Cobra's Market View

Looks like we just completed the E wave of the triangle. This may get ugly.

60 min MACD getting ready to cross to the upside

Cobra wrote:leg is a very vague concept, although I believe this is the 2nd leg down already but if you don't agree, you might be right.

I agree. The second wave bounced off the VWAP.

Hourly MACD on SPY reversing towards the upside

I use the VWAP for intraday trades. It serves as confirmation – as long as SPY is trading above the VWAP, I usually give the rally the benefit of the doubt. If it crosses the VWAP to the downside, I will short with a stop at the VWAP (it’s amazing used as support/resistance). Use it on an intraday ...

ok, breakout as I said. here's 100% measured move target. I've only been watching you for a few weeks, but from what I've seen, you are absolutely ridiculous at analyzing the market. Do you put any weight to what the VWAP is doing? Nice call yet again! I read only chart pattern so, no, I don't pay ...

I meant ridiculous in the "absurd" sense of the word b/c he is right so much. Hence the last sentence.

Cobra wrote:ok, breakout as I said. here's 100% measured move target.

I've only been watching you for a few weeks, but from what I've seen, you are absolutely ridiculous at analyzing the market. Do you put any weight to what the VWAP is doing?

Nice call yet again!

BullBear52x wrote:There will be little fighting here MACD hourly about to cross on SPY.

MACD on daily crossed to the upside though. Which one usually wins?