Cobra's Market View

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The blue line above has been tested many times, with constantly higher low, so another test would definitely see breakout. I cannot say the chart pattern bearish.

members only update starts here: http://www.cobrasmarketview.com/2013/07 ... ay-update/

another day, another gap SPX 5m with some channel lines..

Morning Hightower blurb for crude. GLTA.

Internals are about to cross the 0 line to the bear side

fehro wrote:another day, another gap SPX 5m with some channel lines..

Sleep tight, your banksters stand guard the night.

possible triangle SPX 15m... if we don't make new highs today..

Liquidly is still in the upper quadrant. As long as liquidly remains up the mkt will try to creep up.

Cobra, both TLT and gold are down big. Does that imply something about Fed decision? Is it contradictory to what is going on in the stock market?

kind looks like a triangle, so the bias is a little up.

Neroli wrote:Cobra, both TLT and gold are down big. Does that imply something about Fed decision? Is it contradictory to what is going on in the stock market?

bond market has been preparing for QE to end.

stock market usually pretends nothing would happen for awhile before reality kicks in for sometimes. It's called Inertia.

Neutral. Just sittin' on the dock of the bay.

My summation index signal is neutral. It is poised to turn down if daily lows are solidly broken.
My composite trend indicator signal is up. It would take a day or two of body blows to turn.

The trend is up. So, I assume more up, but at this stage of the rally, I don't have a setup to jump in. I think the heart of the move may be done.
I do have summation index setups that could get me short on a breakdown, but it needs to be a real breakdown, not a news event algo spike thingy.
So, I'll watch and let this FOMC day sort itself out.

If chart repeats the strong stocks will start up and weak stock will get better. Looks like last Fri. low is going to hold. If this holds true the mkt should break out and head to 1700 then we can see 1730/40 before any heavy dn move. My trading is green with some light shorts. Lets see.

CHK breakout is looking good.

AAPL just tested the 2 month high and is being rejected. See if it consolidates here.

still is triangle, only bigger, so the bias still a little bit on the upside.

OT.

The longer I am on this board, the more I appreciate how truly prophetic Cobra's avatar is.
Though, Kena's captures how I feel about the state of affairs...

Another back up for an up move is the Shanghai. Look at the RSI and STA. these have been edging up and if they continue the Shanghai will have a big break out and the rest of the world will go up with it.

Mr. BachNut wrote:Neutral. Just sittin' on the dock of the bay.

My summation index signal is neutral. It is poised to turn down if daily lows are solidly broken.
My composite trend indicator signal is up. It would take a day or two of body blows to turn.

The trend is up. So, I assume more up, but at this stage of the rally, I don't have a setup to jump in. I think the heart of the move may be done.
I do have summation index setups that could get me short on a breakdown, but it needs to be a real breakdown, not a news event algo spike thingy.
So, I'll watch and let this FOMC day sort itself out.

Imagine the damage from the cartel collapse in hypothecated credit swaps or Uncle the petrodollar Buck as such occurred in the potash pool yesterday. Dry powder will be valuable to sprinkle on the fire.