Cobra's Market View

What a strange day.

Rally was totally overdone. Maybe overdosed

New highs for the year ??

Praise Benrnanke and Draghi, almighty money printers.

New highs may very well happen, but not without volatility !

Bring on the roller coaster !!!

CH37 wrote:two days gap up, the 3rd times, might be gap down...

Or maybe 3rd time's the charm, gap up, runaway and before you know it SPX 1600!!!!

Backed up the truck on TZA @ 17.44

There!

MrMiyagi wrote:

CH37 wrote:two days gap up, the 3rd times, might be gap down...

Or maybe 3rd time's the charm, gap up, runaway and before you know it SPX 1600!!!!

"And the dish ran away with the spoon"

TSM Money Flow -897.50M
http://online.wsj.com/mdc/public/page/2 ... yflow.html

Just wonder if today's SPY new high was because the demos are trying to buy votes as today is the voting day for most states(?)

knock wrote:

Harapa wrote:Beware of a bearish Gartley on ES daily chart

usually how to calculate the target of gartney?

Don't know and haven't seen a good strategy to trade these displays by any one else. To me these are warning signs. Also, be aware they do have a high failure rate.

Japan, China, & India should gap up. So, my spreadsheet indicates a gap up for US.
Europe should gap down. Europe is the wildcard.

Voting day for what? First Monday in November is Presidential election.

Ed02 wrote:Just wonder if today's SPY new high was because the demos are trying to buy votes as today is the voting day for most states(?)

holy crpppollla PCLN tanking after hours.

Never did like Priceline, it always complains my bid is too low, so why bother giving them my credit card? Can get better deals from regular travel sites.

737controller wrote:holy crpppollla PCLN tanking after hours.

PCLN down 107$.

Past few days, buying at the close has been rewarded. I did the same today.

PAGING Doctor Xfradnex
This is for sure a short term top today or tomorrow.
I’m not dicking around this time,
but the ST trend is still bull so I can’t go bear just yet...
What do the elders say?

Al_Dente wrote:Stalwart 5min SSO Renko has told me LONG since 8/3
So why am I dicking around like a honey badger?

87renko.png

Dr Al. Is your "Stalwart 5min SSO Renko" still showing buy? I see a double Muffin Top on Spy Lots of folds.... I mean Mushroom Top. I'm working the Elders.

Still tracking the Wolfe Wave. There is where we are at today. The hump suggested by the documentation is complete. If we break back into the channel tomorrow, the target to the downside would be a touch of the red line.

http://www.investopedia.com/articles/tr ... z22R8Q2DvD

Al_Dente wrote:“Fed’s Rosengren Urges ‘Open-Ended’ Easing Program”
http://www.bloomberg.com/news/2012-08-0 ... ogram.html

The funny thing is that this guy does not have a vote at the Fed, but they have to listen to him jabber. How many jabberers does it take to prop up the market????????????????????????????? Today, only one.

xfradnex wrote:

Al_Dente wrote:Stalwart 5min SSO Renko has told me LONG since 8/3

Dr Al. Is your "Stalwart 5min SSO Renko" still showing buy? I see a double Muffin Top on Spy Lots of folds.... I mean Mushroom Top. I'm working the Elders.

Yes Renko is still BARELY buy, leaning slightly down, I have a sneaking suspicion it may be on sell tomorrow.......I just can’t act until it really turns…….

But there was bull divergence on NAMO daily (for QQQ)…didn’t anybody notice/post this in the last three trading days???????

And the Olympics Signal: we’re left with Synchronized Swimming and Ping Pong, which indicates Oy, sell already

TradingJackal wrote:Still tracking the Wolfe Wave. There is where we are at today. The hump suggested by the documentation is complete. If we break back into the channel tomorrow, the target to the downside would be a touch of the red line.

http://www.investopedia.com/articles/tr ... z22R8Q2DvD

A better broken channel on the upside is good.

Daily Elders. World 15 of 15 green. i was wrong yesterday (Fed and housing up did not help). Still looks like down. Three days of High greens is a call for a down day following.