Cobra's Market View

no one mentioned diamond bottom on SPY?

Thanx, Anaconda!

pablorynx wrote:anyone remember what happens with 7 straight weeks down in the SPX?

Not enough data for SPX.

For Dow, the longest losing streak in the past 40 years is seven. Seven straight down weeks. And there were three of those. The last one occurred in June 2001. You have to go as far back as 1980 and 1973 to find the other two.

Then there were (until now) just eight instances of streaks of length six. That's just 6 times in 2080 weeks. The last one of those was in October 2002. The raw numbers by streak length are: [307 119 42 32 13 8 3].

There were no streaks longer than seven weeks.

Dating back to 1962, there are 13 streaks of 6 or more down weeks in a row on the SPX. There are only 3 streaks of 7 or more...and none more than 8 weeks...per Tradestation data.

Silver
Bullish Gartley in gold; Wolfe Wave in blue.
http://99ercharts.blogspot.com/2011/06/silver_3600.html

since 1967,

5/22/1970 72.25 8 weeks in a row
3/28/1980 100.68 7 weeks in a row
3/23/2001 1139.83 8 weeks in a row

Bulls are mad.

http://www.greedandmoney.com/wp-content ... ncount.png

This count from my 12:19 pm update might work out.

99er wrote:Silver
Bullish Gartley in gold; Wolfe Wave in blue.
http://99ercharts.blogspot.com/2011/06/silver_3600.html

Helpful. Thanks. 99.

budfox wrote:http://www.greedandmoney.com/wp-content ... ncount.png

This count from my 12:19 pm update might work out.

is this a intraday count?

Anaconda wrote:

99er wrote:Silver
Bullish Gartley in gold; Wolfe Wave in blue.
http://99ercharts.blogspot.com/2011/06/silver_3600.html

Helpful. Thanks. 99.

Sorry, just looked at the chart again. Wolfe and Gartley suggest up. But, I wonder if possible bear flag?

Anaconda wrote:

99er wrote:Silver
Bullish Gartley in gold; Wolfe Wave in blue.
http://99ercharts.blogspot.com/2011/06/silver_3600.html

Helpful. Thanks. 99.

so you are expecting a sell off to 1266.36 ish and then a rally into the close?

Got to leave early..Thanks COBRA for the good trading week.

greedy bears target 126.63

SPX
Last chart.
http://99ercharts.blogspot.com/2011/06/spx_7833.html

Have a great weekend, folks!

no clue. OE day is mess. my wild-est-est-est guess is like this.

Here is my alternative short term count.

http://www.greedandmoney.com/wp-content ... ount21.png

IMHO, 1280 has become good resistance, bulls need to clear that first next week

OT, does anyone use renren.com? Is it really the Chinese equivalent of facebook?

here comes the sell-off. we may see 1258ish