Cobra's Market View

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100% Measured Move up to 1933.25?

members only update starts here: http://www.cobrasmarketview.com/2014/08 ... ay-update/

Long term view ...

SPX 15m... mind the morning gap/red rising bearish wedge

Update:

Weekly. Vote Cobra. glta

$BKX testing its 200day MA..

morning hourly black bar.

Update:

Short. No change.

My summation signal is down for the SPX and neutral for the R2K. New highs could turn it up for the R2K.
My composite trend signal is down. Bulls have a lot of work to do to repair technical damage.

Yesterday was not very strong but just strong enough to complicate things and widen the range of outcomes.
I have a profit stop on my short, and a possible long if my summation signal turns up.
However, downside remains as upside comes into play.

I have tentatively marked a revised cycle low on my NYMO chart as it has made a higher daily high and a higher daily low.
This is constructive provided it isn't another deception like the one some days ago.
This doesn't necessarily mean a price low is in as it is common to see a price low with a positive NYMO divergence.
I have left possible target circles in place in both directions.
A NYMO move to zero could merely be corrective. So, minds need to be open both ways as things unfold.
As usual, I have no idea what will happen.

VIX 15m.. take your pick, triangle, expanding bull flag, bearish falling wedge.. coming to key support short term..fwiw.

uup hits fresh 18day high

Cobra wrote:morning hourly black bar.

Cobra, why do you play black bar in the early morning? This is a financial website. Not the right time to play the black bar game. Cobra, wait until the market closes

gappy wrote:

Capture.PNG

The most volume for spy put options for tomorrow is at 187.00 !!!

SPX 15m morning gap filled.

another touch of green line below, we'll see breakdown.

breakdown indeed. here's double top text book target.

ALdaytrade wrote:

gappy wrote:

The attachment Capture.PNG is no longer available

The most volume for spy put options for tomorrow is at 187.00 !!!

I show max pain at 194
FROM: http://www.maximum-pain.com/max-pain.aspx