Cobra's Market View

(Reuters) - Economic fears are weighing heavily on Americans, with a large majority saying the United States is on the wrong track and nearly half believing the worst is yet to come, a Reuters/Ipsos poll said Wednesday.

CNBC iPhone Alert. Treasuries sell at high yield.

Cobra wrote:either 3 push up or H&S bottom or C&H (cup with handle, will from now on use C&H). key time. The bias in on the upside though.

$RUT lag?

longer view,
bears can say it is a clear bear flag
bull can say it a shakeout before exploding up
EW counters can says we migh have an E wave outside the boundry
pic your choice , I say whatever the it is , I will take the deal the dea I took because it is a win win trade for me
This is why I went long at 10750 today with reverse at 10550

wishful wrote:

Cobra wrote:either 3 push up or H&S bottom or C&H (cup with handle, will from now on use C&H). key time. The bias in on the upside though.

$RUT lag?

yes. but we're talking about very very short-term, a day or two or even an hour trend. most guys here are short-term traders.

Finally seeing some volume maybe?

Dow Trader wrote:longer view,
bears can say it is a clear bear flag
bull can say it a shakeout before exploding up
EW counters can says we migh have an E wave outside the boundry
pic your choice , I say whatever the it is , I will take the deal the dea I took because it is a win win trade for me
This is why I went long at 10750 today with reverse at 10550

Bear flag...I never look at INDU, but it sure looks different than SPX:

Only when mkt hit low, buyer will step in. In this mid point, dead.

still ambiguous here, so let's wait. I'm disappointed in bulls.

Cobra wrote:still ambiguous here, so let's wait. I'm disappointed in bulls.

guess breakdown is coming, already 3rd or 4th hit HL?
though I wish a breakup...

Cross fingers
Magic please
@v@

Bull is waiting for spx 1100 to step in.

ES will save the day? clearly bear flag here.

Volume getting lighter again. I think traders coming in to keep trend up. Even a 200 point down day on the Dow will be a victory for traders while the media will get to continue to say the world is ending.

wishful wrote:

Cobra wrote:still ambiguous here, so let's wait. I'm disappointed in bulls.

guess breakdown is coming, already 3rd or 4th hit HL?
though I wish a breakup...

I still think more likely is on the upside.

wishful wrote:

Cobra wrote:still ambiguous here, so let's wait. I'm disappointed in bulls.

guess breakdown is coming, already 3rd or 4th hit HL?
though I wish a breakup...

Everybody is epecting a breakdown, so it won't come. Presumably the breakdown will occur in a few days, weeks or months when we are not expecting it.

The world won't end but some big banks would.

StrikePrice wrote:Volume getting lighter again. I think traders coming in to keep trend up. Even a 200 point down day on the Dow will be a victory for traders while the media will get to continue to say the world is ending.

tomorrow is going to be even more treacherous i guess.... 60 points range which direction

NQ leads today ?

Wow BUY BUY BUY, no me.