01/10/2012 Intraday Watering

[Cobra]

First of all, that $10 per month deal for my daily report at http://www.cobrasmarketview.com will be expire on Sunday Jan 15 and will never be available, so if you haven't made up your mind, it's the time now.


Well, here comes the blow out on the upside that finally makes my call look stupid, well, this is called experiences. If someone could make a comment after the bell, saying, hey, Cobra you're too bearish biased, focus on the big picture! That'd be perfect. And also this is called experiences.

Huge gap up above yesterday's high so chances are the gap won't be filled.

The global ES had a clear breakout (FINALLY!). The text book target is illustrated on the chart. Let's see how today unfolds. Don't short, trade with pure heart, up is up, down is down.

[99er]

Good Morning.

Coffee, honey?

ES http://99ercharts.blogspot.com/2012/01/es_10.html

Sure. Great with fractals.

GLTA.

[Al_Dente]

Good morning
Cobra: Thank you for another excellent overnight report.

LONDON, Jan 10, 2012. 8:42 am (Reuters) – “Gold rose towards $1,640 an ounce on Tuesday and other precious metals rallied as a rebound of the euro versus the dollar made dollar-priced assets more attractive to holders of other currencies and after bullion breached a key chart level.
Gold's rise above a 200-day moving average [? this morning?], which gave way in mid-December, at $1,634 an ounce prompted fresh buying, with technical analysts saying a close above this level could spark fresh momentum for the metal, which fell 10 percent last month.
Spot gold was up 1.6 percent at $1,637.15 an ounce at 1323 GMT and has climbed nearly 5 percent ...”

[proteus46]

In pre-market, SPY is hesitating near the October high.

Not implying anything, just noting some resistance.

[99er]

So what should we do today?

NQ http://99ercharts.blogspot.com/2012/01/nq_10.html

Ski jumping?

[jarbo456]

if i'm reading Uempel and the BP charts he posts up every night on Cobra's paid commentary correctly, then Dow Industrials have sped right up to their overbought levels, above the Oct. highs. however, it's really the ONLY Bullish Percentage chart that a bull could be worried about. the others look merely long and strong. BPINDU has shown it's ability to stay overbought for an extended period of time during the Oct rally as well...staying at 80% for about 3 weeks, while the other indexes started to bleed off, especially after the nasty drop off in in the beginning of Nov.

[99er]

But what about breakfast?

EURUSD http://99ercharts.blogspot.com/2012/01/eurusd_10.html

Care for fondue?

[Al_Dente]

New “Ned Davis Research” chart on European yields and spreads
http://screencast.com/t/cdzSxX7iNwu

[johnnywa]

There is a big turndate tomorrow,we should not bust 12550 if we are going down.If we break than look for 12875.Dollar needs to strengthen

[waverider]

Hmm...

"China’s stocks regulator will “actively” push pension and housing funds to begin investing in capital markets, and encourage long-term investors such as insurers and corporate pension plans to buy more shares."

http://www.businessweek.com/news/2012-0 ... -ease.html

[dcurban1]

Greece Nears its Endgame

http://www.atruecontrarian.com/2012/01/ ... dgame.html

Technical Analysis – January 10, 2012, Copper

http://www.atruecontrarian.com/2012/01/ ... -2012.html

I have to check my notes but the turn date coming up is a sideways move before the uptrend resumes.

[Cobra]

the open.

[johnnywa]

Greece Nears its Endgame

http://www.atruecontrarian.com/2012/01/ ... dgame.html

Technical Analysis – January 10, 2012, Copper

http://www.atruecontrarian.com/2012/01/ ... -2012.html

I have to check my notes but the turn date coming up is a sideways move before the uptrend resumes.

Yes you better check should be BIG reversal

[Al_Dente]

the open.

Too stretched Boss?

[SB73]

This has been the practice of late run up to resistance and then gap it the next morning. In retrospect the $DAX bull flag was a screaming signal. Looks like some more early morning stregnth, but I sense the gap will be fired at today or tomorrow...not fighting just observing.

[Petsamo]

UNG is in a triangle on the daily. I wish I knew where this thing will go.

[Al_Dente]

Oy, NYADV 2400 right out of the gate.
Internals as usual at 10:00ET after nyadv and nydec have had their first cup of coffee.
For now, wake up call:
http://www.youtube.com/watch?v=oglueOxX ... re=related

[jarbo456]

to the someone who posted a VIX chart yesterday with what looked liked fib time sequence circles...

VIX seems to have reached your target price target.

[Cobra]

ascending triangle target.

[Me XMan]

I can't feel my balls

This has been the practice of late run up to resistance and then gap it the next morning. In retrospect the $DAX bull flag was a screaming signal. Looks like some more early morning stregnth, but I sense the gap will be fired at today or tomorrow...not fighting just observing.