Cobra's Market View

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It's the 2nd test of the rebound high so key time. It's resistance (blue line) and Fib 78.4%, so if there're still bears it's now or never.

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

Hey Cobra - FWIW noticed a bit of spam on the main board for the trader lounge. Probably want to nip that in the bud before it infests the entire board.

PPT puppet pump day. Enjoy! Vote Cobra, keep it real. Keep em fiats down, debt default denial. glta

At these levels, Snog turns back red. Watching for conviction and not seeing it yet.

SPX 5m... possible red channel.. a little too early.. but there it is.. possible wedge break

VIX 15m... not the cleanest wedge.. a little too steep.. but .. holding support atm

$SPX: The potential wedge

INDEX 5m

Over 4 undervalued Index puts for every call bodes down for el mercado

http://www.ise.com/market-data...

Out of Bounds wrote:At these levels, Snog turns back red. Watching for conviction and not seeing it yet.

11.JPG

I'm not familiar with Snog, but agree that short term (3 week maybe) bearish case could be built here (have the charts, but no time at the moment) - low volume retrace reflects selling vacuum rather than buying torrent - currency crosses (especially yen/euro) show short and intermediate term neg dev (looking back a couple months) and historical pos correlation to spx - there appears to be a defensive sector rotation over past 13 days (March) - we'll see

$TLT: This could be the wave (2) of a large impulsive sequence

Heck wrote:Over 4 undervalued Index puts for every call bodes down for el mercado

http://www.ise.com/market-data...

i see more puts than calls for indexes

Short. No change.

My summation signal is down. It has potential to turn neutral today and if so possibly up tomorrow.
My composite trend signal tentatively turned up yesterday. It needs confirmation from one sub-indicator by tomorrow.

My signals have entered inflection. They'll either hold over the next day or two or turn.
My TRIN study suggests that either an intermediate low is in (wasn't much of a low) and up we go, or a high for this bounce is likely set between yesterday and tomorrow.
Interestingly we've entered a Bradley Turn zone, which suggests either acceleration or turn. Actual date is 3/22.
It is not unusual for Mr. Market to pick a direction after some FOMC gyration.

As usual, I have no idea what will happen. The range of probable outcomes looks wide here.
By week's end, Mr. Short may or may not get fired for poor performance, and Mr. Long may or may not get hired.

Time signal in the next few minutes - either up or down move:

AAPL daily... tricky... possible tagging one line of resistance, retag of red break(minor bear flag?)... BBand getting tight.... a big move is close.. volume lower on the last two up days...

$FXY: Potential wave (2) pullback

Nasdaq leads??

uempel wrote:Time signal in the next few minutes - either up or down move:

X.png

A dud, for the next 3 hours most signals might be duds