Cobra's Market View

ES 5 waves down.

ES

ES

Friday the 13th

Here is my view based on DH method: Bullish scenario: ES stopped at 1307, which is 50% RET from High to pre-High and has a target above 1340. Most likely, market will make new high to 1340 before a sizable RET. Bearish scenario: if Friday's low broken, market may drop to 1301 and an intermediate RET...

Almost there, a time to take a break...

esTrader wrote:

TWT wrote:SPX: If only 3-wave up leg off Friday´s lod then the impulsive option could pan out with an ED

This EW labeling may be wrong. Based on EW rules, wave (III) can not be the shortest.

and also wave iv should not have overlaped with wave i

Anyone has the NYMO reading?
If the market finished at here, I assume we will see an apparent - divergency.

test

Is the euro debt crisis unsolvable? In 1982, we had similar Latin American debt crisis and what happened to the SPX then, seemed not a big deal at all :mrgreen: Was the market going sideways for a decade in 1982? No, the trend was up. Also, please explain how the Latin American debt crisis was simi...

Spx hourly still in the up channel, but be aware of the cycle turn.
Daily, seems broke symmetrical triangle and doing the backtest now.
Weekly, bull not out of the woods yet, under heavy resistance.

Is the euro debt crisis unsolvable? In 1982, we had similar Latin American debt crisis and what happened to the SPX then, seemed not a big deal at all

fehro wrote:channels....

trendline broken, seriously!

Good morning!
ES seems moved up impulsively within the intact up channel since 28th's low. Bears (too many) be careful!

Cobra wrote:by the way, if we fail here, then you can finally call it a Rising Wedge. this was what I mean ascending triangle can turn into rising wedge.

but the volume for the last push seems not comply with rising wedge rule, doesn't it?

fehro wrote:retest? pull back to 1259ish? 200 Day SMA = 1259

Missed your chart, seems it start sto show that RSI ND Cobra asked for

forget about TA, FA or whatever A,
just nobriain buy buy buy, till next year!

Thanks to Cobra and all, Merry Christmas!