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Drops to 1095 and goes up 1180, it looks like another diamond bottom chart pattern as previously formed. I am not a chart patteren experts. What is chance this haapen again????????trader0303 wrote:According to your chart -- where are you looking for that to come?99er wrote:Bounce coming?
SPX http://99ercharts.blogspot.com/2011/08/spx_7662.html
It sure doesn't. However, got one bottom signal on SPY 60min. 1 is better than none I guess..Me XMan wrote:Not looking good here guys...SPX 1136
Don't think it matters now. Two issues: 1) Other things driving the market; 2) the open interest has got to be very dynamic right now. Current open interest must look nothing like yesterdays figures by now.Tabby wrote:Mr. BachNut,Mr. BachNut wrote:Is it me or do the volumes seem a bit light for a crashy day?...
What is max pain for tomorrow opex? I am not an option trader. Is it still 118-120? does it matter now?
su_root wrote:It sure doesn't. However, got one bottom signal on SPY 60min. 1 is better than none I guess..Me XMan wrote:Not looking good here guys...SPX 1136
99er wrote:trader0303
Possible bounce on SPX; target around 1171.
http://99ercharts.blogspot.com/2011/08/spx_4441.html
just to my curiosity, r u the crossing guy from cobra's chinese website?Me XMan wrote:Not looking good here guys...SPX 1136
thx. you can add philly fed absolutely awful to the list. currently next month under 50 ism is a certainty. however, the signal appeared when we broke the 1250 bottom of the march, june corrections. i'm now quite confident the US is already in recession together with most of europe, Brazil and Australia. the only relative bright spot is japan which is contracting *less* than expected. it is my belief we will breach the 1010 bottom of last year. the market's fair value is around 900, but usually bear markets overshoots downward. the true bull market will appear when shiller's CAPE is single digit and profit margins are well below average. currently profit margins are about 70% ABOVE average, so we have a long way to go.soku wrote:paging "ocassional observer"
i think it is time to revisit these after today's data (i typed these points word by word)
john hussman's list of conditions:
· 10 yr treasuries below 6 month ago-V,
· spread 10 yr-3yr bonds smaller than 3.1%-V,
· ISM manufacturing under 54-V,
· nonfarm payroll growth less than 1.3% from a year ago-V,
· a widening in spreads between corporate and treasuries from 6 months ago ( barron's confidence index as proxy)-V
· and the last- equity markets lower than 6 months ago- on the verge.
anybody has connection with this guy, pls call him back.
Cobra puts the accumulation/distribution charts of the players up quite often early in the morningalvian33 wrote:cobra do you follow big money what they are doing? I think it's interesting to see if they buy the dips, as they are the once who drive the market, if so can you share with us? thanks