Cobra's Market View

Huge gap up like I was afraid. Yeah, this is market, it always surprises you. Normally such a huge gap should not be filled. Let's see.

The global ES hits the rising wedge upper boundary and hopefully could be a pullback of some kind here. I don't see it as 3 push up because all 3 ups are equal in strength so at least we should see another up with a little weaker strength before a meaningful pullback is possible, so yes, you know what I'm trying to see, the push up should at least 2 legged.

Good Morning.

So honey...what's the news?

http://www.99ercharts.com/archives/49

Not sure...still reading the cartoons.

So what's for breakfast?

ES http://www.99ercharts.com/archives/56

Hot MACD Cross buns?

Honey?

NQ http://www.99ercharts.com/archives/54

Could you serve them with Butter-flies?

[Too corny I know. GLTA.]

Good morning, Cobra!
UPRO: not again!
To convince me, it got to close above the morning high (#6)!
Can it do that? Probably not!

Cobra wrote:Huge gap up like I was afraid. Yeah, this is market, it always surprises you. Normally such a huge gap should be filled. Let's see.

The global ES hits the rising wedge upper boundary and hopefully could be a pullback of some kind here. I don't see it as 3 push up because all 3 ups are equal in strength so at least we should see another up with a little weaker strength before a meaningful pullback is possible, so yes, you know what I'm trying to see, the push up should at least 2 legged.

1.png

"Normally such a huge gap should be filled. Let's see." Should or Should Not be filled? Remember you usually say gap may not be filled after huge gap up. just curious..What makes the difference this time?

Good morning folks!!

Okey, now I know again that fighting with the invisible hand is not a good thing ...but...I am very patient person and the old phrase says: the one who laughs last laughs best

Cobra wrote:Huge gap up like I was afraid. Yeah, this is market, it always surprises you. Normally such a huge gap should be filled. Let's see.

The global ES hits the rising wedge upper boundary and hopefully could be a pullback of some kind here. I don't see it as 3 push up because all 3 ups are equal in strength so at least we should see another up with a little weaker strength before a meaningful pullback is possible, so yes, you know what I'm trying to see, the push up should at least 2 legged.

1.png

Morning Cobra, I thought you will only add to bull position if it opens high and goes higher? Might open high and go lower? Never know with this market.

The Chinese New Year trade goes on! Staying long with FXI Feb 37 C, as previously discussed .
It appears that the Water Dragon was injected with some 100B Yuan…which he enjoyed a lot!

Cobra wrote:Huge gap up like I was afraid. Yeah, this is market, it always surprises you. Normally such a huge gap should be filled. Let's see.

The global ES hits the rising wedge upper boundary and hopefully could be a pullback of some kind here. I don't see it as 3 push up because all 3 ups are equal in strength so at least we should see another up with a little weaker strength before a meaningful pullback is possible, so yes, you know what I'm trying to see, the push up should at least 2 legged.

1.png

So you will long at open?

q2model wrote:

Cobra wrote:Huge gap up like I was afraid. Yeah, this is market, it always surprises you. Normally such a huge gap should be filled. Let's see.

The global ES hits the rising wedge upper boundary and hopefully could be a pullback of some kind here. I don't see it as 3 push up because all 3 ups are equal in strength so at least we should see another up with a little weaker strength before a meaningful pullback is possible, so yes, you know what I'm trying to see, the push up should at least 2 legged.

1.png

So you will long at open?

will see after 10am ET.

I am expecting correction to 1290

Good morning all, thanks for the updates. Apparently SPY has only opened >+0.5% only twice after MLK day. It didn't gain >0.3% for the week either time ha!

the open.

KeiZai wrote:I am expecting correction to 1290

Sentiment trader: "Only twice before has $SPY opened >+0.5% after MLK day (1999 and 2002). Didn't gain >0.3% rest of week either time"

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Cobra wrote:Huge gap up like I was afraid. Yeah, this is market, it always surprises you. Normally such a huge gap should be filled. Let's see.

The global ES hits the rising wedge upper boundary and hopefully could be a pullback of some kind here. I don't see it as 3 push up because all 3 ups are equal in strength so at least we should see another up with a little weaker strength before a meaningful pullback is possible, so yes, you know what I'm trying to see, the push up should at least 2 legged.

1.png

You mean "Normally such a huge gap should be filled. " or should NOT be filled?

Nice KeiZai, sometimes they give interesting freebies. 99, your crude update was also /HG, love the charts though!