Cobra's Market View

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Possible 3 Push Down, so 2 legged rebound due?

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

DAX double top, targeting 8418.

Update grid:

Vote Cobra. glta

Cobra wrote:DAX double top, targeting 8418.

Not so fast Cobra Traders will do everything that 8920 doesn't break. Short term bullish target today 9060/70 or even 9120 ...

$EURUSD: 3-wave up leg done. Potential retracement target 1.3768-1.3705

For what's its worth dept. Several premkt PB"s up to ave of !87.33.....But lets see what works out.

this push up must exceed the tinted area otherwise bears may step in.

SPX 15m bouncing into resistance

good, but bulls need do more. this push up secured another leg up though.

SPX 5m.. possible messy little invs H&S neckline subject to revisions

SPX 60m.... maybe just retesting orange channel..

Short. Fixed an entry error yesterday and added.

My summation signal is down.
My composite trend signal is up. Took a hit yesterday. It will be interesting to see where it is at after today's close.

If I am pleased by anything, it is that I stayed neutral and did not get long in the enticing action around last week.
Who knows where things go from here. I am inclined to think yesterday looked more like an initiation than a one shot deal, but we will see.
My MO chart suggests we have not reached a level yet where things are oversold or even where lows typically appear. (See small blue ellipse.)
We are at a place though where the MO could make a corrective move back up toward the zero line (maybe next week?) before completing to a cycle low.
My signals say this is still counter trend. So, a dip buying squeeze the weak hands no easy for bears principle face ripper is probably on the menu at some point.

The contract roll is still unfolding and OPEX is next week. So, a lot can happen in both directions in days ahead.
My stops are comfortably above the current trade. I hope to do nothing today.
If I am paying attention, I may try some intraday hedging if the opportunity is clear to limit drawdown, but it is usually best for me to sit and let the setup do its thing for good or ill.

TLT pressing previous near term highs .. again.. Index Dailies

possible 3 push up, here's my guess. as usual, I'll give bulls more credit.

SPX 5m... revised neckline... hold a higher low... bulls have a possible invs H&S... only thing, VIX is into an open gap.. with a fair amount of thin air above...

revisit yesterday's low, wait to see if those aggressive dip buyers come in once more.