Cobra's Market View

CNBC dusting off the perma bulls...cant wait for the "money off the sidelines" case...never gets old

Cobra wrote:nothing to say. QQQ is strong, so bears still need pray.

but IWM leads...and wow, its just hanging on by a thread...thoughts

jarbo456 wrote:cobra, looks like the 80% trade of vix and s&p up two days in a row is going to fail...and think it failed the last time too. things are getting just surreal now...when 80% bear trades aren't working multiple times in a row.

this is an election year...for Obama and Ben...refuse to lose

i cant ever remember a time when we broke out on an expiration day, i remember some recent fails, but not breakouts

new highs in the SPY without the girls who got 'em there...AAPL and XLF...futures driven, wont last....short it! ALGO/EXPIRY nonsense

AAPL parabolic blowoff, finally the SP can find its real level...this is mania

as Doug Kass calls it, NBA MArket...Nothing BUt AAPL....bears are held hostage

cobra , 5min showing bear flag, pendant or triangle...looks like continuation?

Cobra wrote:again this is key battlefield here, strong rebound here then game over for bears today. let's wait. I still don't believe we'll see V reversal today because the 3rd time is the charm!

"third time is a charm"....W.D. Gann

IWM out of it's bollinger band. This market is pricing in a potential Greek debt deal over the weekend. I will short the market open gap up on Monday. With a Greek deal and earnings season largely over, there will be no catalyst propping the market after the Greek deal is over. I've closed out all ...

Cobra wrote:

lcgllc wrote:Cobra our 5min ascending triangle now rising wedge, open window for downside exit?

no.

first, the breakout point still held.

2nd, even the wedge support broken, it could be a channel.

normally trade against the trend isn't easy to be right, so I won't short.

thanks

Cobra our 5min ascending triangle now rising wedge, open window for downside exit?

QE3 just fell off table, FED Funds pricing 100% rate raise for 2013 (sorry Ben)...the unwind trade will be powerful, i think this gap will be seriously challenged

5min SPY goes from ascending bullish triange to bearish rising wedge, something for evryone today

utterly bizarre 5min ES action, ascending triangle out of time here

stucap wrote:

soku wrote:me now expecting es 1316-17

good target -- might go higher -- bulls are greedy and bears will cover.

disagree, VWAP on day wont let that happen on xpiry Frday with EOD programs

uempel wrote:This was funny - some guys just don't want the market to tank.

ww.png

yeah like the 85% of equity market that is long only

Nice H/S on IBM daily in the making...one to watch when earnings season wains...and Europes recession is more defined

any chance this could resemble a blowoff, been waiting for something like this

1273ES has major daily confluence, i think the pivot low holds, playing bounce to 1282ES to reacces