Cobra's Market View

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Blue line has been tested 3 times so one more test it'd break, let's see if bears can make another test.

Weekly stock picks are here: http://www.cobrasmarketview.com/2014/06 ... ock-picks/

members only update starts here: http://www.cobrasmarketview.com/2014/06 ... ay-update/

/ES 60m .. H&S?

Vote Cobra. glta From Springheel Jack; and

test Friday high 4 times, so now breakout is more likely.

SPY 15m, mind the multiple patterns... orange triangle, bearish rising wedge cyan/olive, bear flag/channel olive, larger cyan channel

VIX 30m.. green SPX green

SPY 15m.. orange triangle toast.. into possible resistance near here.

Small long. No change.

My summation signal is neutral.
My composite trend signal is up.

Perhaps the low is in. Don't know.
I wanted a lower low to add to position.
If this mornings move is establishing track to test the top, I'll reassess.
Plan to do nothing in equities today. Working on other trades.
I am not sure I can take any bear moves seriously until VIX breaks back above 14 (actually higher).

Daily

the pullback might be bought. I think H2 is needed to buy dip though.

No 3:00 am big beat downs on gold or silver for several days now....hmm. But is this a giant failed cup and silver handle?

https://www.tradingview.com/x/sL0dV16V

https://www.tradingview.com/x/rV2Nvvse

BlockTradeAlert ‏@BlockTradeAlert 3m
BLOCK TRADE: $SPY 500,923 shares @ $194.18 [10:39:05]

BlockTradeAlert ‏@BlockTradeAlert 4m
BLOCK TRADE: $SPY 500,923 shares @ $194.18 [10:38:13]

BlockTradeAlert ‏@BlockTradeAlert 18m
BLOCK TRADE: $SPY 500,924 shares @ $194.18 [10:18:46]

BlockTradeAlert ‏@BlockTradeAlert 32m
BLOCK TRADE: $SPY 500,923 shares @ $194.18 [10:05:11]

I count it as H2, but not sure if it's a good buy, 50%+ chances maybe.

SPY 15m... break olive.. we may see a sharp down move... to pink.. break pink.. could see a very sharp down move... but Yellen speaks Wed @ 2:30pm EST