Cobra's Market View

From what I see SPX.

Making a potential topping hs pattern with the left shoulder at 1190 , the top at 1230 - the right shoulder at 1190 now....

Target is 1050 per this pattern........

Over and out ! im short from 1220 and remain short here.

uempel - markets broke down of neckline in an topping HS pattern on daily chart - quite normal sometimes in the future to backtest this trendline before we drop further.

Anyone seeing a 2 day chart of markets QQQ looks like a perfect inverted HS pattern IMO ! at neckline now

Chart of target topping HS pattern dow jones 10.800

There is NO one looking at the dow jones which pattern targeted 10.800 which is reached PERFECTLY..... bottom for now is 10.800... is this a short term bottom ? I think good chances....

http://3.bp.blogspot.com/-aU6sUWQvz2s/T ... 00/2-5.jpg

Here is chart.

As called this morning , watch SPY 132.75 for right shoulder 5 min SPX chart - HS topping pattern , now the target is below 1300.. so we should see that level by tomorrow IMO

IWM nearly always leading markets up and down... follow the IWM , 90% of times the leader.

Cobra

Anytime where markets has been red on option expiration day on a Friday ?? and how much if so ?

Chi could get even lower.... we dont even have a bullish macd divergence on 60 min chart....

SPX to 1295-1300 first target... then we see if that holds imho , if not panic will come....3rd time on MA(200) like a charm

People must be blind if they cant see a CLEAR topping HS pattern on 5 min chart with right shoulder in now at 132.75.... now lets see the flush from here.... targets below 1300 SPX

Everytime markets had a plunge into close or most of the times a big red day next - I think we gonna have some really ugliness thursday/friday.... look at SMH how low they are.. near june lows..

I guess we could see at least 1295-1300 , if that is taken out , 1230 next imo

I'm calling for some real PANIC over the next few days.... especially Friday could be really bearish as people afraid of EU stress test....

Also 30 min chart decreasing volume on move up.........people bullish and think this was the dip , will get SCREWED next days imo... and I think they will get screwed in a big way to the downside from here...... time will tell....

This is what happends guys. UUP dollar is backtesting broken resistance today.... which acts as support. They are making a quick snap back rally for euro to backtest the broken support FXE....... Much more EU news to come tomorrow Thursday and Friday..... with stress test... I think we are about to ...

European markets still sideways , flat ? Is the US right or are they going to follow Asia and Europe markets down below the lows in June ? only god knows.

Markets up big , dollar down testing the broken trendline support now ! Rally TIME , bulls we are going to 1400+ ! Lets rally.............

Markets were not even oversold last days.... this is the pure bull run, buy the dip........................or...

Today the MA(50) broke... everyone should be looking for MA(200) next...

But I dont think MA(200) will hold , 3rd time like a charm... will breakdown...

But overall... what I am watching is 1300 , if we hold there, might be a lower high... if not.... we will move below MA(200) next.....

We are going to have a possible -2% down day tomorrow on Wednesday as we had on Monday.... markets consolidating before lower. Look at european markets - already down below the last lows they made 3 weeks ago.... US should follow down below 1260 next imho. Greece considers to deffault now... time wi...

I think we get lower all this week , possible with panic and take out MA(200) this time. 3rd time is a charm... if not, then 1300 should be good support...

There is simply no way they can bail out Italy and Spain.... not even one of them....

They better let the Greeks go bankrupt instead of pouring more money into a black hole and save the bankers and rob the people.....screwed world sometimes...