Cobra's Market View

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50% chances of double top, break the lower blue line to confirm.

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

SPX 15m pink invs H&S for the bulls.. maybe a tad too pretty... keep in mind the rising bear wedge should it fail

SPX 60m.. expanding red wedge/bear flag.. looks better on 60m

morning hourly black bar.

INDEX dailies into 20d NDX, COMPQ, RUT

ISEE fixed

46% ALL Opening long overvalued calls/puts = Market Buy

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

cobra what mean the hourly black bar ?

possible double bottom. break the blue line above to confirm.

grachu wrote:cobra what mean the hourly black bar ?

It's 60 min bar, so hourly.

Anytime, a bar close < open but still close above last bar close, it's filled black bar. the essence is open high close lower implying a possible reversal which makes a black bar special.

SPX 5m trends

Neutral. Long and short.
Added long around the mid-day low yesterday. Late day low would have been better.

My summation signal is neutral but could turn up with higher highs.
My composite trend signal is down.

What I do from here is unclear and depends on how things unfold.
There are a number of possible scenarios with varying outcomes for me.
There is a + spread between my long and short. So, if I get flustered, I can also exit everything for a small paycheck.

Here is a map I am using to assess the trade landscape for this week. It is just some perceptions.
There appears to be some resistance above us at the lower edge of the recent drop zone.
Over the course of the bull market, there was a tendency to hop through those areas with a short squeeze or an overnight ramp.
With OPEX ahead, it is fair to consider that possibility. On the other hand, if bulls fail to push through, bears are likely to take control.

Crude /cl $96.99 -0.38

double bottom target.

target met. this bull may still have legs.

SPX 15m.. moment of truth

Crude down 0.50

WOW, silver is being liquidated today. Glad I sold my miners yesterday, but they didn't get the memo yet.
Nice action in equities.