blue line must hold, otherwise there's a chance the rebound is over (intrady rebound) as breakdown below the blue line would be a small double top.
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shumushu wrote:Cobra, this AM. My father gave me a call and he said this " Some professional trader guy named Cobra said the SPX target is 1175" on Wenxuecity. He recommended I close my longs there. I was like !?!? can this be the same Cobra? so popular
yes, the same Cobra. But I never posted anything there in Wenxue city. Got to be someone forwarded my post there. I think my site which is Hutong9.net is the rival of the Wenxue city, therefore my posts are forbidden there even forward is not allowed, so the post will be removed pretty soon I guess.
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by the way, I don't have good feelings here for bulls, wish I were wrong. I'll explain why when indeed breakdown and we pullback to test the day's low.
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Cobra wrote:by the way, I don't have good feelings here for bulls, wish I were wrong. I'll explain why when indeed breakdown and we pullback to test the day's low.
well, cannot breakdown, then chances are high it'll breakout and the day's high will be revisited.
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Here is what I see..A trend line from 1340+/- dn thru 1210 +/- dn to 1170 todays hi.If this holds then 1170 is our new lower hi.Then a retest of 1120 is in order.If we break out like Cobra shows then all bets off.Wait and see.
breakout as I said, but we need wait for a few bars to see if this is a real breakout.
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key time, cannot decisively breakout then the rebound is in danger. let's watch.
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