Cobra's Market View

Must report that we exited the hourly OS sell signal at 11:30am EST this morning, which is not a great sign. We were tied for the longest hourly OS period that I have tracked and all of those had much more robust bounces - Oct 3rd and Sept 21st were the most recent very extended hourly OS periods.... and they both had big three day bounces with at least a 3 day 30 SPX pt bounce.....

This is by far the weakest bounce we have had.... The last 4 years we have bottomed on the Monday after Thanksgiving, so Mr. Market may just be waiting till then..... This is definitely the LONGEST period post opex that I have tracked without a bounce of some significance.... at least 20 to 25 points, especially when we have been this oversold....

Well, in the future when I talk about opex turning points, I will definitely need to say going forward that there was at least one exceptional exception! even in June 2008 when we fell relentlessly, there was one small 30 pt SPX bounce post opex....

Have a GREAT holiday weekend!

-D

Cobra wrote:30 min to close, let's pray for bears sake, at least gives us one green day, pleaseeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee!

do you mean, if today close in green, then bear will have better chance to hit market in next week ?

Cobra wrote:30 min to close, let's pray for bears sake, at least gives us one green day, pleaseeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee!

why pray for bears. they ve been fatten up for so long. plus they are going to hibernation soon. it is the bulls that need to eat now

Because it is a slow day, here is 1-min chart

thanks God, someone's listening to my pray. But I'm afraid, this is 2 legged down at least, so the push up is not strong enough to avoid a possible 2nd leg down.

Happy Thanksgiving, folks!

http://99ercharts.blogspot.com/2011/11/ ... iving.html

Have a good one.

CH37 wrote:

Cobra wrote:30 min to close, let's pray for bears sake, at least gives us one green day, pleaseeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee!

do you mean, if today close in green, then bear will have better chance to hit market in next week ?

SPX down 6 days in a row, if red again, that'd be 7 days, so that's why bears want a green day. The low wasn't in, that's the higher odds, no matter today's green or red.

Cobra, you Martians are good lobbyists!

99er wrote:Happy Thanksgiving, folks!

http://99ercharts.blogspot.com/2011/11/ ... iving.html

Have a good one.

The new RONCO Pepper Spray Baster - the new turkey roasting sensation! Order your own, right now!!!

If you haven’t read the Steve Jobs biography, here is a visual synopsis. Save for later, it’s 13 minutes long (no joking):
http://www.youtube.com/watch?v=dMOxYNUk ... re=related
“That’s been one of my mantras — focus and simplicity. Simple can be harder than complex: You have to work hard to get your thinking clean to make it simple. But it’s worth it in the end because once you get there, you can move mountains.” [Steve Jobs, BusinessWeek, May 25, 1998]

http://www.youtube.com/watch?v=rLqj7kzR ... re=related

They just shot that fat bastard Santa...

Cobra wrote:

CH37 wrote:

Cobra wrote:30 min to close, let's pray for bears sake, at least gives us one green day, pleaseeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee!

do you mean, if today close in green, then bear will have better chance to hit market in next week ?

SPX down 6 days in a row, if red again, that'd be 7 days, so that's why bears want a green day. The low wasn't in, that's the higher odds, no matter today's green or red.

Agreed. green BF & Cyber Monday, mean bad news for bull.

uempel wrote:Cobra, you Martians are good lobbyists!

The attachment pls.png is no longer available

Dropped again. I'm sooooooooooooo disappointed.

Hopefully a double bottom here. the next bar will tell, looks promising for bulls, but bulls need a H1 here.

Intraday scalpers only… have a bit of a sell signal on ZSL into the close.

THANKS COBRA for another great week.
And Happy Holidays to all.

We have a double bottom on SPY & IWM

uempel, how do you duplicate objects in StockCharts?

it's H1 long and possible double bottom, looks promising. praying.............................

CH37 wrote:

Cobra wrote:

CH37 wrote:

Cobra wrote:30 min to close, let's pray for bears sake, at least gives us one green day, pleaseeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee!

do you mean, if today close in green, then bear will have better chance to hit market in next week ?

SPX down 6 days in a row, if red again, that'd be 7 days, so that's why bears want a green day. The low wasn't in, that's the higher odds, no matter today's green or red.

Agreed. green BF & Cyber Monday, mean bad news for bull.

We need 1.5-day bear flag

newbies might not understand what I see "double top/bottom" which plays essential part of my intraday call because you Earth people always like to try twice. Here's a simple illustration of double. Hope that helps.

COBRA and All.. Have a great weekend..I will wait until next week to see about going long..Everything looks like it is shaping up for it.