Cobra's Market View

so...did we fake a bearkout in the bear flag? I dont have my normal platform so im kind of fucked in trading today..... DaMN if we did.... Do you not just view this of a backtest after dropping out below the bearish flag. The FTSE had a rising wedge, fell out the bottom and went back to test, shoul...

Obama speaking now.. Done speaking....time to go down. Obama finished his new jobs start program, Dimon announces 30,000 job cuts at BOA, and the shares go up - go figure....LOL dimon is jp morgan, so i'm sure it was moynihan that you mean, but nonetheless, i'm going to say that smart money is goin...

StrikePrice wrote:

fuddleduddle wrote:Obama speaking now..

Done speaking....time to go down.

Obama finished his new jobs start program, Dimon announces 30,000 job cuts at BOA, and the shares go up - go figure....LOL

uempel, could you post the same 377 plot for now? (to better compare against the 2000 case). I'm a nice guy today :D - but please subscribe to stockcharts, it hardly costs anything... (I hope Chip Anderson does not read this...) MA3772011.png uempel, not really wanting to make you repeat yourself, ...

well, hopefully this is the 2nd leg down I talked. I expect at least yesterday's low to be tested. Cobra, using rough rule of thumb Maths, and relating to current FTSE picture, that would pull the FTSE back to approx 5000 level, which would meet a wave d of a triangle requirement, allowing for two ...

rola wrote:DAX DOWN 4 %!!!!

It hit 5.3% down for a few moments - over 300 points in less than 15 mins.

Cobra, could this give us an exhaustion gap for the end of wave c of 4 of Minor 1

Buffets $5Billion in BofA made a huge impact in the futures 15 minutes before the open. Maybe thats what he agreed with Obama. Divergence with the European indexes.

A couple of notes open for comment for those with more experienced eyes. The FTSE has retraced 50% of the largest wave (3) and fallen back. This could have completed a wave 4 abc expanded flat. If so however it would likely only be a wave 4 of a larger 3 yet to finish The Dax has fallen out/backtest...

Cobra, could tht be a cup and handle on the global ES?

STC wrote:Cobra, What is the exact target of the H&S pattern on SPY, you mentioned yearlier Nov 2010 low which is around 117.5 but it seems like the target is lower?

It may be that if 1175 falls, selling will pick up.

could this be a wave 3

Just a simple visual of how the charts do not correlate today.

Thanks Cobra for the continuing education in following the markets, and to the many others who contribute trades and charts. Just as an observation today, the Dax did not conform/confirm market moves today. The Dax/FTSE and S&P normally have very similiar intraday moves, having seperated from th...

Thankyou Cobra. great work. Have a good weekend.

99er wrote:ES
Update.
http://99ercharts.blogspot.com/2011/06/es_24.html

Thx 99er. I read from your chart, and looking at hourly chart for the FTSE we are heading back to yetserdays lows, do you see 1259 or 1249 as stronger support.

99er wrote:pdz:

Down.

Bear pennant.

Damn, no chart....!!!!!!!

They are quoting down volume at 90%, how does this impact your expected recovery play Cobra. Looks like they will continue down until Europe closes.

BillyRipken wrote:Maybe the IEA knows something we don't?

Yes, like they will be able to restock at $30/barrel after selling at $90.

JJS612: "allowing 99er a vehicle for his charts" Everyone, especially those new to TA, should post charts here. You can learn a lot from feedback (especially the negative ones). In order for this forum to grow to its potential, we must all contribute. Please pitch in. 99er, looking at you...