Cobra's Market View

This is a GREAT post. Complete with chart and reasons for a trade. Thank you Whether it makes a profitable trade is yet to be seen, but the rationale is clear. All I kinds of resistence here. Just went fully short this morning as long as we stay below 1303 here. -38.2% retacement -bear flag resiste...

All I kinds of resistence here. Just went fully short this morning as long as we stay below 1303 here. -38.2% retacement -bear flag resistence -secondary resistence from a trendline from the peak of the market - yesterday had huge "selling on strength numbers on SPY" which I have found to ...

Great stuff Cobra. I am all cash as of Friday so I have missed today's rally but am waiting to go short again. I am looking for the market to reach about 1303 in the next 2 days and looking at the EUR/USD to hit about 1.435. If this plays out I will go heavily short again. I think your "evil pl...

Cobra wrote:i'm still bullish biased today, looks like an Ascending Triangle on QQQ 15 min chart.

Cobra, would you say that there is a chance of an IHS forming on the QQQ's over the last 10 days or so?

Very important here:

Cobra wrote:green keeps dropping, i really don't understand what's going on here.

And to add to that... TLT (long bond prices) looks like a 3day bull flag that may break out. Interesting action with the S&P up this much.

1291 is a pretty important pivot that will likely act as support. If not then this will be one hell of a fake out... I do believe this is a bull flag with one more high coming either today or tomorrow. *** I am fully short now. While the market may have one more high coming soon... I am okay with a ...

Something that looks pretty bearish to me is the rising wedge in the EUR/USD. I see them ALL the time in this currency pairing and it pans out very frequently. It will be interesting to see how this develops.

Cobra wrote:

TrendTrade wrote:Cobra, you may not have time to answer this but what are the settings on your chiOsc? I cant get mine to show anything.

the default. ChiOsc(3,10)

Got it. I was trying to run it on SPX but that has no volume. It works now on my SPY chart. Thanks!

Cobra, you may not have time to answer this but what are the settings on your chiOsc? I cant get mine to show anything.

I'm also in the boat of the markets bouncing this week through the FOMC meeting... markets possibly peaking that day (unless th Fed hints QE3). This is how FOMC weeks often go. Slow melt ups with the VIX getting crushed. However, I do believe the next move down will be pretty explosive. Will start a...

Vey nice chart on IWM. IF it can break out it should reach about 81.4 berfore hitting significant resistence. Or possbly 83 on a back test to set up H&S. Must break 79.14 Longer Term

TrendTrade wrote:

StrikePrice wrote:IHS?

Maybe....

Very Possible.

Actually I dont think the IHS is valid because that is an SPY chart and SPY had a dividend today which throws everything off. If you look at the SPX it is not a IHS.

StrikePrice wrote:IHS?

Maybe....

Very Possible.

Also wanted to add that this board is the best trading board online. Hope it doesnt get dilluted with un-related commentary. There are some very quality traders/chartists here and we have a great leader.

Cobra you have something good going here.

Hi everybody. I'm new here. I'm from Portugal and I Love this board. Great Analysis By cobra. Anyone have a target for dollar? Thank You I would look at the EUR/USD. It should bounce somewhere in the range of 1.39 or 1.4 If it does not bounce there... then I will have to re-evaluate to establish a ...

Here is a chart of the Euro. Its a little sloppy on the H&S, but I think its valid. Trouble for the bulls... good for bears.

bear cross on the 15 min MACD

EUR/USD backtesting head and shoulders breakdown from earlier this week. Major resistence and could reverse the dollar here. Lets see how this plays out.

We are still stuck in a falling wedge. I think I stated a few days ago that this will likely end in some sort of wedge. We may have already bottomed but I am still leaning bearish until we break today's high. If we do break out of the wedge pattern I do think we can rally really quickly over the nex...