonder if vixie continues to lead downside for next few weeks?

GLTA and thanks for keeping this board so valuable!

ES The S&P 500 is still above its 50 day moving average as is the advance-decline line, while the Dow is below its 50 day moving average. I suspect that the S&P is about to drop below its moving average and if it does the prognosis would be for at least a drop to 1599 where the break from the September 19 top would equal the size of the May-June drop

SPX 60m... on the uptrend line from Nov 2012... careful.. we break that could get nasty...

joegamma wrote: your post of 30min SPY Renko(member site) a few days was much appreciated

Hi boss here’s update SPY renko
(it doesn’t lead…..it follows……like me……..)

SPX 60m .. possible support

double bottom target. which eventually would be sold though.

Vaamsy wrote:

fehro wrote:VIX daily.... hmmm double top?... or break out?

What do you think Fehro??

sorry I couldn't answer... but I couldn't access the site due to my internet provider had some routing issues..
Upper Red line long long term VIX downtrend.. will we reach it?.. not sure... already outside of the BB band...

s&p

if we go below 1670 then my next target would be 1666

if we go above 1674.5 then my upside target is 1680.8

I'm posting this to keep myself honest (no Monday morning quarterbacking)

rpccharts wrote:ES The S&P 500 is still above its 50 day moving average as is the advance-decline line, while the Dow is below its 50 day moving average. I suspect that the S&P is about to drop below its moving average and if it does the prognosis would be for at least a drop to 1599 where the break from the September 19 top would equal the size of the May-June drop

I show the SPY, SPX, and the /ES all below 50 day SMA.

Edit: now it looks as if the bullcrap arrow is pointing at the quoted material. That is not my intent . Oops. I apologize if I offended. I am changing the avatar.