Cobra's Market View

the usual pattern. we'll see.

USD broke key support.

BATTS broke at 11:27 Eastern, yet again.
Forgot the link- sorry
http://www.zerohedge.com/news/2016-02-0 ... y-disabled

20 pts range without direction,

SPX D/60m.. that hourly *Candle is pretty ugly.. 12m to go..

ES tested the Globex high by coming within 2 ticks of it.

SPX.. messy sloppy H&S.. 5m.. should we hold and bounce again… not sure.. hourly ugly.. but support as well horizontal support

rebound as expected. always give bulls more credit, not fair but it's reality.

Short 191.60. This bump seems weak.

swing bull most likely over. 1945 seems a bridge too far for bull without much intraday momentum. the best scenario for bull to break 1945 is to consolidate around HOD till the end, and hope for tomorrow big gap up. well, unless yesterday afternoon once more.

Daily SPY:

we reached 61 consecutive days without approaching the upper bollinger band. But the upper bb is rapidly falling and SPY will need an immediate drop or the upper bb will approach price and end this run. Price has gone nowhere for about 3 weeks (just some high volatility), allowing this setup. My expectation is this is an ABC correction (since most are). We could have entered wave C down. Perhaps a retest of the lows is next. Wave C is an attempt to double bottom but it could stop short or exceed it. The focus will be to try to pinpoint where wave C down ends because that's likely the big run.

Out of Bounds wrote:

Capture.PNG

WHIPSAW

SPX could morph into a triangle.. orange/cyan .. for chop till near end of day.. then move.. or as per usual.. gap it…

brokebybernanke, here a time signal on the 1 min SPX. Of course signals on the 1 min are much more precise than those on the daily or weekly Signals on the 1 min might be off by a few minutes, on the 60 min by an hour, on the daily by a few hours.

This is not a trend like I was expecting, bulls are weak but not out. I update my chart just to show the cluster.

uempel wrote:brokebybernanke, here a time signal on the 1 min SPX. Of course signals on the 1 min are much more precise than those on the daily or weekly Signals on the 1 min might be off by a few minutes, on the 60 min by an hour, on the daily by a few hours.

2.png

perhaps another squeeze run like yesterday.

Wedge?

Out of Bounds wrote:Wedge?

Better lines on this one