Cobra's Market View

On dow futures, was stopped by pivot. would like to see a some form of retest to take a short position intraday. Went long USDCAD becasue of a small double bottom, only fly in ointment is gold looks like its in an intraday inverse H&S. so if DX starts rising might put some wind in bear sails.

The dow futures bounced of its pivot 12747 to the point,

intraday high on KBW ETF , not exactly screaming sell

the pullback as I see it, this is futures not cash

EURUSD double top at the 78.6

dollar might just have had a low for today, EURUSD pinged that 78.6 to the pip.

the was a double top in SPX futures now and about 2 hrs ago , might see a little pullback

EURUSD is just at .786 of high from 09

koolblue wrote:the cycle says when... hopefully!...

out of curiosity, do you class a double bottom as a secondary low? and is the SL normally your entry point?

SPX futures at .786 of todays range globex

1331.9 on the futures is the 88.6% for the last few weeks, it is stopped there so far today twice, looks like it wants to poke through at the same time

the last 40 min or so has an Ending Diagonal look about it?

EURUSD found support at 38.2% for the day, might give some support for stocks

You can see the fib support from the Futures, the robots know where to stop

on the futures SPX found support at the .786 for the days range. I had the sell at the high but see some non confirmations on 1 min chart but nothing on a 5min yet. Its just bouncing off intraday retracements for now

Travelfrog wrote:silverharp? What average do you use for the envelope centreline?

89 (hat tip to Fib) , it suits the envelope lines better.

Travelfrog wrote:

silverharp wrote:Per ealier comment about 786

Silverharp, what is the channel that you are using?

just my chart on the wrong timeframe , its my intraday chart which is set to 5min with a series of envelopes but they bunch up on a 1hr timeframe

Per ealier comment about 786

on Spx futures 1314.50 was the .786 from the high on the 4th Mar.