Cobra's Market View

uempel wrote:

TraderGirl wrote:spx 1374.75 is the line in the sand....must hold to get a rally next week....

I've got breaks on the daily and monthly, let's see where SPX closes.

Astro-wise tomorrow is even more bearish than today...

MrMiyagi wrote:

Cobra wrote:well, now I cannot say it's not a valid breakout anymore. I don't believe 100% target though.

Theoretically, if it gets there then what would the next direction be based on?

gets there, then a bear flag, then more down.

decent gap support and trendline support
breaking below that would be a nice victory for bears
[what? double check... it just broke b4 i could get this posted????]

spx.. TSI has been a pretty good intra-day indicator...broke support, then backtested, then kept falling...

volume surge, biggest bar, so could be a rebound here, then we'll see, more like more down ahead though.

We broke the up trend line from Apr. 10 at 1375..1360 now in the picture.

KENA wrote:

uempel wrote:Update, and check the signal due tomorrow 11.30 am

7.png

Are you talking up or dn

No idea, but I've go a stronger signal today at the close/tomorrow at the opening.

If market action in the hours/minutes prior to signal is bearish the signal is mostly bullish and vice versa. But it's never for sure, I'd say 70%... And if price action before the signal is flat it's difficult to play the signals, if I play those signals I tend to go with the general short term momentum, i.e. the daily momentum.

Breakdown of bear flag. Target 1330.

looks like the rebound is coming here.

So far so good with the count I posted earlier today. drop right on schedule

MrMiyagi wrote:Quite interesting ZimZeb!

Thank you Sensai

I have no personal interest in promoting their material. Just heard a talk and was impressed.

Likewise with THE CRANE!

Thanks for your posts!

normal pattern.

Cobra wrote:not a valid break down. this is just to let you know the consequences if indeed break down.

Consequences could be a lot worse. This looks like that last push up was a failed 5th and that means a hard retracement past where the entire wave started from:

Good call Cobra.

This could be a backtest of the channel we just broke out of...in the case we head lower, 1365 could provide support...

Hmmm.... check this out...ndx potential inverse H&S...

The back and forth annoyed me and didn't payed attention last days to a bigger time frame and missed this move. The overlapped up trend was corrective and labeled as wave 4. Now lets see were 5 stops, if can make a lower low or not. In later case we can expect a correction (up) to a new high. but its a long walk till then.
Fibo projection in the chart is for wave length considering 1 (sometimes 5ers are equal to 1 waves, sometimes bigger).
Please use this with caution, TWT has a different count and i trust him over me

so far fits for normal pattern.