Cobra's Market View

I strongly believe that market is still missing an up leg or an exhaustion rally before a big pulling back.

Don't underestimate Bears. Below story from today showing how resilence bear is.

http://www.thestar.com/news/world/artic ... scued?bn=1

I believe a short-term top is close, which I speculate a large pull-back starting from Tuesday or Wednesday next week.

Alpha_M wrote:Good Morning to everyone from Toronto, Canada!!!! The home of COBRA!!!!

Cobra does not live in Toronto. He lives somewhere up in Mars, remember?

Like bank strategists said, the close knows. If market is closing with a red bar on 60-min chart, we are likely to see pull-back tomorrow.

agnosia wrote:

Dow Trader wrote:Now showing the daily chart for the leader since Mar,09 low

not sure why it's up today , china PMI flashed contraction last night. /cl sold off into that news as well...

YANG (3x Bull China ETF) is lagging tremendously today with < 1% of gain comparing to others.

Still holding my short position painfully since beginning of July for short-term play. Below chart showing # of new highs aren't confirming with today rally.

Short signals for swing trade are triggered. We are likely to see market pulling back tomorrow.

Check out VIX. It suddenly spikes up big. Something is fishy here.

Money Inflow > Outflow over last few days. That might explain why Bears having a tough time to bring down the market so far.

Vix at 20 level , soon we will have a direction or at least a sharp move 8-)[/quo Vix at 20 level , soon we will have a direction or at least a sharp move 8-) Intraday 60min VIX chart showing that squeezing BB already broke out on the upside. Somehow, my short-term signal does not show any sign of ...

Missing Cheech today. The guy does have some TA expertise, but too bad that his arrogant attitude is...... I think he is here. He'll be speaking. I'm glad I wasn't totally wrong and he seems right too, anyway we're equal. I hope he doesn't mind as I'm OK with him. I'd love to have him showing his v...

Missing Cheech today. The guy does have some TA expertise, but too bad that his arrogant attitude is......

Squeezing BB on VIX is going to break soon. Which direction breaking out is beyond my speculation. My short-term signals still don't show any sign to short this market yet.

Futures chart does not look good.

Just let him to keep bluffing as much as he could. If his calls are good, then at least we have to work hard with our timing skills. If he is wrong, we will have a loser to laugh off.

To begin with, today's rally does not have any support from elements in medium-term as well as short-term. Therefore, it might just be a short-lived one. However, at this moment of writing I don't see any signal to short this market yet (i.e. for short-term play).

I believe that market needs to test its previous low or making lower low than yesterday's low before any meaningful rebound to happen.

Market is ready for a quick rebounce or in a trading range. I don't see much edge for market to drop much further at this moment.

EWI is leading global market to sell-off. So far, it drops 6.39%