Cobra's Market View

Looks like some stiff resistance for the Q's coming up.
50dma just above, 61.8fib just above that, and, if this is a corrective move, A almost equals C if it's a three wave.

Sharp drop before close then my plan will carry on tomorrow - i.e. the weakness will continue tomorrow as it could be the 3 push up pattern again. Just a wild guess as you know I don't trade against the trend which now is still up.

Fritz Baxter wrote:Looks like some stiff resistance for the Q's coming up.
50dma just above, 61.8fib just above that, and, if this is a corrective move, A almost equals C if it's a three wave.

NDX stopped right at the 50ma - overall the daily chart looks bullish and it has moved higher durring the day.

spx is going to retest the 1308 fractal or thereabouts

close above 1308 to be sure

DCS wrote:I enjoy reading this board for the wealth of information, excellent charts and perspectives, etc.

Why anyone would want to ask someone else if they were actually trading their views, or accuse them of intentionally misleading others, is beyond me.

If you don't like my comments, skip over. Same for any other poster. No need to flame or bash.

Kudos to 99 for not stooping in response.

Good trades to all.

Some poeple thinking if you are longs, whatever the Bears said is BAD! or vise versa, didn't poeple know that you can trade both sides and they even have invert postion button just click it once see how it works. might be a trading experience changer, good day all.

SPX
From the slow lane to the fast and back again.
http://99ercharts.blogspot.com/2011/03/spx_2608.html
All lanes heading in the same direction though.

Well, I think I have network problem AGAIN. Thank you guys, see you tomorrow. The day is strong but is not strong enough so bears are not dead yet. A huge up day tomorrow will shut me up though.

bears are not dead yet？？？？

PLMT wrote:bears are not dead yet？？？？

if one day I said bears were dead, then they may in fact awake the next morning. So it's actually good for bulls when I say bears are not dead.

Cobra wrote:

PLMT wrote:bears are not dead yet？？？？

if one day I said bears were dead, then they may in fact awake the next morning. So it's actually good for bulls when I say bears are not dead.

But if what you say is actually good for bulls, then that might be considered bearish.

JTrader wrote:

Cobra wrote:

PLMT wrote:bears are not dead yet？？？？

if one day I said bears were dead, then they may in fact awake the next morning. So it's actually good for bulls when I say bears are not dead.

But if what you say is actually good for bulls, then that might be considered bearish.

Hello Cobra,
Hi All.

Potential Bullish Head SHoulder ES_F
http://followmarketrend.blogspot.com/20 ... lders.html

Good Luck all

Marketrend wrote:Hello Cobra,
Hi All.

Potential Bullish Head SHoulder ES_F
http://followmarketrend.blogspot.com/20 ... lders.html

Good Luck all

Right, thanks.

rcks wrote:uemple
Can you describe how you creat the rhomboid that show on your chart?

There is strong resistance at 1312/1314 and SPX won't go higher today.

Ok rcks, I'll give it a try:

The original idea is from Gann, a chartist who was renowned the 1920s and 30s. He put the angles at a certain grade (I think it was 30%, I'm not going to look it up) and at the intersection points of his grid he put in horizontal lines.

For my grids I don't use a fixed grade such as 30% or 45%, nor do I use classical channels, which connect all the highs or all the lows of a move. I try to find the breakout points of a channel (one of Wyckoff's methods) and then I connect these breakout points. These breakout points are damn important for all kinds of applications - Fibs, fans and of course grids. And you'll notice that by connecting the intersection of these Gann/Wyckoff grids with horizontal lines you get reliable support/resistance levels.

rcks, you'll have to play around with minute/daily/weekly charts and by and by you'll get a feel for it. Here an example, check the black and blue grid (and disregard the green and red Andrew's Forks).

http://stockcharts.com/h-sc/ui?s=$SPX&p ... &listNum=2