Cobra's Market View

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2nd test of the previous low, 40% chances of double bottom, wait.

members only update starts here: http://www.cobrasmarketview.com/2015/03 ... ay-update/

/ES 4hr mind the neckline.. of H&S…almost too pretty… could be an active day…

NO replies??
what's up??

market down strongly on good employment numbers
looking like a run to at least 2082 level or lower???

SPX.. as per yesterday.. wedged up… only to gap down

INDEX days.. strong pop in UUP / drop in GLD / TLT … . GLD "could" reverse.. seems doubtful… but capitulation near term? USD near term top?

VIX pulls back from resistance.. close on the neckline?… keep everyone in suspense over the weekend?.. break neckline could get ugly..

Very ugly indeed sir

morning hourly hollow red

NDX… AAPL helping / trying to push it green… FB not a pretty set of candles… fwiw

before the open:
All 31 banks passed Fed stress tests. The tests measured how well the banks would handle an adverse shock to the economy. Some of the biggest banks posted the weakest results because of how their large trading books would suffer as the financial markets tumble. Reuters reports: "Zions Bancorp had the lowest reading, coming in at 5.1% in the simulation, which included a 25% drop in home prices and a stock-market drop of nearly 60%. Last year, the bank fell just short of the 5% mark."

Yesterday's ISEE equity call to put at 58 was the second lowest reading in history. The only other case that low was August 1, 2014 when the equity reading was 45. Here is how the market traded afterwards. A few days more of weakness followed by a vertical rally!

SPX… could be building a minor bear flag.. another wedge should we drift up into resistance / VIX down to support

SPX.. bulls will want / need a doji…

testing LOD.. SPX .. mind 2088 range .. break it could get ugly fast…

I generally don't believe double top but let's see.

10 day % performance

moment of truth… fasten seat belts…

100% mm. maybe this bear has legs