Cobra's Market View

Two SPX daily charts show support ...

I guess most people are watching the hearing in D.C. - nobody trading except some bots programmed to stay put

Junior Buffett wrote:

uempel wrote:Checking SPX daily:

AA.png

Interesting, so which one will work? you last chart or this one..coz both are contradicting..sort of

Weekly versus daily, not often hand in hand.

Al_Dente wrote:Note ORCL
wow
ATH
it’s in the OEX; too bad it’s not in the dow

ORCL banged into upper prongs of two Andrew's Forks. Most likely: short term too late to buy.

Checking SPX daily:

Resistance by a huge ellipse on SPX weekly:

Bullish Percentages flat:

http://stockcharts.com/freecharts/candl ... ,$BPENER|B|

SPX daily still in the channel which goes back to November 2016. SPX didn't want to exit these last few days.

Close up of SPX daily (previous chart with Trump rally channel)

A few days back: Ellipses' time signal on SPX daily pointed to yesterday. Most likely my drawing was imprecise, because yesterday saw no good move.
As to today: SPX at channel support on the daily:

Last chart ...

Bye guys, too boring for me. I was expecting more action today

Bullish Percentages more or less flat - a slight bullish bias:

http://stockcharts.com/freecharts/candl ... ,$BPENER|B|

Green channel ...

Update - extremely small moves generated by the ellipse time signals ...

uempel wrote:Something ought to happen but so far the second signal on the 1 min looks like ...

The attachment ddd.png is no longer available

Close up shows the time-signal moves - but it's not an impressive show today.

Something ought to happen but so far the second signal on the 1 min looks like ...

Ellipses providing good information here. All blue ellipses are the same size. Note that channels give information on the y-axis, whereas ellipses tend to give us signals on both the y-axis and the x-axis (this is an oversimplification but the info is more or less correct).

Not very helpful:

Ellipses on SPX daily point to a good move either tomorrow or next week. These time signals don't offer any indication of the direction, it's either up or down (and sometimes it's a dud )

Yesterday's Zig-zag suggested that today might be bullish ...