Cobra's Market View

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ascending triangle? If bulls are able to test the blue line above again, a breakout is likely.

members only update starts here: http://www.cobrasmarketview.com/2015/05 ... ay-update/

SPX mind the trends and gaps.. yesterday's morning to the upside.. 2100 to the downside

"Unless the growth data is revised to a show a contraction of 1 percent, the market will not be too surprised," said Jeremy Stretch, head of currency strategy at CIBC World Markets. "Any dip in the dollar will be a good entry level to go long, given we are still expecting some good payrolls numbers next week."Vote Cobra. glta

SPX ... cover portion of yesterday's shorts .. here

10 minute. Fractal.

INDEX days.. RUT testing 50d , TLT gaps up over it's 200d.. SPX near 20d.. takes it out.. looking for 50d ... gold moving

gappy wrote:10 minute. Fractal.

Capture.PNG

If that's true... now we can expect a power sell-off!!

quientuves wrote:

gappy wrote:10 minute. Fractal.

Capture.PNG

If that's true... now we can expect a power sell-off!!

History can rhyme, but que sera...sera.

RUT takes out 50d.. 20d next.. SPX close to 20d..

Oops, posted in yest thread

Unique wrote:Lots of easy money breakouts today, TSLA + NFLX. Ride it till it dies. It's Friday monthly closing boys.
Picture perfect weekly candle would be TSLA 258-260 major res, and NFLX need to hold well next two 15min bars

SPY below yesterday's low which was support from early Wednesday.

SPX possible support.. but looks weak.. VIX lags a tad intra day.. no new highs yet..

S2 was 211.28

INDU takes out both 20d/50d

So much for a boring day...

Yes, past tense for S2. All of the bad news today must actually be bad, unless the plan is to bait the bears until the Friday Jobs report next week.

Today should remove all doubt. This is definitely a correction now.

VIX testing 3 week downtrend.. covering shorts here.. leaving a small portion to run