Cobra's Market View

SPX 60m.. duelling hammers… between support resistance.. take out the lows… looking for 2085 / 2090

$FB new high. $twtr performing

100% mm?

SPX .. VIX a tad weak. at them moment.. little ABC up in SPX?… a tad resistance here should we fail. but seems 2108 will be tagged

Bullish Percentages are neutral - but the most important indicator BPNYA is down -0.18% and BPCOMPQ is down -0.07%

http://stockcharts.com/freecharts/candl ... BPENER|B|0

Goldman says half of the last 8 quarters S&P performance was weak because of a five week black-out on stock buybacks prior to earnings. We are there until first week in May. http://www.zerohedge.com/news/2015-03-2 ... out-period

Hi Cobra!

Does yesterday SPY candle qualifies as bearish reversal? wondering why you did not say anything or I am missing something

Update:

Anyone sees Greece is a worry in coming days?

Soros calling buffett

http://www.zerohedge.com/news/2015-03-2 ... down-drain

Junior Buffett wrote:Anyone sees Greece is a worry in coming days?

guess we will have to wait till Monday? .. ATHENS (Reuters) - Greece said it will present a package of reforms to its euro zone partners by next Monday in hope of unlocking aid to help it deal with a cash crunch and avoid default. http://yhoo.it/1CVcwHt

chetas wrote:Hi Cobra!

Does yesterday SPY candle qualifies as bearish reversal? wondering why you did not say anything or I am missing something

no, it's not. bearish reversal has to gap up, new high then red. It didn't gap up and didn't make new high, so it's just a normal red day.

my guess for fun.

SPX

internals.. TRIN moving..

.. lunch time.. caught between moving avg/trends. . 1:15 -1:30pm? . for the "bigger" move...

SPX..of course the market moves.. "when I think" it'll move later… anyhow.. possible support.. break.. could see a sharper down move..

[Reposting my charts from last night on Cobra's report comment section]

I didn’t have time to update for a week or so. Also, going to be very busy in the next few weeks and
probably going on an extended vacation again. Enjoy the updates of tonight.
Peace out

Crude Oil/ CL Update:

Hourly: Target was hit a week ago the $44-43 level. It went under
a bit more and formed a gap and go temporary bottom. Visited the 47-47.5 res
support line 3 times now since March 18.

Daily: $42 to 55 or $42 to $48.5 (daily 50sma) range bound
for now. Trade within the daily channel for swings

Weekly+Monthly: A month or two ago talked about the
possibility of the $33 extreme support level. Wanted to see a few weekly candles
to determine if realistic expectation or not. Now is the time to revisit the
monthly candle chart. Price seems to be targeting the $33 according to monthly
and weekly candle as long as we stay below $55, nothing new.

Overall: Continue to trade the bear trend within predefined
channel of $42 to $55, easy money

Charts worth a thousand words:

ES Update:

Hourly: 3 Push down since March 13 and it never looked back.
Currently tested resistance twice on hourly, no ignition candle for breakout
for the daily/weekly scale yet. Waiting for next month?

Daily: Stick saved at 100SMA since March 13, above all
moving averages again. Price is in an obvious breakout pattern with
consolidation near highs 2106~ and a solid floor at 2031-2037

Weekly: Sticksaved at 20EMA again and waiting for bull
continuation bar since last week was bull engulfing

Monthly: Sticksaved at 8EMA currently, previous month was
bull engulf so it’s just an inside month so far. Still a week left of
March...bull continuation bar next month?

The weekly breakout 100% measured move targets are around
2250 and 2280

Charts: