Cobra's Market View

Primary Count Wave 5 Ending Diagonal. Boy they all seem to end this way lately. No reason it can't reach above 1,300 before we get that larger correction all the Bears here hope for. Wouldn't be surprised if we then make a 3-3-5 Flat with the 5 around OE since that has often produced the short-term ...

Hey Guys, My Primary count has it likely we ended the correction today and will head WAY higher with a big NFP day tomorrow. On the flip side we could have one more leg down to fool Bulls and trap Bears before we try much higher. I like the way individual stocks are moving now that volatility has se...

Happy New Year!

Primary count remains on track in a Wave 3. I have the S&P currently in wave 5 of wave 3 but we really won't know when wave 3 is done until we get a stronger 2 legged correction.

Me XMan wrote:Market could have a dip tomorrow and give it another go?

StrikePrice wrote:Last 1/2 hour can always be tricky. I reduced my position at 3:30 and likely short a little for fun.

I'm expect a backtest of 123ish area of SPY and then another go. Bottom line didn't hurt to buy a small put when SPY was above 124.

Last 1/2 hour can always be tricky. I reduced my position at 3:30 and likely short a little for fun.

I love getting to sleep in because the market already gave me the buy signal. Positive D on ISEE was a confirmation to my signal and the /ES moving back above 1,206 had me turning off the alarm. Clear 21 waves down for EW fans which me know creates a great trade point with at minimum 2 waves up. I ...

I love getting to sleep in because the market already gave me the buy signal. Positive D on ISEE was a confirmation to my signal and the /ES moving back above 1,206 had me turning off the alarm. Clear 21 waves down for EW fans which me know creates a great trade point with at minimum 2 waves up. I s...

If you want to just see Cobra's posts than click on his name and then click on "Search user's posts". Keep refreshing that page. Not sure if that works on mobile so even better use Twitter. I'm not around so much now that Cobra created the Twitter feed, less distraction with the tons of gr...

An idle Friday afternoon daydream of an evil plan... I noticed in a chart Bullbear52 posted a few minutes ago that a modest rally in the days ahead could set up an inverse head and shoulders on the SPY. White Chart. If such a thing unfolded, it would come near the apex of a mega symetrical triangle...

janez wrote:For this market, day trading is much easier than swing. I must say

That's why I've been swing trading with ETFs and day trading with options. So i can leverage the easier trade. When I was swing trading with options the gaps were so difficult to handle.

Friends, Don't know if this has any significance, but I saw a clear p-bar on the 15 min. candle chart, to 122.94, near the top of the hour (1:00 pm). It was there until the next bar started, so I'm leery of it's meaning. But, taken in conjunction with Uempel's call for a 13:30 move, I took a punter...

Not sure if this is Wave 4 of C of the 3-3-5 Flat or we already completed C. I guess it will depend on when the explosive move higher comes (lower low or not). If I 'm wrong, I'll really wish I didn't just close my short.

I don't believe in EW, but man, I hope I nailed the 3 either up or down W3. keep it coming EW guys I profit from it. I vote YES! My two cents: But the biggest problem is...most people just don't "get it"... Elliott Wave and Elliott's findings are SO MUCH MORE than the financial markets. T...

It's about that time to find out if the market will be naughty or nice.

Cobra wrote:now with this pullback, it's clearly overlapping or ZigZag up so it's a corrective up in nature. not good. I'm disappointed.

Don't be disappointed yet Cobra, It might be a Wave 2 Flat. Best to make the Bears drool first, before yanking away the meat.

If we make a higher high on $SPX before falling below 1,227.43 I'm out of my shorts and in the BULL camp.

Hey Guys,

Been super busy so holding longer rather than day trading as much. Still have my Primary Count aiming for a little lower around 1,203 at least on SPX. As usual Op Ex week looks like it will mark a turning point (at least expect it will again).

1,209 on SPX looks to be a Fib confluence area:

38.2% of October rally
61.8% of November sell-off
50% of December rally

If 1,209 pivot breaks 1,168 pivot will likely be tested. i.e. Cobra's evil plan.

/ES needs to not breakdown now for BULLS to stay alive.

1 min http://stockcharts.com/h-sc/ui?s=SPY&p=1&yr=0&mn=0&dy=2&id=p20945081502&listNum=15&a=250028427 note bull TNX move just in the last few minutes Finally realized why I have the yellow line on stockcharts, it's because I'm a basic member and just get the bats data. Fr...