Cobra's Market View

this is make it or break it kind of time, failed to push high would result in 2 legged pullback. but anyway, bulls' gestures are much improved.

Cobra , green monday ? huge green monday ?

or in wait and see mode ??

negative divergence in 1min RSI?

SPX
http://99ercharts.blogspot.com/2011/08/spx_2502.html

It's Friday and The Hamptons beckon...

Should MA 377 be broken to the upside, next bullish target would be the lower boundary of the BB13/1, which is now at 1244:

too bad, either we've already had the 3 push up or there's one more attempt to make a new intraday high, either way, more likely we'll have at least 2 legged pullback soon.

AK84 wrote:Cobra , green monday ? huge green monday ?

or in wait and see mode ??

in clueless mode.

uempel:

You're in good form; must have been a nice vacation.

Welcome back!

i didn't miss too much. frustrating day so i took my wrx out for a high speed drive feel better now and am ready to trade ...

Cobra wrote:too bad, either we've already had the 3 push up or there's one more attempt to make a new intraday high, either way, more likely we'll have at least 2 legged pullback soon.

1st leg is over?

Cobra wrote:

AK84 wrote:Cobra , green monday ? huge green monday ?

or in wait and see mode ??

in clueless mode.

Huge gap to muder late shorts who dont cover.

If FED hints QE3 next week, then short squeeze may roll us up to heaven.

wrx?

Not a ticker for "Wrecks" I hope.

At least more of a fair fight now!
Is it?! 1-min update. (that's a bear flag in between blue and red line for this battle, bur bull's got IH&S helping, war is not over)

Going down?

SPX http://99ercharts.blogspot.com/2011/08/spx_7331.html

Yup http://www.youtube.com/watch?v=BHXKlNP4-Aw

Have a great weekend!

a little trend line support here, still think there's one more push up, if cannot make decisive high then the rebound is over.

The daily certainly seems to be positioning us for a big upside move. Hammer, anyone?

ok the market is done for today and so am i. see you all next week, thanks cobra.

Unique situation with SPY weekly options--the strikes are determined the previous week, and the large move down means that the lowest available strike expiring today is the 121. Usually the professionals are sellers of premium, both puts and calls, and then try to peg the close to the number that most benefits them (maxpain website plays to this issue). Who knows what will happen in the next hour plus, but if no news or new rumors about the fed making a move after the close then there is a reason we have been dancing around 121 for a bit.

For any one that wants to positoion for a pop or a good move up, NFLX..BWLD..VMW..could be good swing trades as the mkt moves up.Do your home work look at your charts etc.I have been wrong many times.Also of course is aapl but I don't trade that one right now. Wait and see.

Cobra : do you think this rally is just a bounce? or a trend reversal?