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Hooney, hooney... "Ou sont les W.C.?"99er wrote:Good Morning.
So honey...are you reviewing your phrase book?
EURUSD http://99ercharts.blogspot.com/2011/09/eurusd_14.html
"Ou est le W.C.?"
While it may not be a new "bull" trend, it may be the beginning of a sideways consolidation with several months of range trading in which we do not take out the low established in August. A new "bull" trend would then take off from the final low in that sideways trend from about this same level. Given the negative sentiment, this seems an even odds possibility against the probability of a new low before the end of the year.Cobra wrote:Gap up along the yesterday's high so hard to guess whether we'll have a trend day or boring day. Global ES only proves what I said last night, SO FAR, the rebound is the weakest because the 3 pushes we have obviously are overlapping, this NORMALLY doesn't look like a start of a new bull. You also can compare the rebound from 09/06 to 09/07, it was a straight up, look at what we have now, it's obvious, isn't it?
I couldn't agree with you more, cobra. But, I still think the bulls will take a shot at the 1185 gap before they give up. I'm looking for some selling at the bell to close any gap made this morning and then a push up to at least challenge the overnight high on the ES at 1176ish and only a few points more to get to 1185 (cash). Then, we'll see if the bears want to wake up again --- or if they want to suffer a squeeze up higher.Cobra wrote:Gap up along the yesterday's high so hard to guess whether we'll have a trend day or boring day. Global ES only proves what I said last night, SO FAR, the rebound is the weakest because the 3 pushes we have obviously are overlapping, this NORMALLY doesn't look like a start of a new bull. You also can compare the rebound from 09/06 to 09/07, it was a straight up, look at what we have now, it's obvious, isn't it?
Don't you know that the bond market is always wrong.......Mongoose wrote:Here is an example of the CDS market frontrunning an event -- pricing a 98% probability of a Greek default -- which equities are ignoring.
http://www.alsosprachanalyst.com/econom ... pdate.html
The last time equities ignored such signals was back in 2008 which Paulson was too happy to take advantage of.
I think the /ES reacts to what Asian and European markets are doing, so I don't think the overlapping applies at all to the cash market. But if you believe China leads (it topped in April before the S&P) then yes we need China to breakout before a new Bull can be called. The EOD reversal in China was nice and Europe is looking good, but we still have a long way to go....Cobra wrote:Gap up along the yesterday's high so hard to guess whether we'll have a trend day or boring day. Global ES only proves what I said last night, SO FAR, the rebound is the weakest because the 3 pushes we have obviously are overlapping, this NORMALLY doesn't look like a start of a new bull. You also can compare the rebound from 09/06 to 09/07, it was a straight up, look at what we have now, it's obvious, isn't it?
stucap wrote:Don't you know that the bond market is always wrong.......Mongoose wrote:Here is an example of the CDS market frontrunning an event -- pricing a 98% probability of a Greek default -- which equities are ignoring.
http://www.alsosprachanalyst.com/econom ... pdate.html
The last time equities ignored such signals was back in 2008 which Paulson was too happy to take advantage of.