Cobra's Market View

fighting the low, hold your breath. hopefully this volume surge could help bulls

Looks like a triangle holds here at 133.75ish or you are about to see a wave 3 lower

target.

volume surges again, time time might help bulls, we'll see.

TRIANGLE DEAD


I'm not saying they won't drive it up and be something else in a corrective pattern, but wave D can't be longer than wave C and now it is.

aapl might break down too, as I said, you don't want to see the consolidation above any support. http://stockcharts.com/public/1684859/c ... /260183775;

I’m watching for bot volume buying (its all selling now)
Or bears short covering (not yet)
Unless we get either of those
this is looking a bit crash-like (by that I mean: nothing can stop them except bots or short covering?)

volume keeps surging, so still think a rebound is possible here but since the damage is done so the rebound NORMALLY would fail.

SWalsh wrote:TRIANGLE DEAD


I'm not saying they won't drive it up and be something else in a corrective pattern, but wave D can't be longer than wave C and now it is.

So what you're saying is it's wave "Double D" now???

Still smiling all the way to the bank

bot buying one minute ago
(volume, 1min)

let's take a look at this descending triangle break down one more time.

wow, another big volume bar, must be some bad news.

1min, 1 day

by the way, my from high to low 6.5%+ pullback is officially fulfilled at this moment. It worked since year 2000, no exception.

again, rebound maybe, but NORMALLY it shall fail, the damage is done. Check the adjust point I reported in yesterday's Market Outlook.

lower trendline?

Mr. T wrote:

SWalsh wrote:TRIANGLE DEAD


I'm not saying they won't drive it up and be something else in a corrective pattern, but wave D can't be longer than wave C and now it is.

So what you're saying is it's wave "Double D" now???

LOL...Well, how old are those Double Ds now?

Here's the most relevant pattern as I have been seeing it. No reason not to think it's the most valid objective. PLUS, almost every guy who thought counting waves is simple and all you need to do is post corrective waves because it's always going back up thinks we would have only a slight decline (or even finished last week)and be much higher now.

Before one looks at this chart remember the FIRST rule of trading: ANYTHING CAN HAPPEN which is another way of saying NEVER BET THY WHOLE WAD!

P.S. Don't tell anyone, but it might be STFR time!

Looking for SPX 1250 this summer.

seems 1320 would be a reasonable bounce target.