If you're StockCharts member, please do me a little favor by "vote" and the most importantly "follow" my public chart list here: http://stockcharts.com/public/1684859/tenpp. You need "follow" only once but vote can be done every 24 hours, so whenever you have time, please vote for me, thanks!
Gap up above yesterday's high so chances are the gap won't be filled.
The Global ES is testing the resistance, I believe the rebound is at least 2 legged.
Attachments
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
KENA wrote:Interesting way to look at it..Looks like per your chart we can still expect some choppy mkt and more dn short term.??
The cycle bottomed yesterday afternoon. If you believe in alternation, the previous low's late arrival would argue that a premature low makes sense this go round.
Cobra could you please review a 5 minute chart of BBY for me and tell me what you think? I went short yesterday at the close because of their breakdown and so far things are working out.
I'm seeing down then sideways which I've learned from you usually means the trend down will continue. Thanks for your work here.
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
Nyadv opened >2000 then gave it up rather quickly, not a good sign for bulls, then back up and touched 2000, now 1800 ish.
I can’t trust the bulls until adv stays above 2000.
PS: can someone give me an update: is today the last day of “window dressing” or what?
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
L_T wrote:Cobra could you please review a 5 minute chart of BBY for me and tell me what you think? I went short yesterday at the close because of their breakdown and so far things are working out.
I'm seeing down then sideways which I've learned from you usually means the trend down will continue. Thanks for your work here.
close 50 stores and lay off? what? my wife like to shop there.
My comments are for entertainment/educational purpose only. NOT a trade advice.
L_T wrote:Cobra could you please review a 5 minute chart of BBY for me and tell me what you think? I went short yesterday at the close because of their breakdown and so far things are working out.
I'm seeing down then sideways which I've learned from you usually means the trend down will continue. Thanks for your work here.
close 50 stores and lay off? what? my wife like to shop there.
They are a showroom for everything people actually buy online. Plus those mega stores are too big---cost per square foot to run them too high.
That didn't have anything to do with my trade though. Strictly chasing a breakdown.
Bears seem to have a chance here - AMAZINGLY - we had followed last Thursday - Friday's pattern pretty well....
Today, the gap up failed (unlike Monday) and if the Bears can press their advantage we may see weakness in to early next week....
ALL of the DIP BUYERS have come in on early weakness - maybe that is still the case.... but most of the time it has occurred when we have opened with a gap down or basically unchanged. I follow the MID fairly closely and this is the first UP GAP since the 15th of Feb that faded so badly so early on - that could bring a test of yesterday's lows later....
Adding to long POT 45 calls right here. I am bullish right to 1440 on the SPY. Good luck to All and I hope some of you join me before we arrive at the target. Carryon! jimme