Cobra's Market View

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no idea up or down, stuck in a range, no direction.

members only update starts here: http://www.cobrasmarketview.com/2016/07 ... ay-update/

SPX in between major trends. SPX opening near 2163 lower triangle edge, descending triangle, H&S neckline 60m (bottom left chart yellow/pink). VIX holding up, and on support.
Mind the morning gap.

buckle up for the 4th time .. Key level

SPX holds and goes for the morning gap fill

SPX intraday gap from yesterday.. just a tad higher… fwiw . Morning gap filled.

NAAIM 101.02

Not necessarily bearish:

1/30/2013 104.25
11/27/2013 101.45
7/27/2016 101.02
12/11/2013 100.69
3/1/2007 100.05
1/3/2007 100.05
2/25/2015 99.23
12/26/2013 98.94
1/15/2014 96.83
7/13/2016 96.52

SPX dabble short again.. not ideal

Escalator up elevator down.

buckle up again for the 5th time key level 2160-63 ish

Here we go bouncing on the same support 30 minutes later. ES 2156 must be important to someone.

/CL USOIL nears 50w SMA.. just 0.20 lower… weekly candle looking very ugly… W/D/60m 200d SMA 40.51 next should 50w SMA fail..

SPX trying very hard to hold this level.. if it goes.. look for a waterfall event down 10 points in a heart beat ... imho

Thanks for that Pasta Boss.
One minor quibble, historical reviews should go no further back that 2009 when the central banks began full intervention in the markets.

Bank of Japan's (BOJ) two-day policy meeting, due Friday

so I would speculate, the final "definitive big" move would be after this....

my bias is down

Trades with cats wrote:Thanks for that Pasta Boss.
One minor quibble, historical reviews should go no further back that 2009 when the central banks began full intervention in the markets.

not sure if it's 100% mm.

note GM and F