Cobra's Market View

Institutional accumulation and distribution from stocktiming shows a little divergence, as NYA made a new high but the institutional distribution isn't at new low yet. This is just minor problem for now.

II and AAII.

The chart I'd like your attention this week is here: https://stockcharts.com/public/1684859/ ... /271279804

Cobra, thoughts on the euro here? It made a new low and then closed green above yesterday's close on higher volume - interpret that as a possible reversal candle?

Thanks! Hope you're enjoying your weekend.

Cobra wrote:The chart I'd like your attention this week is here: https://stockcharts.com/public/1684859/ ... /271279804

After seeing the chart, I immediately voted for you again
Again thanks for your amazing TA skills!

Cobra wrote:The chart I'd like your attention this week is here: https://stockcharts.com/public/1684859/ ... /271279804

Just one comment regarding this chart. this indicator didn't work that well in the past, e.g. between 2003-2007. I did not check other time frames.
Cobra: your thought?

Inverse H&S on $BKX weekly? But daily looks a little extended (RSI and MFI)

If you are interested in Gold as long term (beyond few weeks/months) investment, here is one way to identify buying opportunity in gold.
Per author, a buy signal is possible in next days and weeks
http://advisorperspectives.com/dshort/g ... -Again.php

wayne0708 wrote:

Cobra wrote:The chart I'd like your attention this week is here: https://stockcharts.com/public/1684859/ ... /271279804

Just one comment regarding this chart. this indicator didn't work that well in the past, e.g. between 2003-2007. I did not check other time frames.
Cobra: your thought?

I knew but I think it's more important that it worked recently.

vikasrao wrote:Cobra, thoughts on the euro here? It made a new low and then closed green above yesterday's close on higher volume - interpret that as a possible reversal candle?

Thanks! Hope you're enjoying your weekend.

Short-term rebound first, then we'll see.

I now have gold, oil, bond and dollar update regularly in my public chart list in the first page, be sure to check them frequently.

wayne0708 wrote:

Cobra wrote:The chart I'd like your attention this week is here: https://stockcharts.com/public/1684859/ ... /271279804

After seeing the chart, I immediately voted for you again
Again thanks for your amazing TA skills!

Update on my big picture chart:

The trend is up.
New trend highs (dark green horizontal) have been made.
The lavender ascending wedge has been pierced to the upside. It could be an overthrow before a move down.
It does look like the NYA wants to make a new bull market high (the light green horizontal line), and I think it may do so next week.
We are also close to the upper end of the rising channel. So, positive but the air is getting a bit thin.
As Cobra says, revisit to old highs is important. So, key time.
The Elliott wave barrier to signal new all-time highs (or not) is coming into view and probably heralds some resistance/turbulance.
The dangerous rising red third fan line is not a factor at the moment.

Bottom line for me is that the action is bullish but reward/risk ratios are getting questionable.
I can see rising resistance above and plenty of room below even with the trend staying intact.

My view at these moment, with some possibility of an minor correction ahead before making new highs

This add-on mid-term chart to Cobra's excellent weekend update has some credibility during the past. My trading systems for short-term and mid-term also show at least several days of pull-back starting early next week.

Summary of the week's stock picks. All had a breakout, no surprise though as market was up huge.
viewtopic.php?f=10&t=779&p=112322#p112322

Stock picks for the next week: viewtopic.php?f=10&t=787&p=112324#p112324

Fear spike look

many people are looking for the dip of 470, well, what about 333.3?

see the neck line highlighted here.and this TA 101

Dont know if it is intentional but one two of the charts have indicators which arent named and so dont mean much to me.

edit ok I found this one:
http://stockcharts.com/h-sc/ui?s=$USHL5 ... 2768701632

BullBear52x wrote:Fear spike look

Thank you Sir! As always, great stuff!