Cobra's Market View

Flat open, plus most gaps after a Major Distribution Day get filled the same day, so the gap if any could get filled today.

The Global ES looks like a Bear Flag in the forming, so we may continue down sometimes later. Noted the ES is on the support area.

Good Morning.

EURUSD http://99ercharts.blogspot.com/2011/10/eurusd_18.html
ES http://99ercharts.blogspot.com/2011/10/es_18.html

GLTA.

Good morning Cobra!
This is an update and magnification of a chart published during the weekend. It further develops a SIMPLE “wavy-gravy scenario”, submitted then.
If we do not stop our drop here, (~1196) we should slide down on corrective WAVE B (green) which, in turn, could be dissected into an “a-b-c” formation (magenta), where a=c, approximately. Their putative levels are marked on the chart. The final target of the formation should be in the zone 1150(high) - 1142(low).

If we stop here and gyrate senselessly for a while, the Elliott Wave theorists would probably call for complex zigzags, “expanded flats” or other exotic formations which, IMHO, hide their inability to punctuate price movements.

Was there a Phantom Bar yesterday, I am showing one on TD ameritrade for SPY up to the 122.60 area

hey guys. confusing action in /cl but i am going with the flow. we closed the gap from yesterday and i am long 1 penny over at 86.39.. holding until we get near 88, the overnight high from yesterday . good luck. ( short squeeze ? )

bubba22 wrote:Was there a Phantom Bar yesterday, I am showing one on TD ameritrade for SPY up to the 122.60 area

It isn't present on ScottradeELITE. Martketwatch.com has a phantom bar, but it isn't in the same location.

Good morning all
They keep updating this site "Tracking Europe's Debt Crisis"
http://www.nytimes.com/interactive/busi ... &emc=tha25

Cougar,
Wow, great charts and maps for future. Well done. Thank you for sharing it with us.

it looks like we saw some support on the 38 fib level on EUR/USD on the first couple of tries to drop below it overnight. there's a pretty definitive doji (falling star) forming this hour on the EUR/USD chart - if we can complete it, we should expect some follow through droppage.

the open.

IBM hurting the Dow.

paging al_dente

would love to see the internals once you get that chart set up!

oh yeah, and btw, good morning and hope you're well.

SPX
http://99ercharts.blogspot.com/2011/10/spx_18.html

Setting up for a boring range day?

RUT
http://99ercharts.blogspot.com/2011/10/rut_18.html

Yup.

jarbo456 wrote:paging al_dente
would love to see the internals once you get that chart set up!
oh yeah, and btw, good morning and hope you're well.

Jar: am gone 4 rest of day …u hold the fort down…. u post internals update?….don’t let anyone get too mean here….

Here internals … then one last post just 2 to bait BB52x… then I gotta run
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =246007758

something is off. i sold out of my /cl long. looks like this was just a "kiss of death" at the previous trendline running from 83.30 + 85.90.

cougar

Great chart!

Al_Dente wrote:

jarbo456 wrote:paging al_dente
would love to see the internals once you get that chart set up!
oh yeah, and btw, good morning and hope you're well.

Jar: am gone 4 rest of day …u hold the fort down…. u post internals update?….don’t let anyone get too mean here….

Here internals … then one last post just 2 to bait BB52x… then I gotta run
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =246007758

yessir!

Thanx 99er!
Hope THEY follow a SIMPLE and tade-able scenario!

cougar you would have made leonardo da vinci proud with those charts