Cobra's Market View

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I see nothing. Could be either be Measured Move or at least to revisit the previous high. I'm neutral.

members only update starts here: http://www.cobrasmarketview.com/2013/09 ... ay-update/

Why is the SPY up when it opened below the close yesterday, am I missing something here, on the TOS?

BigChief wrote:Why is the SPY up when it opened below the close yesterday, am I missing something here, on the TOS?

nevermind, dummy me, it went exdividend

It's because SPY went ex-dividend.

my guess.

volume surge, previous day low, so might see rebound here first.

BigPicture wrote:It's because SPY went ex-dividend.

thanks, wish TOS updated their charts to reflect that...

Neutral.

My summation index signal is up.
My composite trend indicator signal is up.

I should be long here per the above signals but I closed out of the expiring September contract.
I will get around to realigning with the signals at some point.
I kinda would like to see how we close today with a view toward setting the position next week, but I'll let the market tell me what to do.
Also, sometimes the initial reaction to FOMC is not THE reaction.
So, watching and responding to post-FOMC trade as it seasons is what I want to do.

SPX 60m

SPX 5m.. that H&S not so sure.. but a possible descending triangle? if we make another lower high within the triangle.

forget about the guess. Now, NORMALLY, should be another low attempt but whether it'd make a new low is hard to call.

VIX 15m.. weak

volume surge, so might see pullback here first.

VIX 15m.. possible support here BB band on the daily is 12.44 at the moment

ALdaytrade wrote:http://www.cnbc.com/id/101049605

Interesting, thanks for posting. This was a surprise decision and probably not related to the FOMC decision.
I bet FOMC is worried about the replay of 2011 with USA debt ceiling stalemate and possibility of USA downgrade.
Or, maybe there are hidden surprises in Euro zone?

DOW WATCH UPDATE: (Reminder: Monday the dow will be minus BAC, HPQ, AA, and plus V, GS, NKE)

Despite all the complaints about the Dow, “if performance is the ultimate arbiter, the Dow wins”
http://seekingalpha.com/article/1692522-dow-vs-s-p-500

“The Last Thing You Should Do Is Buy The 3 New Dow Stocks”
http://seekingalpha.com/article/1694912 ... ource=feed

we are here.