Cobra's Market View

Long lasting Top is in the making? focus point MA 13/34 crossed, consolidation price level, and.... after 3 months of consolition it's very clear to see now that, SPY and QQQ are a failed break out, Dow is still hanging above but not so pretty after a back test of MA13, a trade back inside the yellow level is no OK. Watch the reaction after 13/34 crossed is critical in week to come.

Chart pattern hourly here doesn't look bulls friendly either.

Last leg up retacements, 50% fib still in defense mode, and intraday is clearly is a sell no divergence to be found just yet.

Here I use Fib Extensions measurement, a little to the down side is projected on all four biggies.

FAZ is a buy.

TZA is also a buy imo

Father bear is relaxing mother bear is still on the look out. all and all, it's bear family that is roaming right now.

Nice post BullBear52x. My wife has that photo on our fridge.

A few charts: http://99ercharts.blogspot.com/

And one I saw at Daneric's Elliott Wave blog: http://3.bp.blogspot.com/-DZPP15M9PUA/T ... +count.png

Bears are indeed roaming.

BullBear52x wrote:Long lasting Top is in the making? focus point MA 13/34 crossed, consolidation price level, and.... after 3 months of consolition it's very clear to see now that, SPY and QQQ are a failed break out, Dow is still hanging above but not so pretty after a back test of MA13, a trade back inside the yellow level is no OK. Watch the reaction after 13/34 crossed is critical in week to come.

Thanks, bull and bear. let's see.

SPX update: The past has been right-on, the future based on it enticing.

Unless the Bear family can't wait any loner and start the dinner...