Cobra's Market View

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Measured move down, not sure if the down leg was already over or not as it's Fib 61.8% mm already. wait and see.

members only update starts here: http://www.cobrasmarketview.com/2015/09 ... ay-update/

SPX mind Tuesday's open gap... lower trends. VIX could launch up sharply *2 week bullish falling wedge. Careful.

SPX stalling. went short.. looking for gap fill

worth watching gold/oils... USD at neckline of H&S 60m.. "could" see sharp drop in UUP, USD ... or still need one more day, one more "RS".. to make it "symmetrical

TRANSports strong, green.. held 20d at LOD... TLT holding 50d

Market back to hard money setups as expected from last night's post after being spoiled for two days.

Looking through my basket of tech stocks, I'm merely seeing Tier C setups at best. That means they are low probability and not great R/R setups. Like this AMZN setup that I'm seeing right now with 522.5 and 525.5 targets

ES is pretty much stuck if you look at hourly chart. Needs to get above 1946 or below 1928 to make things happen. No need to overtrade on hard money days, gotta protect profits. Cash is king

SPX

ES looking for 1955 no brainer target

Is SPX starting its 3rd rebound now?

So back up to 1980ish?

SPX .. into resistance of sort.. hourly... looking bullish.. need to see next hour... but small short. here

Surprise surprise!
ES got to 1955 no brainer target. The real question is can we above/around 61.8% = 1967.5 to negate the bear 1993 double top scenario of yesterday?
After all, bulls are pretty strong since it didn't even reach my 1920-1925 trendline support yet. Daily Higher Lows still intact.

61.8% sell

SPX .. bulls see minor invs H&S yellow... bears.. see the open gap * also possible descending wedge.. should we chop slop lower

vol surge, could be a rebound here first then we'll see.

Somethings not right. ES and TF are much more in sync today than the last several. And this run up had the machine look to me. Could it have been another blast of buy back money ?

fehro wrote:worth watching gold/oils... USD at neckline of H&S 60m.. "could" see sharp drop in UUP, USD ... or still need one more day, one more "RS".. to make it "symmetrical

ding ding... USDOLLAR drops... golds pop