Cobra's Market View

fehro wrote: VIX tho.. looks weak - ish

It's been ponzified. Trading different now.

It'll be a battle to paint the weekly candle.. either bullish or bearish.. on triangle break SPY 5m

That the recent run up is "off the books", no volume, done with some sovereign ponzi, me thinks the bull market run is history despite the bubble valuation.

Flush the toilet...

gappy wrote:

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That the recent run up is "off the books", no volume, done with some sovereign ponzi, me thinks the bull market run is history despite the bubble valuation.

Despite?

hourly looks weak, on triangle 5m edge. VIX looks weak.. still tho.. ..

Gandalf (JPM's Marko Kolanovic) explained this week that ES market depth is directly related to VIX. He said if the VIX doubles from here liquidity will be cut in half. That is why all the funds are going long volatility (buying VIX related ETFs) as a volatility shock is the current largest risk to the market. He also said the low volatility high liquidity environment has allowed Hedge Funds to reduce equity exposure without causing a sell-off.

I am assuming the buyers must be managed dumb money as in pensions and retirement accounts along with foreign central banks because according to both B of A and Lipper the capital outflow continues and is unprecedented.

Intraday bulls last stand.

out @ 52.5, wait to reload.

Some financials are near testing double bottoms

Sell @54

Bullish Percentages weak:

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


Doesn't look as though SPX can hold support 1.

$NYAD is taken by the bears force now. bigger bear flag

Previously the red cycle led to quite dramatic moves. So far this week SPX has barely moved. High was about 2083 and now it's at 2056, that's less than 2 percent. I'm praying (to the trading Gods) for more volatility.

gappy wrote:

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That the recent run up is "off the books", no volume, done with some sovereign ponzi, me thinks the bull market run is history despite the bubble valuation.

A "foreign ponzi" Sounds terrifying. Perhaps the wall on the Mexican border won't suffice. Trump might have an adequate answer

50d tag.. 2054ish

out @ 50, wail to reload.

Hi Uempel,
It was a Dud last year in mid-April and so it might do the same this time (Q2 of the year). Hopefully, it will be sharp move down in its next turn (end of September)?

uempel wrote:Previously the red cycle led to quite dramatic moves. So far this week SPX has barely moved. High was about 2083 and now it's at 2056, that's less than 2 percent. I'm praying (to the trading Gods) for more volatility.

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100% mm. sorry didn't see it coming.