Cobra's Market View

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I don't know what pattern it is, so I'm neutral. Sharp pullback here would be bad though as it's the 2nd test of the rebound high since 04/13.

members only update starts here: http://www.cobrasmarketview.com/2014/04 ... ay-update/

Vote Cobra glta

Daily. Inverted h/s? Nah, probably not.

Have just posted my FOMC Turning Point Preview.

Since 2007, there have been 9 other weeks where the FOMC and employment report were in the same week .... and there were a lot of MAJOR TURNS too....

http://www.cobrasmarketview.com/2014/04 ... ay-update/

-D

Denali92 wrote:Have just posted my FOMC Turning Point Preview.

Since 2007, there have been 9 other weeks where the FOMC and employment report were in the same week .... and there were a lot of MAJOR TURNS too....

http://www.cobrasmarketview.com/2014/04 ... ay-update/

-D

Thanks D! Always a ton of great info in your reports.

Denali92: Thank you.
I googled "FOMC Turning Point Preview Denali" and was able to read your analysis.

vol surge, could mean rebound, then we'll see. overall, very boring day.

Neutral. No position. Worked on other things yesterday.

My summation signal is neutral.
My composite trend signal remains up. Remarkably, all 3 of the critical trend indicators are down!
So, if enough weakness were to evolve in the rest of the model, the next signal would be down and not neutral.

I want to buy trends that run for awhile, and my models are set up to signal possible candidates.
Appropriately given recent trading, the signals are experiencing funk and neutrality.
So, I am spending more time shopping elsewhere for now.
This environment will clear, perhaps soon, and I'll engage.
Sometimes the trend that comes out of a swamp like this is not particularly juicy but it sets up a rhythm for good ones to follow.

I believe today is Tuesday. I read the market is always up on Tuesday. Whatever works.
eumpels ellipse signal for tomorrow may be a goer. Not only is there FOMC but also ADP and GDP. Alphabet soup is on the menu.

SPX 15m into yellow trend line again

SPX 60m

VIX 15m trying to hold support looks weak

100% mm.

Mr. BachNut wrote:Neutral. No position. Worked on other things yesterday.

My summation signal is neutral.
My composite trend signal remains up. Remarkably, all 3 of the critical trend indicators are down!
So, if enough weakness were to evolve in the rest of the model, the next signal would be down and not neutral.

I want to buy trends that run for awhile, and my models are set up to signal possible candidates.
Appropriately given recent trading, the signals are experiencing funk and neutrality.
So, I am spending more time shopping elsewhere for now.
This environment will clear, perhaps soon, and I'll engage.
Sometimes the trend that comes out of a swamp like this is not particularly juicy but it sets up a rhythm for good ones to follow.

I believe today is Tuesday. I read the market is always up on Tuesday. Whatever works.
eumpels ellipse signal for tomorrow may be a goer. Not only is there FOMC but also ADP and GDP. Alphabet soup is on the menu.

BachNut, I always enjoy reading your careful assessment of your indicators. Thanks. Here a look at the signal on the 60 min chart which suggests a break of the recent consolidation in the 1850 range.

I have a slightly bullish bias - but perhaps it's going to be a mere trap. Very difficult to assess.

my guess for fun as it's too boring.

Not sure how to approach this situation. A part of me says I got stopped out on some super rare headfake and I should get back in soon and ride it up to the upper bb as per usual.

target met. it might still have legs so forget about my guess.

See, here's the thing. The daily SPY MACD bullish cross (using my cocktail of rules) is 30-3 since 2006. I called the most recent one last week a fail...but let's set that aside. The other 2 "failed" but they both occurred when price was already at the upper bb. So if I add one more rule to ignore the buy signal when price is at the upper bb, the signal suddenly is 30-0....until what happened last week.

So maybe it was all just a headfake the past few days and we are about to race to the upper bb??

Trend following on a daily setup, simply using %B could help a buck or two.