Cobra's Market View

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For now, the rebound looks like a bear flag.

members only update starts here: http://www.cobrasmarketview.com/2015/01 ... ay-update/

Steep acceleration to the upside is expected at some point here, to new all time highs.

Fear is very extreme and we're just a few percent from the last all time high, the VIX > 20 and no lower low. This is a recipe for disaster for the bears once again.

SPX.. tagging possible orange neckline.. still subject to moving, a tad steep.. but back to fill morning gap/RS? … Red arrows, FOMC fireworks?

Another pop in UUP INDEX dailies

LONG NUGT ...
Edit:
Chart...
Exit point fluid...

SPX move up showing early promise… 60m.. flatter neckline.. speculation …VIX on double support..

VXN has a wide red bar so far. If it holds all day it's step 1 of yet another buy signal in a market that continues to behave according to vol ranges. I'll put a green arrow IF there's another red bar today, assuming today also closes red on VXN.

Bear first move today.

I hope everyone had a happy and safe holiday. I was in the Caribbean and I am pretty sure I saw Cobra's yacht!
Looks like crude (CL) is stuck for the moment just under $50. If it gets through I think the market will follow.
I also see that the RUT (TF) is stuck in a box this morning and not following the S&P for what ever that is worth.

SPX… possible invs H&S / triangle into FOMC should we chop till 2ish… otherwise mind red/green trends / gap.. if it's just up…

Not to sure of this pop up is the real thing. The pop did fill the after mkt up PB. The SPXBP is still a little sick this morning. So lets wait and see.

INDEX dailies.. 20d/50d converging...SPX 2042-44 range .... TRANs 20d/50d nearing a cross.. INDU strongest atm ..

Building a LONG position in SVXY...
Only questions asked here will be answered...if...

I want to see new HOD from here.

BB52X, It may not happen. Mkt looks like it wants to go dn to Premkt PB at 199.82. Lets see.

KENA wrote:BB52X, It may not happen. Mkt looks like it wants to go dn to Premkt PB at 199.82. Lets see.

Bull flag atm. until it fails. not fail just yet.

FG,

No wait for below 2000 S & P entry?

talking island tops yesterday… XLF.. last two weeks.. possible island top? (it's a little gappy overall) are the financials going to start to squawk about shale OIL loans in trouble? .. weekly sitting on a cliff of sorts..