Cobra's Market View

The SnP 500 is up 27.2% over the past 118 sessions without a 5% correction. Since 2003, this is the 4th longest in duration, but the 2nd best percent gain during the rally(chart 1 below). In addition, according to sentimentrader.com, whenever:

1) The 7th day of SPY intraday range has been the tightest over the prior 7 days,
2) SPY has been at a 52 week high, and
3) Volume has been the lowest in a month,

the market has undergone a correction(Chart 2 below)

http://image.minyanville.com/assets/buz ... 779316.jpg
http://image.minyanville.com/assets/buz ... 779330.jpg

Courtsey: MinyanVille

Thanks for being the very first to post new thread!

http://www.screencast.com/users/rbharol ... 74ea781eb0

This is what I am expecting and it seems to be playing out.. Tomorrow will be important..

rbharol, it would be helpful to know what you are showing. Or are you just referring to the form of the line?

Thanks for being the very first to post new thread!

Hi, Tony Caldaro had a minor 1 wave at 1302.67. If minor 3=minor 1, minor 3 would be at 1431.67. Giving 20 points back as minor 4 and add 50% of minor 1 as minor 5, we will see 1476 as spx's top. Everyone agrees with that? Image can be seen at this address:
http://stockcharts.com/def/servlet/Favo ... =ID1606987
Thanks!