Cobra's Market View

Get ready to rumble?

I guess we build a IHS here, or that was a significant top at 1420.

Reversal of a Reversal of a Reversal...need a nasty close to seal the deal.

SB73 wrote:Reversal of a Reversal of a Reversal...need a nasty close to seal the deal.

hi senor
it's getting nasty
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =269063990

Mkt is breaking the low..Per Dome Therory now free fall to next support . Lets see

Donde esta el Cavalry?

target met, still this is a 2 legged pullback at least, we're on the 1st leg down.

Yesterday's low is still a long way down.

MrMiyagi wrote:

Mr. T wrote:Power Hour, or Cower hour????

Dour Sour hour

SPY maybe goes down to 131.40$ before bounce? Unless Michelle brings back those damn shoes.

Turn all charts upside down ====> POWER HOUR !!!

KENA wrote:Mkt is breaking the low..Per Dome Therory now free fall to next support . Lets see

""""""Per Dome Therory now free fall to next support """"
thx for that kena

snakehead wrote: Turn all charts upside down ====> POWER HOUR !!!

Great economics! I think the government uses that!

SPY might bounce here a teensie bit.

There is a lot of jibber jabber on CNBC about market on close orders. Anyone know where we can get a preview? Or is it just anecdotal from floor traders?

Is yesterday's low also the neckline on a H & S formation that's been developing since June 6?

Al_Dente wrote:

SB73 wrote:Reversal of a Reversal of a Reversal...need a nasty close to seal the deal.

hi senor
it's getting nasty
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =269063990

Senor,

I love your work. I got stopped out of the shorts early today, but was able to reload at about the same price. Unless we get a wicked reversal the short side is the trade to be in for now. GLTA.

now H&S top is very likely.

Off=topic:

Anyone watch CNBS this afternoon. That blonde Aussie chick looked like she had been hitting the bottle (either
that or she is just learning how to stand in high heel shoes.) Laurie Dhue part Deux? ... just sayin' ...

Cobra wrote:now H&S top is very likely.

About freaking time ------ it was starting to seem like 132.50 was some sort of "strange attractor" or something....

Got to go now i told my wife we would go to lunch in town today..Keep the mkt falling..

Finally got that 5th wave down, the only risk now is a rebound....

SB73 wrote:

Al_Dente wrote:

SB73 wrote:Reversal of a Reversal of a Reversal...need a nasty close to seal the deal.

hi senor
it's getting nasty
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =269063990

Senor,
I love your work. I got stopped out of the shorts early today, but was able to reload at about the same price. Unless we get a wicked reversal the short side is the trade to be in for now. GLTA.

thx senor
yr girlfriend is longing 4 u
GL

Cobra: do you think we will slice thru 131.28 ? Or more of the same channel bouncing ?
(I keep thinking of the old adage -- "there's no such thing as a triple bottom".)