Cobra's Market View

Update on the weekly chart:

K447 wrote:

Junior Buffett wrote:VIX if you compare yesterday, not buying this sell off...FWIW

Buying, in which meaning?

Bears may be done for a while...

https://www.tradingview.com/x/OcT3ZbLt/

Couple of notes on AAPL's call that aren't getting a lot of attention.

1. Forex. AAPL gave up about 5% here. Big number. (I was wrong re; hedge.) [Thanks SeeMore re thoughts on currency peg— hope I didn't bungle your s/n]

5% is a boatload of money, about $4billion dollars— more than Google made all last quarter.

Dig it: AAPL loses more in the sofa cushions of currency fluctuation than Google makes in total. That's Keanu level-shit right there.

http://stratechery.com/2015/bad-assumptions/

2. From the call: Cook says AAPL will "update it's thinking" re capital returns on the Q2 call.

Noted, Mr. Cook!

From buddy Springheel Jack. http://www.channelsandpatterns.com/2015 ... report.com(My chart...his is better)

Junior Buffett wrote:Fehro,

VIX reaching 21.50..key time, if it breaks we may see big down

yup.. XIV… not sure.. holding neckline.. could chop but a defined break = ugly (pink falling wedge expanded from previous drawings)

Third time the charm?

BullBear52x wrote:Last chart. important level short term. Peace!

big reversal, dollar/yen.. right about when SPY just tried to put in a low

uempel wrote:

K447 wrote:

Junior Buffett wrote:VIX if you compare yesterday, not buying this sell off...FWIW

Buying, in which meaning?

I am trying to convince my mind to find a spot to go long!

SPX

eem probing for fresh LOD here..

Internals.. slipping slowly SPX.. NDX flattish..

eem new LOD.. and generating a p-bar in the process up to 39.95

Daniel wrote:eem probing for fresh LOD here..

not the only one...

grandeG wrote:Bears may be done for a while...

https://www.tradingview.com/x/OcT3ZbLt/

Rebound seems a little weak. Maybe one more push down?

The Dow and its heavyweights
Dow broke at triple bottom, and broke the neckline of an H&S (depending on where you want to draw the neck)
All eyes on Visa (V) after hours; earnings expected at $2.49
Visa is currently 9.2% weighted in the dow so IT WILL move the market
Note V (pink candles) also has a H&S which broke neckline two days ago

big upmove, on greatly elevated volume, today in the homebuilders (itb, xhb)

Xian wrote:Uempel's BPs looking like all kinds of crap

Don't blame the BPs, BPSPX has been down for two days now, BPNYA is neutral/positive. Problem is the currency discrepancy. Big global companies (exposed to EUR) in SPX are showing weak results (except apple), small caps in NYSE are more focussed on the US and less exposed to currency volatility.

will GOOGL earnings break range?.. mind the huge open gap at just below..