Cobra's Market View

Another red day tomorrow. Bear week still good..although close above 131 isn't very sexy.

1265ish?... if H&S shoulder neckline breaks... green trendline?... RSI is turning down at the 50 fwiw.

fehro wrote:1265ish?... if H&S shoulder neckline breaks... green trendline?... RSI is turning down at the 50 fwiw.

Fib retracement, roughly 128.3-128.5 next swing target.

Looks like we're about to get our 6th green bar on 60 min. Cobra

ok, bulls don't want to wait for tomorrow, good, we might close high of the day. let's see.

Close above $131.24 makes 6th green 60 min.

ClarkW wrote:Looks like we're about to get our 6th green bar on 60 min. Cobra

TraderGirl wrote:

Al_Dente wrote:FOR TRADERGAL
http://www.youtube.com/watch?v=fxEmnxiUz8w

Thanks Al!!

I think u r kind/generous person
ps: am still awaiting yr avatar, so we can c if u r gorgeous, or just plain ol’ beautiful…..

Cobra, just making sure. Statistically 6 green hourly bars consecutively means that unsustainable is more probable which means it favours bears. I remember last time we had something like 7-9 bars in a row..messed up shit

ClarkW wrote:Close above $131.24 makes 6th green 60 min.

ClarkW wrote:Looks like we're about to get our 6th green bar on 60 min. Cobra

How about a doji going into close...just enough to keep me on the sidelines.

Al_Dente wrote:

TraderGirl wrote:

Al_Dente wrote:FOR TRADERGAL
http://www.youtube.com/watch?v=fxEmnxiUz8w

Thanks Al!!

I think u r kind/generous person
ps: am still awaiting yr avatar, so we can c if u r gorgeous, or just plain ol’ beautiful…..

Well, I don't want you to get too dazzled by my looks, used to model, so I don't want to throw you off your game...hehe..

Unique wrote:Cobra, just making sure. Statistically 6 green hourly bars consecutively means that unsustainable is more probable which means it favours bears. I remember last time we had something like 7-9 bars in a row..messed up shit

you know everything I say here are based on statistics or odds, so there's always an exception, but we don't trade on exception, do we?

ok, guess, that's if for today. not bad for bears although feels bullish. thank you guys, I'll see you tomorrow.

Still running Market Neutral.
Chinks are starting to appear in the Bulls armor.
Good recovery today, but the last hour or so doesn't seem so strong for a mutual fund monday.

Cobra wrote:

Unique wrote:Cobra, just making sure. Statistically 6 green hourly bars consecutively means that unsustainable is more probable which means it favours bears. I remember last time we had something like 7-9 bars in a row..messed up shit

you know everything I say here are based on statistics or odds, so there's always an exception, but we don't trade on exception, do we?

Yup. Was just making sure I'm on the right page. We are likely to see a gap down tomorrow if 6xhourly green. Pretty good odds.

close up of 60m SPX... note Jan 17 gap below

closes high of the day indeed.

Cobra, close high of day means short covering or means bull is so powerful and we will see a gap up tomorrow? thanks

tigerwang9999 wrote:Cobra, close high of day means short covering or means bull is so powerful and we will see a gap up tomorrow? thanks

Not cobra, but ken answering: means bulls are "all in" Simplified version is no one left to buy.

SPX: Very strong rebound If it is a bearish wave (B) now a 7-wave up leg is needed

tigerwang9999 wrote:Cobra, close high of day means short covering or means bull is so powerful and we will see a gap up tomorrow? thanks

If you look back at the data. 6x hourly consecutive green bars = immediate correction after. With one exception in november 2011.