Cobra's Market View

5 minute.

Bulls want to break SPX 1893

Flatten the curve.

Update:

3 push up. this is the 4th push up, so might not go far.

Discrepancy all morn
Dow down, all other indices up
Blame IBM (7% of the dow)
Bad earnings before the bell
Now -6.7%

Possible IHS setting up on SSO/SPY. Neckline could also be resistance. 30 min chart.

Looks as though this pattern is still viable

cobra if 3 push up , you still expect the ascending triangle to take place or is invalidated?

gappy wrote:

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Flatten the curve.

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Gappy,

So you saying that $ 4 billion QE this week will not lift the market?

Thanks

members only update at 11:32 pm
http://www.cobrasmarketview.com/2014/10 ... ay-update/

Junior Buffett wrote:

gappy wrote:

Capture.PNG

Flatten the curve.

Capture.PNG

Gappy,

So you saying that $ 4 billion QE this week will not lift the market?

Thanks

No sir, just interested in if the fed is still pushing debt out as far as it can, because they respond to the economic outlook and have lots more info than I. Read somewhere a flatter T-bill yield curve is good for stock yield investing. Really, I think our market lifts because of the sad state of the rest of the globe.

“Confused why one second the market is down 1%, and then moments later, upon returning from the bathroom, one finds it up by the same amount on negligible volume? Simple: there continues to be zero liquidity. Although, not just in equities, but in bonds as well… “.
JPM: "Market depth metrics appear to have deteriorated across all asset classes."

http://www.zerohedge.com/news/2014-10-2 ... rgan-finds

Price divergence to a rising conversion line only lasts a few minutes.

SPY volume seems to have dried up. 5 min. chart. Not sure of the implications.

uempel wrote:Looks as though this pattern is still viable

4567.png

Looks like there could be strong resistance between 1900-1905.

SPX coiling tighter and tighter.. a big move is coming.. invs H&S on the 60m.. stretching out …getting kinda messy.. should of popped already.. or on gap up this am.. VIX on support of sorts.. not clear.. but large move soon.

seems another ascending triangle or c&h so bias still up.