Cobra's Market View

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No idea if pullback was over or not, need see more bars.

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

SPX 60m x4 … a few channels for everyone.. find the two right charts and great example of two channels.. both are right… depending on where we hold/ break and retest

Anyhow.. bottom right bounce sharply off 20d.. and H&S or triangle into the end of the month.. middle bottom.. bounce but fail… and form a bullish falling wedge into the end of the month to test/hold 50d…. top middle.. total failure to the centre trend/gap and worst case 200d. VIX 60m a tad bullish leaning.. more so over the cyan trend.. then I'd lean to a stronger SPX down move. VIX 15m bottom left…failure at resistance/lower support.. then top right SPX fill upper gap new all time highs?

Greece news (or ?) over the weekend/Monday "could" determine the direction and timing of the new release determine the pattern... .. fwiw.
And of course as always price is king.

Markets are constantly in a state of uncertainty and flux and money is made by discounting the obvious and betting on the unexpected.
George Soros

... based on that quote.. I'd say top middle chart.. 200d.. LOL! .. the triangles / new highs seem to be the obvious.

Let's see what happens at the opening:

Update:

I posted this chart several times in the last few days:

SPX … VIX trying to move above resistance.. SPX filling the AM gap 20d tag...

Long SPY 208.80. The Russell looks as if it went way oversold this morning.

Out of Bounds wrote:Long SPY 208.80. The Russell looks as if it went way oversold this morning.

Dumped 208.40 That was an unpleasant surprise.

Update:

INDEX SPX / NDX 20d tags

SPX trying to find support.. fill Fri AM's gap..

Looking at SPX 2087 and 2077 ...

208.74 - short this snap back

Update:

SPX …possible triangle.. not the most bullish 60m candle close at the top of the hour… more bearish leaning.. but 20d provides support for the morning..

testing ema20 blue line, don't think blue line would hold this time.

Cobra wrote:testing ema20 blue line, don't think blue line would hold this time.

the upper or lower blue line?

IBB getting smacked. Down 1.7%