Cobra's Market View

short term

My gapup/gapdown "finder" like to bounce around 50 RSI area, could be worth nothing this time but late bears just be careful

I guess we busted the bull flag theory ?

MrMiyagi wrote:Feels like a rebound is brewing but TRAN, SPX, INDU charts telling that they still have some space left to go down; maybe one day.

Maybe a strong shove down in the morning followed by reversal is at hand tomorrow?

15 mins MACD is already ugly, -5.32. How ugly do you want it to be?
rebound might help without going too low, to keep us in Deja vu. It is Obama's birthday, Do you think Wall Street boys make it as ugly as lasy year, 500 points drop in Dow in one day?

rebound still looks weak.

Tabby wrote: It is Obama's birthday, Do you think Wall Street boys make it as ugly as last year, 500 points drop in Dow in one day?

Ha ha.. yeah stick it the Man from Kenya!

Small bar on IWM;

Al_Dente wrote:PAGE KENA:
Dome, right???
Target 135 or 134ish ???????
Straight indices, no ratios

82dome.png

Dr Al-D
Been away from the computer doing other things and working out..Yes your charts show lots of domes. I just checked the SPY 1 min and it did the dome thing,took a small pause at 136.35 and then broke dn for a low.GT

BullBear52x wrote:on SPY, if you believe in gaps, Fib measurement of previous down leg is sitting at the same spot.

fib schmib u r just a short little guy that’s all
here is 30min spy ……..mmmmmmmm…….short
[needs a little breather….no?]

MrMiyagi wrote:

Tabby wrote: It is Obama's birthday, Do you think Wall Street boys make it as ugly as last year, 500 points drop in Dow in one day?

Ha ha.. yeah stick it the Man from Kenya!

Obamas Birthday is Aug.4

as long as consolidates below EMA20 then it favors bears.

BullBear52x wrote:

tkvprasad wrote:

BullBear52x wrote:this is serious

Still wondering if this could end up being a bear trap!! IWM daily trend line drawn from Oct 11 lows , connecting Jun lows, holding well

I look at IWM as the most bearish of them all, due to the series of LL and LH

Thanks BullBear: 1/2 point box PF looks very negative for smalls with another downmove

here is iwm PF 1/2point

Al_Dente wrote:

BullBear52x wrote:on SPY, if you believe in gaps, Fib measurement of previous down leg is sitting at the same spot.

fib schmib u r just a short little guy that’s all
here is 30min spy ……..mmmmmmmm…….short
[needs a little breather….no?]

The attachment 82thirty.png is no longer available

yes, TRIN can help out a little too. the sure move will be when the UPV over take the DNV, I'll wait.

aapl, I'll maintain what I said on the chart. http://stockcharts.com/public/1684859/c ... /260183775;

joe-gamma wrote:here is iwm PF 1/2point

iwm-pf-802.png

Why PF guys like to use point over percentage? I am just curious.

Is there a jobs report tomorrow or anything of importance?

Miyagi, that may have been the best ever use of the word shimsham in history.

MrMiyagi wrote:Is there a jobs report tomorrow or anything of importance?

10:00 AM Factory Orders Jun -0.5% 1.0% 0.6% 0.5% 0.7%
8:30 AM Nonfarm Payrolls Jul - 85K 100K 80K -
8:30 AM Nonfarm Private Payrolls July - 100K 105K 84K -
8:30 AM Unemployment Rate Jul - 8.2% 8.2% 8.2% -
8:30 AM Hourly Earnings Jul - 0.1% 0.2% 0.3% -
8:30 AM Average Workweek Jul - 34.5 34.5 34.5 -
10:00 AM ISM Services Jul

OverUnder wrote:Miyagi, that may have been the best ever use of the word shimsham in history.

Pretty much describes the happenings, doesn't it!

Thanks TraderJoe for the list.