Cobra's Market View

$125.70 to $125.79 is support. That means anything below and we short the hell out of this 5 day rally.

tdo722 wrote:$125.70 to $125.79 is support. That means anything below and we short the hell out of this 5 day rally.

That is my plan since my pilot short this morning blew up on me.

$DAX lead (vs. SPY) on the way down and shows two strong bars back up on 5 minute

Heavenskrow,

After diving in the Cayman I got distracted (missed the last down leg). But I can't complain. I'm hoping to get set up again for when I go back to Cayman this coming week.

I have not been reading your site the last few weeks but glanced back over today. Interesting chart on ERY. I started doing some comparisons and came up with a very similar chart to TZA.... Thanks for coming back to Cobra's site. I missed your comments and charts.

Supporting the diving theme... Because Narcosis is a state of mind and going down is a way of life...
http://www.youtube.com/watch?v=BrwYb8WOkb0

OR low as support, hopefully some rebound here. so far everything goes as planned.

tdo722 wrote:$125.70 to $125.79 is support. That means anything below and we short the hell out of this 5 day rally.

There you go. Time for you to short the hell outta this rally.

biggest volume bar on 1min spy... rebound of somekind right at the LOD ... of the morning...

see lots of positive bull possibilities, but who is holding long over the weekend? yellow line need to hold for today.

Cobra wrote:OR low as support, hopefully some rebound here. so far everything goes as planned.

Yes as planned, close long at morning high...thanks..

Cobra wrote:OR low as support, hopefully some rebound here. so far everything goes as planned.

Did I miss sth. what plan?

Petsamo wrote:

tdo722 wrote:$125.70 to $125.79 is support. That means anything below and we short the hell out of this 5 day rally.

There you go. Time for you to short the hell outta this rally.

I put in a sell stop $125.50 to be safe, lol, I'm chicken.

Xian, Al_dente posts a 1 min chart from time to time. It helps and is very useful to follow the moves of the market. Gives excellent signals, if you use it together with some kind of support/resistance scheme you'll be ok. If you've got a subscription to stockcharts you can "steal" Al's chart...

Update:

And $DAX goes back down....

just need a bit more push, bears.

Watch XLF it has been climing up all morning now correcting a bit.If it stays up the mkt will have a hard time moving lower.IMHO..PS.Just dropped to 12.99 if drops another 10/15 points then things can change.If it holds we could go up.

this chart is worrisome.

totally recovered from the bank intervention.

BullBear52x wrote:see lots of positive bull possibilities, but who is holding long over the weekend? yellow line need to hold for today.

Hi bb52x,

I hope you don't mind if I ask you this. Do you buy based on your RSI/MACD signal? Or based merely on your yellow lines?

I mean, for example, you sell if RSI is below 50?

UUP and TLT clearly lead this rally to the south side.

Failed bull target, now let's see bear target at $125.21. I have no statistics about the winning rate, so let's wait.

I posted this chart yesterday, see the RSI, it reverse back and still above 50 line, so bears will have to wait a little longer. I am looking for a pull back but not bearish unless the lower yellow line shown here is breached, longer term chart I see really unique possible bull pattern but that's mid to long term, Dr. Al stuff