Cobra's Market View

TraderGirl wrote:

BullBear52x wrote:SLV the way I see it not trading it. but here is what I will do now.

BB how's the TVIX chart looking today...??? If we start to roll over soon, it may get a bounce...

>16.80 before I would think of buying it.

Cobra wrote:

Richarab wrote:

Cobra wrote:so far the rebound is weak, looks like a bear flag.

If the 5 waves up that you see overlapped is correctly labeled an ending diagonal, your target should be well exceeded. But I have come to know the salmon can be drained from the bear's stream quite quickly.

Cobra wrote:another way of measuring target, which I think is more trustworthy. overall, bulls are fine.

YIKES...that reminded me of Cramer's "Bear is fine".

Da banks aren't interested in selling off

SPY needs to bust yesterday's low

strong rebound. not sure if the low was in. the normal pattern would like this.

Cobra wrote:initial target reached. I said this target is trustworthy.

Cobra, do you think the morning dip would be bought again today? Thanks.

Cobra wrote:strong rebound. not sure if the low was in. the normal pattern would like this.

It is being bought. No need to ask anymore. Thanks anyway.

Petsamo wrote:Da banks aren't interested in selling off

this market has been on fire, but BAC and GS still have not made a higher high than Oct 28....

China, france
http://stockcharts.com/h-sc/ui?s=EWG&p= ... listNum=15

Pink ….http://www.youtube.com/watch?v=mW1dbiD_zDk

one thing missing for bears, no Neg D. on DBV

BullBear52x wrote:one thing missing for bears, no Neg D. on DBV

Baron:
Where’s the beef?
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =254800720

Commodities are dn 1.60, this is a good sign.Like to them dn more.Lets see.

BullBear52x wrote:SLV the way I see it not trading it. but here is what I will do now.

Nice BullBear!
Silver is a quite heavy metal! Gravity applies!

Nice P Bar on SPY to 137, sheesh

For those looking at the chart and trying to apply EW Theory, that middle wave before the drop is an overlapping 5 wave move. If that is right (it is) then the drop should have been a wave 1 down and this rally should not hold.

Now for the caveat. There is no such thing as a 5-5-5 wave. Never saw one in my life UNTIL 2009. I have often said EW is broken and even gamed by the algos. We held a parallel channel, which is common before a 3rd wave starts. For the bears to have control of the game it needs to close below this recent low. I have a 62% retracement at 132.71. We really shouldn't be able to do that much of a retracement with a 5th wave failure preceding a drop.

Al_Dente wrote:

BullBear52x wrote:one thing missing for bears, no Neg D. on DBV

Baron:
Where’s the beef?
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =254800720

not yet, it will show up today or tomorrow.

Perfect setup will be a doji candle today in a tight, rangebound day.

This is what happened at the last NegD, double top setup.

Then tomorrow is when the fun starts.

So I expect a doji today, without much movement in either direction.

Unique wrote:

RE: your chart with two channels...

The one on the left has a move up before that sharp drop looking like a slow, 3 wave move. This one in the middle looks like a 5 wave move. I guess we'll know by the end of the day if it matters anymore. It used to very much matter.