Cobra's Market View

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2nd test of the previous high, 50% chances of reversal, wait.

Vote Cobra #1. glta. ...and whoa!

members only update starts here: http://www.cobrasmarketview.com/2014/03 ... ay-update/

Hey Guys,

Good morning and good luck.

Thanks in advance for all the great stuff I'm going to see on this board today

In the summer of 2000 trading was very nervous. Are we in for a similar scenario?

uempel wrote:In the summer of 2000 trading was very nervous. Are we in for a similar scenario?

The attachment SPX2000.png is no longer available

Yikes! Thanks Uempel.

Elsewhere Peter Oppenheim is retiring as Apple CFO— just a day after announcing he was taking a spot on the board at Goldman's.

Also, I know I'm a day late and dollar short here, but I thought this was pretty good:

a little too stretched, so should see a pullback or consolidation first.

SPX 15, 5m.. invs H&S hit... open gap filled, another one made... Expanding pink triangle?... yellow channel now

VIX 15m.

SPX 60m, H&S failure.. green channel? for the bulls... possible double top for the bears...

Dailies... VIX back under it's 20d, 50d, 200d, Transports strong

Xian, nice G8 selfie

That felt like a top.

SPX 1868 - my best guess is that a breakout here is a trap - but I admit that I have a bearish bias. Next press conference of Vladimir Putin and the market tanks. Or will it be vice versa? Yellen catches a cold and sneezes and down goes the market

Neutral.

My summation signal is up. A soft day today would turn it neutral but the overnight action should negate that probability.
My composite trend signal is up.

Nice jaw dropper this morning when I checked the overnight action!
I think some well informed Russians residing in London are laughing all the way to the bank today.

Very strange couple of days for me with no trades.
I had setups in various markets from Friday get knocked out yesterday.
Yesterday tee'd up a handful of setups that got knocked out overnight.
Trades already on the books have gyrated but stayed on track with no stops hit.
Firedrill is the word that comes to mind.

Candidly, I am not sure what to do about equities right now.
My signals and the trend are still up, but I don't have an edge.

SPX 5m

kind of ascending triangle, so the bias is a little bit up.

SPX 5m.. possible resistance area.