Cobra's Market View

Same internals, different view
advance/decline ratio above 2 to 1 = bulls are in charge
decline/advance ratio above 2 to 1 = bears are in charge
today = bull bias but nobody is in charge yet (chop/range)

Al_Dente wrote:Same internals, different view
advance/decline ratio above 2 to 1 = bulls are in charge
decline/advance ratio above 2 to 1 = bears are in charge
today = bull bias but nobody is in charge yet (chop/range)

The attachment 823ad_png.png is no longer available

Al_Dente, I believe the channel is in charge I'm off to the Totò now, are you coming too?

uempel wrote:

Al_Dente wrote:Same internals, different view
advance/decline ratio above 2 to 1 = bulls are in charge
decline/advance ratio above 2 to 1 = bears are in charge
today = bull bias but nobody is in charge yet (chop/range)

Al_Dente, I believe the channel is in charge I'm off to the Totò now, are you coming too?

1.png

you buyin'
edit: I meant whiskey

Cobra,

Can I request a strong Friday close? A good power hour with more up and up on ES during AHs.

Anyone take the QIHU trade? Was posting updates for a while but there hasn't been much to say about it lately....

viewtopic.php?f=2&t=897&p=127837&hilit=+qihu#p127837

This is what makes trend traders rich.

Can the 1639 be the bottom of wave 3 and now we are in wave 4 waiting for wave 5 to start?

Msft up 7% - this skews today's index peformance. Msft is in NDX, QQQ, Nasdaq, Dow industrials, SPX, OEX (and maybe Rut too )

Al_Dente wrote:

uempel wrote:

Al_Dente wrote:Same internals, different view
advance/decline ratio above 2 to 1 = bulls are in charge
decline/advance ratio above 2 to 1 = bears are in charge
today = bull bias but nobody is in charge yet (chop/range)

Al_Dente, I believe the channel is in charge I'm off to the Totò now, are you coming too?

1.png

you buyin'
edit: I meant whiskey

Yeah, I'll buy you Old Pultney 1994, matured in a Sauternes cask...

Not much happening on the pbar front ...

On swing trades, waiting for a signal long or short. Flat right now.

On day trades, been lazy lately. Usually play some gaps in the morning. Some momentum trades later.

But here is XLE ...

kind look like an ascending triangle so the bias still is up.

A close right here, on SPY, would be two closes above the (still upslope) 50day MA, and a now flattening 5day MA. It would still be below the (declining) 10day. Taken together, along with the favorable up/down volume and Adv/Dec today, the technicals are mildly bullish.

Breakdown or breakthrough?

Can we stay below the 5 minute 20EMA? It's been a buy all day - maybe it's different this time?

SPY intraday = buy the dip until it fails

Another +1% move in SLV just in the past hour. The metals are the only general asset class that is showing any movement since the morning.

What is MACD telling me?

Out of Bounds wrote:Can we stay below the 5 minute 20EMA? It's been a buy all day - maybe it's different this time?

Looking like it wants to. Bollinger bands have narrowed too.

Something of concern to equity bulls is the gradual erosion in the original recovery of two housing related ETFs, XHB and ITB. Both surged back strong after the weak new homes number, but have slowly faded since. Shrugging off the bad data would be much more bullish for the gen'l market.

Something of concern to equity bears is the VIX--and the RVX (Russell 2k vol.)--both hitting a fresh LOD.

what RSI tells me?