Cobra's Market View

Credit Suisse team is calling for a short term top according to below chart. Banks of Nova Scotia team has been shorting EUR at 1.3070 and targeting 1.2860. Other banks are calling for a short term correction as well.

Not sure anybody noticed this pattern. 8 green boxes on uptrend and followed by 8 red boxes on downtrend. Now, we just completed green box #2. Yet, market spiked up huge for green box #1 and #2 similar to those in the past.

Expecting a big pull back during this afternoon or latest by tomorrow morning...

uempel wrote:Whoever shorts now is either stupid or he has cojones di ferro...

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With all due to respect, you have some attitude problems. Neither do I long nor short at this moment, but your comment at that time seems to contradict with your call for scalpers.

Cobra - I noticed these two holly red bars on DAX chart from your chart book last night.

I am seeing chatter (ala Doug Kass) about a rare pattern appearing called Three Peaks and a Domed House. http://thepatternsite.com/3peaksdome.html It's a catchy name, like the Hindenburg Omen, but I wonder if it has any merit. If I am interpreting it correctly (not sure), a completion of the curren...

BB from bottom chart is being squeezed too much. Therefore, I expect a sizable pull back to happen soon and then a top will follow after. The pull-back might begin as soon as upper-BB from top chart pointing down.

I believe that this rally is going to last until the end of the week before any meaningful pull back. As for right now, there isn't any indication of this rallying going to die soon (maybe a small pull back here and there).

oops. Here is the chart mentioned above.

SPX = double top on 5 minute chart??? Market sentiments do not look good at present. I am watching and looking for Neg. D like a hawk here, what sentiments are you looking at? I guess it is not a double top anymore, despite negative sentiments. Below chart is one example. However, 60-minute SPX cha...

SPX = double top on 5 minute chart??? Market sentiments do not look good at present.

Sell programs seem to kick in ~2pm these days? Maybe this is done by "inside communication" by ben bernanke?

no good, the 3rd test has higher chances to breakdown. The pattern, overall, looks like a Descending Triangle. Cobra, have you ever considered incorporating intraday breadth measures to aid in your pattern recognition? I'm seeing less negative breadth on this last retest of intraday lows. I believe...

VIX selloff said sell this market August 10, 2011, 11:04 AM Hours before the current session’s wipeout, stock watchers at Cobra’s Market View were feeling bearish about Wednesday’s stock trades — thanks to the VIX. The Chicago Board Options Exchange’s Volatility Index VIX, recently trading at 42.04...

Despite strong sell-off so far, not sure if you guys noticed the lack of SELL programs running today. I guess it is about time for me get out of my short-term holdings on those 3x bear ETFs, which I have been holding since July.

There are still 6-day left before debt ceiling deadline. I speculate the market might be done selling by then. As for now, my Short-term signals show a very high percentage of more selling ahead.

We are seeing some rebound here as SPX is hitting its support trend on 60-minute chart, but my short-term signals indicate that more sellings are on the horizon.

This short-term pulling back so far is suck. A lot of dip buyers went in this morning. Look like they know something going to happen positively soon to pop up this market.

To those elliot wave counters, I were wondering that are we on wave b from 60-min chart? If so, wave c must not make a higher high than beginning of July's high? Thx....

Unless you are a day trader, it is not a good time to buy the dip yet.