Cobra's Market View

http://www.youtube.com/watch?v=GqH21LEmfbQ

Watching ES, this song keeps playing in my head.

quatzl wrote:http://www.youtube.com/watch?v=GqH21LEmfbQ

Watching ES, this song keeps playing in my head.

I know what you meant, internals= bears

triangle here may mean more down.

I'm not sure how important this 11:00 a.m. cycle is...

uempel wrote:I'm not sure how important this 11:00 a.m. cycle is...

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Thanks, I smell something too.

Come on bears, look at europe ready to plunge!

While everyone sitting on their hands, here is simple set up on hourly chart on /ES nothing to be bullish about.

Descending triangle
Bulkowski says it breaks downward 64% of the time

No fear, too many in the media pumping the the market, and everyone just seems to be bullish... Wouldn't be surprised to see a close of the gap and a push up to make a positive market into the week-end. Buy the dip mentality is still too strong, again, no fear.

Bears are going back to hibernate...

RealMoneyIssues wrote:No fear, too many in the media pumping the the market, and everyone just seems to be bullish... Wouldn't be surprised to see a close of the gap and a push up to make a positive market into the week-end. Buy the dip mentality is still too strong, again, no fear.

Bears are going back to hibernate...

I was thinking same thing yesterday, but closed some calls, blew out rest this opening (horrible lever at first)
LOOK AT HOURLY CHARTS FROM 4/9-4/15.....we might close at lows today and it will be a good "tell" if intraday buyers are too reliant on pomo activity...
support spys near 16340/50 area, GL

joegamma wrote:

RealMoneyIssues wrote:No fear, too many in the media pumping the the market, and everyone just seems to be bullish... Wouldn't be surprised to see a close of the gap and a push up to make a positive market into the week-end. Buy the dip mentality is still too strong, again, no fear.

Bears are going back to hibernate...

I was thinking same thing yesterday, but closed some calls, blew out rest this opening (horrible lever at first)
LOOK AT HOURLY CHARTS FROM 4/9-4/15.....we might close at lows today and it will be a good "tell" if intraday buyers are too reliant on pomo activity...
support spys near 16340/50 area, GL

I would agree that the technicals are showing weakness in some areas of the market, but overall it is a mixed picture. Besides, on a longer term basis (I am not a day trader), the technicals have been horrible predictors of the markets for the better part of 6 months. It would just be easier to buy, buy, buy and just have a trailing stop (wish I had done this, I would be up 50% instead of 10%).

No POMO today, yet we are still crawling up on low volume. I guess only time will tell.

"Here black swan, here, here, black swan"

Bear Flag?

testing the morning high (range high), so still nothing to say but wait.

REMEMBER no POMO today!

so there is not that extra juice to kick in....

only 3 other days without POMO - May 1st (down big on IWM),
May 3rd - Employment day where we jumped but then faded from 10:30am when there was no POMO
May 13th (candle so far looks very similar to today)

The market is conditioned to making lows no later than 10:30 am thanks to POMO - so it will be interesting to see if this bounce fails.

-D

I got my evil hat on, let see how many handles will I get from 1641/es

BullBear52x wrote:I got my evil hat on, let see how many handles will I get from 1641/es

turn that UP BB please, http://www.youtube.com/watch?v=2pOl8MlVveA

Day three of VIX piercing the upper bolinger (20/2)
Usually, not always, after printing a “black filled bar” like yesterday, the VIX eases back down a bit…..

some subtle difference in outcome when vix stays within prior black candle , hints at more vix up next few days?
http://stockcharts.com/c-sc/sc?s=%24VIX ... 1957&r=626

joegamma wrote:

BullBear52x wrote:I got my evil hat on, let see how many handles will I get from 1641/es

turn that UP BB please, http://www.youtube.com/watch?v=2pOl8MlVveA