Cobra's Market View

I posted this over the weekend:

""Daneric posts a nice count, but hasn't updated for Friday's overnight action, so it looks like we have more down to go.

http://danericselliottwaves.blogspot.co ... -2012.html

There are three turn dates this week, Monday, Tuesday and Friday. Monday looks like it will open down and it looks like we will get 5 waves down for this potential third wave, then it looks like we could turn up on Monday for wave (4), then turn back down Tuesday to complete wave (5). Friday has the potential of ending this correction..?? Astro's are indicating that April 21st thru 29th have very positive aspects and I think we could definitely hit new highs around that time...IMHO...

(Don't pay attention to price levels of attached chart...)""

Merriman has a turn date of 13/16th (+/- 3 days), so this matches well with a turn on Friday, but nevertheless, we could still see a bottom on next Monday the 16th...

My XME is green.

TraderGirl wrote:I posted this over the weekend:

""Daneric posts a nice count, but hasn't updated for Friday's overnight action, so it looks like we have more down to go.

http://danericselliottwaves.blogspot.co ... -2012.html

There are three turn dates this week, Monday, Tuesday and Friday. Monday looks like it will open down and it looks like we will get 5 waves down for this potential third wave, then it looks like we could turn up on Monday for wave (4), then turn back down Tuesday to complete wave (5). Friday has the potential of ending this correction..?? Astro's are indicating that April 21st thru 29th have very positive aspects and I think we could definitely hit new highs around that time...IMHO...

(Don't pay attention to price levels of attached chart...)""

Merriman has a turn date of 13/16th (+/- 3 days), so this matches well with a turn on Friday, but nevertheless, we could still see a bottom on next Monday the 16th...

I think we rally a bit this morning and then sell off into the afternoon. Not much downside here. Should be a "bottom" in a few days and then a charge up to see how high we can jam it again. Corey Rosenbloom had a good post last week --- a bounce would be no surprise, and even new highs before we finally see a top. http://blog.afraidtotrade.com/

rebound as expected. AAPL is strong.

The boys woke up in The War Room:

Cobra wrote:rebound as expected. AAPL is strong.

Air America never died....they just morphed! http://en.wikipedia.org/wiki/Air_America

SPX: Follow up of the short term EWP

as we discussed couple weeks ago, there is good support around low 1370s. today is not a "full" session. i don't think we will get anything major.
i guess it will be a rising wedge or channel. if u get bored after 3 days break, then maybe scalp the noise.

Whatever the count, this appears to look like a wedge, pendant, maybe more down this morning?? We are hanging around the 50% fib retracement....

BAC: Follow up of the short term EWP

Just got a P bar at 139.86..Lets see..The break up have been more successful lately.

target, 60% chances. also could be a very small ascending triangle here, so the bias is a little bit on the upside.

A p-bar on my SPY daily till 139.84, but I don't think it's good for the bulls. They might be painting a picture of gap fill backtest so free to go down.

AAPL key time, I still have no preferences. wait and see.

Don't want the bulls to get to excided but we also have a P bar on IWM at 81.67..But lets wait and see.

I do not have the P bar

volume surge, hopefully a rebound of some kind here.

KENA wrote:Don't want the bulls to get to excided but we also have a P bar on IWM at 81.67..But lets wait and see.

I don't see the P bar, but now that it's lower, that's greater motivation to buy IWM

another volume surge, so bulls still got some hopes for rebound here.

Another P bar on SPY at 139.86 again..something may be up.. Lets see.