Cobra's Market View

spx broke out of triangle, but I wonder if it sticks, still hoping for a wave 5 of (3), means more down this week....

Edit: new chart..

50 Day SMA at 1371ish... would expect a least a tag of it.. as we are so close

testing intraday high, another key time.

breakout, but shy of my target, bulls need do more.

just don't forget the big picture still looks like a bear flag.

Cobra wrote:just don't forget the big picture still looks like a bear flag.

Any odds on going for a triple top?

That bear flag can break to the upside in a hurry.

Lots of new bears to crush.

My lead man says it's ripe once again.

BullBear52x wrote:My lead man says it's ripe once again.

????? What you mean BB52x?

messy chart.. close up of 60m... 1390? or Pink retest? prior to heading to 50 Day SMA 1371?

IWM: Follow up of the short term EWP

Mr. T wrote:

BullBear52x wrote:My lead man says it's ripe once again.

????? What you mean BB52x?

intraday over bought, wait for intraday sell signal to sell if no new low this time the dip buyers will move in or I would expect a move to retest 5dma which sit at 140ish. lets see the day is still young. new sell signal should kick in in 15min or so.

not a bad consolidation for bulls.

i think the market is going up a little bit. es 1386-88 area could be the target. what i am not sure is pull back a little bit or go directly from here.
i like the scenario to pull back to 75-76 then going up

Hi Cobra:
I was just wondering if today is a good long setup. I know you have mentioned before about high winning rate considering VIX up 6 days straight and today may be 7th day and vix has jumped out of upper bb today I think.
Let me know if that play s still on the table.
Thanks,

talking VIX... broke above couple trendlines, but yes outside of the BB bands.

bears need to take out new LOD or it means nothing to me, no good sell unless new LOD is taken out.

Nice vix chart!

Dollar via UUP, could have more upside before down...??

Trading small long against the trend here.

kissing