Cobra's Market View

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Small gap up above yesterday's high, so not sure if the gap will be filled.

The chart pattern on Global ES looks like a consolidation pattern, so FOR NOW it's bullish biased. Even you read it as Diamond Top, however, Diamond Top is not always top pattern sometimes it can be a continuous pattern.

members only update starts here: http://www.cobrasmarketview.com/2013/04 ... ay-update/

$IBEX: The second wave (A) of a large DZZ maybe will unfold an Ending Diagonal

/TF is the the weakest link, watching the race to the dotted line.

$VXX: The last wave (C) of a DZZ could be in progress

my guess is the morning pullback would be bought sometimes later. a boring day would be today. just a guess, no evidence.

Cobra wrote:my guess is the morning pullback would be bought sometimes later. a boring day would be today. just a guess, no evidence.

not boring here

GOOG, SPY + ES and Goldman Sachs Update

BullBear52x wrote:

Cobra wrote:my guess is the morning pullback would be bought sometimes later. a boring day would be today. just a guess, no evidence.

not boring here

Sell the rips working well today Good luck

Unique wrote:

BullBear52x wrote:

Cobra wrote:my guess is the morning pullback would be bought sometimes later. a boring day would be today. just a guess, no evidence.

not boring here

Sell the rips working well today Good luck

same to you. 1555 support target, see the reaction there.

this pullback may have legs, but still likely to be bought. so here's an updated GUESS.

MR Miyagi,

Can you please post the Pbars for last 5 days in a screen. Last one on IWM had quite a down move.
Appreciate your help.

Bill

Notice SPY pushing the top of the chart.If it breaks out of the channel we go higher.Each push here is getting weaker.

GOOG target reached. First time 20EMA 60min resistance after large downtrend, going to stall here for a bit.

billrider321 wrote:MR Miyagi,

Can you please post the Pbars for last 5 days in a screen. Last one on IWM had quite a down move.
Appreciate your help.

Bill

I think we have SPY $156.89 FROM LAST WEEK.

A little short.
Sold the close and the Alcoa pop yesterday.
Post trade, the closing data whipsawed my trend signal bullish.
So, I closed the Alcoa pop short for a few peanuts.
Holding the closing short for now, but may cover today.

My composite trend signal is up.
Various indicators, however, are right at threshold levels.
So, this up day down day business can whipsaw the signal as happened yesterday and may again today.
Bottom line is there is no trend or the slope is sufficiently flat as to render it awkward to trade.

My summation index signal is down. It could turn up this week if bullish action continues.

I am headed out for vacation day after tomorrow.
So, i am inclined to get neutral unless signals get some clear followthrough.

awww man.......not enough sapce

This shows for the last 4 months each up push gets weaker..The strong stocks have lower highs and the weak stocks are increasing..Some day the bears will be happy.

Silver cup and handle squeeze confirmed. BIG MONEY TRADERS