Cobra's Market View

Check orange gridline. Tons of bearish bets now, and I guess (?) bulls will attack. But it's a wild guess and I'm betting on it.

AK84 wrote:Cobra,

Any thoughts on tomorrow ? just trying to position and anticipate ....more likely down due to the selling pressure today and hit resistance at 1205 to form right shoulder on 60 min?
Thanks.

my 2 cents,
down tomorrow,
entertainment only!!!

RUT
Update.
http://99ercharts.blogspot.com/2011/09/rut_08.html

Down towards the neckline.

bears win this round. i am stopped out.. not risking any more capital today. good luck guys

99er wrote:RUT
Update.
http://99ercharts.blogspot.com/2011/09/rut_08.html

Down towards the neckline.

99 EmeRgency,
Let's sing "Amazing Grace."
Everything will be Otay.

descending triangle breakdown, tinted area as text book target.

Dear Cobra:
You called it yesterday. Whenever you say Chi Oscillator is too high on 60min, I wake up.
You da man.... again

Quote of the Day

"What a dunce."

http://globaleconomicanalysis.blogspot. ... -weak.html

Cobra,

Given today's action, do you still think more up before restest of lows....at which price would you say the more up chance is eliminated....for example if s&p breaks down below...??? Thanks for your opinion.

With OB's speech tonight, will we open up tomorrow? I got in some shorts today, now wonder whether to keep till tomorrow. ALl longs stopped.

99er wrote:Quote of the Day

"What a dunce."

http://globaleconomicanalysis.blogspot. ... -weak.html

Ya..and he is one of our leaders.

Cobra wrote:descending triangle breakdown, tinted area as text book target.

I liked the wedge better. Covered my short. I think "yes we can" is still in play...

JustTrading wrote:Cobra,

Given today's action, do you still think more up before restest of lows....at which price would you say the more up chance is eliminated....for example if s&p breaks down below...??? Thanks for your opinion.

More up was fulfilled this morning (we had a higher high). so in order for me to say more up, I need more evidences. Now, purely from the chart pattern, it's not bearish, as it could be a Bull flag in the forming on the 60 min chart.

Thanks for your explanation Cobra....you're the best!!

strong close 3 days in a row? Or the 3rd time is different?

Doesn't look that bearish and at the mom I'm still comfortable with my longs...

uempel wrote:Doesn't look that bearish and at the mom I'm still comfortable with my longs...

SPX20.png

Uempel,

Are you planning on holding on to your longs overnight ?

Al_Dente wrote:Dear Cobra:
You called it yesterday. Whenever you say Chi Oscillator is too high on 60min, I wake up.
You da man.... again

thanks to Cobra,
Chaikin Osc has become my fav indicator
(i use slightly faster settings with a trigger line)
http://stockcharts.com/school/doku.php? ... oscillator

uempel wrote:Doesn't look that bearish and at the mom I'm still comfortable with my longs...

SPX20.png

Agree. On the 60min you could say it's a Bull Flag.

Paging Champix:

Would you post your CL chart again, sil vous plait.
Thanks in advance.