Cobra's Market View

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Testing Feb 1 highs (blue line), should break it.

members only update starts here: http://www.cobrasmarketview.com/2016/02 ... ay-update/

SPX opening at 1938 Feb 1-2 gap 1935-1940.. mind the morning gap. Mind bottom middle red channel, triangle bottom right.. -ish

Update on daily SPX with BB 13/1 and BB 20/2:

SPX

Gap up on ES, NQ and YM.

USD strong, crude uber strong. bear is in trouble today. lol

Hi Cobra,

Any statistics on two straight up weekly gaps? Thanks!

SPX Feb1/2 gap fill.. VIX pretty subdue .. considering SPX move ..resistance of sort near here… looking to dabble short closer to the top of the hour..

/ES -ish 5m .. possible ascending wedge or H&S.. "IF" we stall here

Watchlist for scalps: CL second touch at top, AUD.USD up, EUR.USD down, USD.CAD down.

/CL - USOil up, DXY - USDollar up… /CL back over 2008 lows 32.70

testing Feb highs, should break it at least to run stop loss.

Update:

Small caps waiting to see if they can get one of those new Chinese bank loans. Can't buy a higher high without more credit.

ave wrote:Hi Cobra,

Any statistics on two straight up weekly gaps? Thanks!

I searched last night, seems no two consecutive weekly gaps

SPY 30m… at yellow.. bears pink wedge looks toast.. they can hope for the green bearish rising wedge.. "IF" we push higher.. way way too early

Flash PMI at 51, below estimates but still above 50. So was it bad enough to be good news? So far no, and that was the only significant US number for today. I guess we will have to borrow more European bad news to drive this market up.

blue roof or new support? 1950 level would trigger buyers/kill stops for a bit......

SPX take a little nibble short… SPX 50d just 6 points higher, SPY 50d @ 195.37