Cobra's Market View

fehro wrote:nearing first support

Good call on the ascending triangle earlier.
A.

MrMiyagi wrote:So... Y'all bettin' on a gap up and run tomarrah?

hai

The smart money remains bullish on stocks. I can't find a single bearish indicator, in fact, there hasn't be as bullish of a time since March 2009. No one believes me, but eventually they will have to. The only thing bullish for the stock markets is foreign capital flight. Ukrainians, Russians, Chi...

As the Nasdaq 100 approaches a new all time high, we remain proud for sticking to our bullish guns throughout, with only the occasional doubt that the bulls wouldn't overcome a slightly more mild bout of selling here and there. The bull is alive, and we're on the right side of the trade, and contin...

I'm still sticking to the ending diagonal (which means 3 touches on the top line), before it goes down. We'll see, one way or the other.

fehro wrote:SPX.. a rising bear wedge.. one more push up within it?.. mind the orange/cyan break if not.. could see a sharp down move..

Yes, I see that too... about 203.18 on the SPY. We might have one more up, as you say, to around 206.57 (at most), then down, if our read on the wedge is correct.
GL

Sorry for the delay on this, but I did get a couple pbars this morning...here's the latest for those that follow that sort of thing....all down to the same spot.
GL,
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Job opening top 5 Million, first time since 2001!! :twisted: :twisted: Hiring rises 1.8% in December to 5.15 million, highest since 2007 :roll: :roll: Bears are doomed??? :o :o With no unkindness intended towards you (I love your charts and analysis)... 6 Words: Seasonal Adjustment Part-time Jobs U...

Job opening top 5 Million, first time since 2001!! :twisted: :twisted: Hiring rises 1.8% in December to 5.15 million, highest since 2007 :roll: :roll: Bears are doomed??? :o :o With no unkindness intended towards you (I love your charts and analysis)... 6 Words: Seasonal Adjustment Part-time Jobs U...

Closed out short at 205.10. That was refreshing! Nice to take a win on the short side for a change. Positioning for more down next week. Good weekend to all.
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Anaconda wrote:Further down than I was expecting, but a nice close out on my 2/3rds of my short. We might hit 205.10 on the SPY, before end of day. I expect more down on Monday.
GLTA.
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Sorry Cobra, just saw your mm... I'm late, but nice to have it confirmed by yours.

Further down than I was expecting, but a nice close out on my 2/3rds of my short. We might hit 205.10 on the SPY, before end of day. I expect more down on Monday.
GLTA.
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Yes, nice C&H breakout to maybe 206.66 SPY and then down. That's what my money says, anyhow.

Come on down! ...Please?

I still show a pbar down to SPY 205.60. Holding out on my short until then.
GL.
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Cobra wrote:bad news?

Maybe..."Oops, that WAS a bearish rising wedge?" We'll see one way or the other shortly.

Bearish wedge?

Pbar tgt: 203.18

Pbars = red flags for bulls, like catnip for kitties.

Looks like we might hit that series of pbars up today, after all.
GL
A