Cobra's Market View

fehro wrote:...may see a good move in oil.. it's coiling in a triangle of sorts

Fehro, here is my analysis of USO. It is very sophisticated.

Its 5day sma is 14.62, and it currently trades at 14.64; hence it is a buy.



Next stop, 8day ema at 14.67.

One could get brain fever like a character in a Dostoyevsky novel if they over-analyze this market. However, if you are right, then USO/CL will have to knock out these simple MA resistance points first...

GOOGL 665 first target has been fulfilled. If you don't take some off here, then that's pretty greedy.

I'm still trailing some TSLA calls from yesterday and holding 50% size left for GOOGL. Good luck everyone!

People say an apple a day keeps the doctors away, I say a double a day keeps the doctors away

not sure if another pullback here. if so, too fast so not ideal for bulls.

Advancing stocks are 1.98 x declining stocks (NYADV/NYDEC)
Advancing volume is 3.43 x declining volume (NYUPV/NYDNV)
Narrow based Bull, volume is flowing into the mega-caps
$OEX agrees

Al_Dente wrote:Narrow based Bull, volume is flowing into the mega-caps

SPY at multi-day high, IWM not even near the hod...

Daniel wrote:

Al_Dente wrote:Narrow based Bull, volume is flowing into the mega-caps

SPY at multi-day high, IWM not even near the hod...

“A rising tide lifts all boats”
This tide is lifting about 85 boats, not all boats.
But hey, a bull is a bull……… can't argue that....

SPX Weekly right at 50sma overhead.

Daniel wrote:

fehro wrote:...may see a good move in oil.. it's coiling in a triangle of sorts

Fehro, here is my analysis of USO. It is very sophisticated.

Its 5day sma is 14.62, and it currently trades at 14.64; hence it is a buy.



Next stop, 8day ema at 14.67.

One could get brain fever like a character in a Dostoyevsky novel if they over-analyze this market. However, if you are right, then USO/CL will have to knock out these simple MA resistance points first...

the KISS method.. inbetween 20d/50d go long short on the break of either.. looking a tad bullish up to the 50d.. then maybe a 200d on a close above the 50d

These are the best intraday performers in the OEX (the top 100 mega-caps in the SPX),
with UPS and FDX at the top of the heap

SPX pullback.. question is how deep..

1st touch of ema20 after 3+ hours, it should be bought otherwise bulls are in trouble.

That’s why we’re getting this divergence on the tick (market up, tick down)
Narrow based rally is masking the fact that the majority of net upticks are down
But bulls still have the ball…….
1min

SPY $198.00 from 5 days ago hit.

offt:
good article on Fed's strategy:

http://qz.com/492940/what-if-the-fed-ca ... est-rates/

[save for later]
“Why Morning Is the Worst Time to Trade Stocks”
To bypass the paywall, click the top story here:
https://www.google.com/search?q=Why+Mor ... 0&ie=UTF-8

SPX

Happy news?

vol surge, might be a pullback here first which likely would be bought.

INDEX days... TLT weak, TRANsports into the 50d

SPX some resistance in this zone..