Cobra's Market View

I have our current setup as similar to early december. the chartwork turned bearish in the first few days of december. then on the 6th, a hard rally started that lasted a day or two. shorts felt trapped but the rally was a headfake as the market turned around again and slammed down to fresh lows a few days later.

This pattern has played out several times in the past. i expect the rally over the past couple days is another headfake. well see.

Gappy, re POMO nonsense: I sincerely hope you are not Rick Santelli in disguise!

new high SPY

New all time highs.. RUT, SPX, TRANS, new yearly highs on COMPQ.... Dow lags with the VIX... 60m

vol surge, biggest bar, so might see pullback here first then we'll see.

if we don't double top here.. SPX 60m.. mind the upper trends

"It is what it is dept" report

Mid to long term is entering sell the rip zone. 2x top also.

game plan, GL.

Intraday = Buy, so one more buy on dip still.

SPX daily

pullback is larger than I thought. I'm neutral, as no guarantee it'd be bought.

SPX 5m.. possible minor H&S / or triangle

Based ONLY on the last three SPY “steps” wherein SPY moved up 2%+ after a breakout, I get a MINIMUM target for SPY at roughly 188.70.
This assumes the breakout is real and not a trap or a double top.
Also, this is “recency bias” which assumes that just because something behaved a certain way in the recent past, it will do so again this time,
which is grain-of-salt analysis……..

moment of truth for H&S... mind the open interday gap at 1843ish SPX 5m

2nd test of day high, 50% chances of reversal. I'm still in wait and see mode.

"We're never going down again!!!"

SPX 5m.. if this H&S is going to work.. gotta move now

Mr. T wrote:"We're never going down again!!!"

Apparently not!

MrMiyagi wrote:

Mr. T wrote:"We're never going down again!!!"

Apparently not!

They trying to steal my gold chains..... I'll sell them some gold colored chains instead.....
LOL

SPX 5m.. on the neckline/channel