Cobra's Market View

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Double top or not, wait and see.

members only update starts here: http://www.cobrasmarketview.com/2015/04 ... ay-update/

SPX 60m.. still in the cyan/yellow triangle… but VIX 'looks' bullish.. so mind a break

/ES daily.. for the bears… orange line could be a break retest.. a tad messy.. or red triangle..

SPX channel holding of sorts.. bottom right… double top range.. VIX pulls back sharply..

INDEX days.. TLT 20d/50d convergence.. holding.. NDX >20d TRAN trying

Vote Cobra. glta

The fix still in.

SPX… for the uber bear ABC/ABC/ABC corrective wave 60m

rebound from range low, hopefully it means to test range high.

NYSE advancing stocks = 1.0x declining stocks
NYSE advancing volume = 1.1x declining volume
(chop)

now close enough to range high, wait to see any pullback to test range low or simply a breakout.

IS this positive of negative?
(seems neg as more openings???)

i sold JD, long MRVL this morning and i still love TWTR
getting so bored. anything i can do?

looks like OIL wants 54-55

new range high, bulls need break it too otherwise still it's range day.

downtick pbar @
$205.39
$206.43

are going to get hit by 2018

NYAD cumul has made another new all time high ahead of the index. I still keep reading the word "top" everywhere but the market has hardly corrected at all, which has included

1) Horrible jobs numbers
2) Horrible macro data
3) Deflation
4) A crash in oil

Anyone want to guess what that means for the future of stocks if none of those things can cause even a 10% correction? If you guessed "we're going much higher" you are correct.

a couple months ago… we had VIX with 'hair on fire' look.. now looks like 'pants on fire' …