Cobra's Market View

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No idea up or down, need see more bars. market could be waiting for tomorrow's NFP report therefore narrow range day today.

members only update starts here: http://www.cobrasmarketview.com/2016/03 ... ay-update/

SPX 20w 1995.86 to the upside, 50d *1938.79. Rising wedge on the SPX, US dollar, and OIL today.. if they break.. all down

DXY testing 50d, 98.044 ..

/CL - USOIL mind the 50d at 32.12 measured move of the red bearish rising wedge 60m W/D/60m

fehro wrote:SPX 20w 1995.86 to the upside, 50d *1938.79. Rising wedge on the SPX, US dollar, and OIL today.. if they break.. all down

VIX bullish falling wedge fwiw. very messy on the 15m.. better on the 60m… but seems we still need one more trip down the wedge.. not sure. SPX open gap 1985-88

8:09 AM 3/3/2016

the market is sitting sideways at the top
o/n pushed slightly above Y high - 3 pts
and was narrow -9.75

une numbers were +6,000 vs expectation -2
PMI marginal lower etc.

The marekt seems to be at a standstill.
The RORR ridiculous oil rumour ramp seems to have petered out.
the agreement - contingent on Iran agreeing - is no agreement at all
It's like saying
"well we've have been producing at all out maximum and if the moon turns to blue cheese, we'll not increase further - even though we can't anyways"

China continues to push out contraction PMI..

Orange lines are the auto estimates but I'm going for "top is in and lower"

----
Levels 03-Mar
Breakout= 1994.00
BuyStop= 1987.50
Est High= 1983.50
Resistance= 1993.25
6pts<High= 1977.50
SABB= 1973.50
Est Mid = 1974.00
6pts>Low= 1969.25
Est Low= 1963.25
Support= 1956.25
SellStop= 1959.25
Breakdown= 1914.50
Est H-L dif= 20.25

chart ES 30 min

EMA 377 quite good at interfering with bullish runs. But Bullish Percentages are up and show no sign of turning to the downside. As long as BPNYA is positive the market rebound has not topped and the bias is bullish

http://stockcharts.com/freecharts/candl ... BPENER|B|0

“The Committee On Banking, Housing, And Urban Affairs Subcommittee On Securities, Insurance, And Investment”
meets in a hearing on “Regulatory Reforms to Improve Equity Market Structure.”
Live here now:
http://www.banking.senate.gov/public/in ... -structure

SPX .. barely hanging on.. last hourly not so pretty

Should MA 377 be broken there is good resistance up at 1994ish. And there is a time signal for tomorrow's opening too

Starting to scale in shorts to hold over the next few days. Taking advantage of these rips.

Gold on a run up ...

fehro wrote:DXY testing 50d, 98.044 ..

looses 50d.. wedge testing/breaking.. on it.. under it.. mind 20d/200d convergence just below

looks like sp will have to approach that 2000 level for vix to bounce off longer trendline (16s) and greed to get greedier (80 would be nicehttp://money.cnn.com/data/fear-and-greed/) ...

DOW 30 ...

CAT a leader, MCD a laggard.

Caterpillar and Mickey Dee.

fehro wrote:/CL - USOIL mind the 50d at 32.12 measured move of the red bearish rising wedge 60m W/D/60m

no wedgy breaky.. *yet