Cobra's Market View

BullBear52x wrote:

TraderGirl wrote:FAZ...attempted to break support this morning...

my evil swing on FAS is still on since Friday.

nice...

good, bull held the low, now we may have a double bottom here.

!!!!POWER HOUR!!!!

....maybe....

Here comes the rebound.

Republicans have counter offer on spending cuts to avoid fiscal cliff

looks like we might get one more push at 1420 (cash) in the next day or two before we continue lower

dr659 wrote:Republicans have counter offer on spending cuts to avoid fiscal cliff

sounds like a worker asking the boss for a pay cut, rare, but could happen I meant both parties of spenders.

dr659 wrote:Republicans have counter offer on spending cuts to avoid fiscal cliff

Obama wants $4 of taxes for every $1 of spending cuts. Since Boehner is a pussycat, whatever is negotiated will not be good for the country.

Triple bottom

not a valid breakdown yet but looks like a failed double bottom which now a double top.

breakdown indeed. you know the target.

dr659 wrote:Republicans have counter offer on spending cuts to avoid fiscal cliff

This is politics. GOPers were getting slammed for "no plan". This ends that talking point. That's it.

Nothing new. Ignore the spending side for now. That's not immediate (meaning next 3 1/2 weeks) This is a tax debate (that GOPers will lose).

What you've got here is GOPers saying $800B in new revenues but rates stay the same. Rates are going up. They're going to lose that one.

Bottom line: O wants $1.6T in revenue, GOP now offering $800B.

Boehner's going to want to keep new revenue below $1T in order to claim a "win".

Dec 21 (op ex) is your key date (or last day of key week).

"Vote for the good of the country? Eff that!"
"I might miss my flight home for x-mas? This is serious! Let's vote!"

Dec 17-21. That's your window for a deal.

Cobra your short term devil plan is bullish yet?

SPY support....target hit now will it hold....

toddymc wrote:

TWT wrote:SPX: DZZ off November 16 is done. But absence of impulsive sell off, hence this pullback eventually will be bought

Is it possible for that "B" wave to develop into a sideways triangle or wedge-?

No. A wave (B) has to unfold a corrective ZZ, DZZ or TZZ. But the last wave, wave (c), is impulsive or an Ending Diagonal

testing critical support
failure here would be…….bad….

Xian wrote:

dr659 wrote:Republicans have counter offer on spending cuts to avoid fiscal cliff

This is politics. GOPers were getting slammed for "no plan". This ends that talking point. That's it.

Nothing new. Ignore the spending side for now. That's not immediate (meaning next 3 1/2 weeks) This is a tax debate (that GOPers will lose).

What you've got here is GOPers saying $800B in new revenues but rates stay the same. Rates are going up. They're going to lose that one.

Bottom line: O wants $1.6T in revenue, GOP now offering $800B.

Boehner's going to want to keep new revenue below $1T in order to claim a "win".

Dec 21 (op ex) is your key date (or last day of key week).

"Vote for the good of the country? Eff that!"
"I might miss my flight home for x-mas? This is serious! Let's vote!"

Dec 17-21. That's your window for a deal.

just curious - what do you consider a "win" or "loss" for the GOP w/resp to taxes? since you mention 2x they will "lose" such a debate. not sure what victory or defeat is here.

Cobra wrote:members only update at 3:28pm
http://www.cobrasmarketview.com/2012/12 ... ay-update/

Cobra,

Picture perfect call in this weekend's report. Good call.

Thanks.

Attention wussies
Should fail soon
Not even bothering to put on my squeeze goggles