Cobra's Market View

Cobra,

Can you shed any light on if it rallies going into the Fed meeting, does it usually sell off on the news or is there no bias after tomorrow's meeting? Aren't we already overbought?

I'm only counting wave 1 and 2 so far today --- don't we still need waves 3, 4 & 5 to complete this move down? - newbie

Check green Fib cycle: SPX45.png Thanks so much for the Fib cycle showing the green cycle starting soon. What your chart doesn't show is how long this green cycle lasts until the next red cycle. :idea: Can you extend the graph a little for our enlightenment to see where the next red and green would...

Dear Cobra: You called it yesterday. Whenever you say Chi Oscillator is too high on 60min, I wake up. You da man.... again thanks to Cobra, Chaikin Osc has become my fav indicator (i use slightly faster settings with a trigger line) http://stockcharts.com/school/doku.php?id=chart_school:technical_i...

BullBear52x wrote:My crystal ball telling me that these support will be broken.

Can we also break to the upside as the ES open interest dip was below 1 today and we usually rally following this occurrence?

uempel wrote:Yesterday's zigzag 100/60 did not work (I covered the position at midnight, as the minis tanked down to 1148), now let's see if this zigzag works - I'm short again

SPX3.png

How would one go about trading at midnight? My afterhours trading stops at 8 PM and I'm frozen till 7 AM. Ideas?

Cobra wrote:

q2model wrote:

Cobra wrote:volume surge and the biggest bar, so bulls could take a breath here. after that should be more on the upside.

Why more upside? Momentum too strong?

yes.

Any easy way(s) to measure momentum or if it's waning?

huge gap up but within the Friday's range, so not sure if the gap will be filled or not. I don't see much clue on the Global ES, the regular hour ES though, looks like a complete of 3 leg down, so 2 leg up here? Would we expect leg 2 up to continue all the way into the Jackson Hole meeting Friday? ...

I've only posted a few times as I'm new. Great bulletin board.

I would NOT buy this dip. more fuel for the squeeze :) i will leave you with this point - "corporates are the new sovereigns" - cds spreads higher for us gov debt over corporations. As for "more fuel for the squeeze" -- I'd expect this selling will add more fuel to the rally onc...

Love the board but since I'm new -- I guess I'm still catching on... Cobra wrote yesterday: "However, there’s one thing I’m a little certain: If indeed the market rebounds right away tomorrow, the rebound most likely is sell. The argument is a strong uptrend should never have 3 consecutive down...