Cobra's Market View

Nasdaq 100 rising wedge

Seems to be hitting resistance at breakout point 2 days ago, looks like wedge...

Cobra wrote:well, I hope this breakout is for real.

The only impulse was the drop yesterday and all of this looks corrective. The BBs are narrowing, giving us a higher probability of a decent gap tomorrow. The wave count says down, so I guess I should be very long!

Update:

TraderGirl wrote:Seems to be hitting resistance at breakout point 2 days ago, looks like wedge...

Needs to break above 1407.50....

Al_Dente, your 1 min chart suggests a break to the downside now, right?

uempel wrote:Al_Dente, your 1 min chart suggests a break to the downside now, right?

No, no. Changed again.

some trendlines fwiw. still looks a little bear flaggish on the SPX 60m.. until it's not.

The weakest link....DIA

Some selling in AAPL. GLTA jimme

Uh oh, AAPL's falling from the upper branches

uempel wrote:Al_Dente, your 1 min chart suggests a break to the downside now, right?

YES is just GUESS
(short covering could kick in easily near close)
http://stockcharts.com/h-sc/ui?s=SPY&p= ... listNum=15

BullBear52x wrote:The weakest link....DIA

If I squint real hard I see a breakdown from a mini- H&S, now doing a 'last kiss goodbye' (on your DIA chart).

But then again I am biased, since I just turned BEARISH.

nothing to say, the rebound is weak.

Al_Dente wrote:

uempel wrote:Al_Dente, your 1 min chart suggests a break to the downside now, right?

YES is just GUESS
(short covering could kick in easily near close)
http://stockcharts.com/h-sc/ui?s=SPY&p= ... listNum=15

"YES is just GUESS" tells me no sure on the chart reading
(Short covering could kick in easily near close) tells me hope no TA facts.

Hahahahaaaa got you, I know you are bull to the core. just want to poke fun at you, love your charts.

Update:

BullBear52x wrote:

Al_Dente wrote:

uempel wrote:Al_Dente, your 1 min chart suggests a break to the downside now, right?

YES is just GUESS
(short covering could kick in easily near close)
http://stockcharts.com/h-sc/ui?s=SPY&p= ... listNum=15

"YES is just GUESS" tells me no sure on the chart reading
(Short covering could kick in easily near close) tells me hope no TA facts.
Hahahahaaaa got you, I know you are bull to the core. just want to poke fun at you, love your charts.

Blablabla here’s yr girlfriend http://www.youtube.com/watch?v=40uI_2qHmw4

Thanks All for your stuff. I plan to add to my short position in the PUMP in the AM. GLTA jimme

Per my ARMs sell warning setup, I should close short on an up close. Unless things start to move, today is basically unchanged. Based on very limited precedents, there is the possibility of range trade or mild megaphone action over the next day or two with unchanged. So, I'll probably carry overnight with a tight stop or close it in the aftermarket for modest profit. They say never short a dull market. Well, today was pretty dull.

Al_Dente wrote:

BullBear52x wrote:

Al_Dente wrote:

uempel wrote:

Dr Al. When are you going to follow me on my No visitor blog, there's cool stuff there once in awhile