Cobra's Market View

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Double Bottom or Bear Flag? I need see more bars.

members only update starts here: http://www.cobrasmarketview.com/2014/05 ... ay-update/

Vote Cobra.....glta.

First new sell triggered on Utilities.

I swear I'm not trying to plug Bespoke but they really have some good stuff up lately. The 5 most recent posts are all worth reading for the insightful or interesting perspective they have.

All these charts are from their site and for brevity I won't copy the text here because they are quick and worthwhile reads. Just go here:

http://www.bespokeinvest.com/

Initial internals are bearish but that will be old news by the time you read this.

HYG continues its bullishness. thing that make you go Hmm....

Not much to say. The bounce at yesterday's close kept daily SPY MACD from a bearish cross. At the moment, its done a bearish cross but that may not hold til the close. So the market is still in a bullish posture.

BullBear52x wrote:HYG continues its bullishness. thing that make you go Hmm....

here's another perspective"

testing yesterday low, key time, wait to see if bulls could make double bottom.

SPX 15m .. possible orange triangle.. green support key

S&P A/D just fell to -280
That's worth noting
It means that AT MOST, 0nly 110 issues are up.

Intraday is back to sell now.

vol surge, may see rebound here. double bottom still possible.

Index dailies... SPX trying to hold 20d, 50d.. quite the pop on UUP

http://www.aaii.com/sentimentsurvey/sent_results from yesterday.. can you get any more neutral? bears and bulls gun shy.

What I look for if RSI Pos.D is failing.

Once upon a time, in a bygone era of high-flying internet/momo stocks (aka "just 4 months ago") issues like these were all the rage......

I know I keep harping on this, but POMO is still in play. I grossly overestimated how much was needed to keep this market up. (I thought it was appr 1.8 billion / day, looks closer to 1.4 / 1.5). Again, we have a controlled descent based on decreasing POMO. The market looks to fall / hold even to the end of the month. If ECB acts in June, the Fed will be able to continue Tapering, with Market taking off to new highs with influx of ECB QE cash. I find it interesting that the DOW and S&P are hanging tough (POMO driven) while almost all other sectors continue to drop.

glta