Cobra's Market View

Cobra wrote:another overshot, volume surge plus largest bar. let's see any pullback from here. I pretty much give up the hope of any meaningful pullback today.

seriously...i wouldn't be surprised to see that doji on the 5 minute BE the pullback. freak'n markets flying at 50 cent increments.

lilitulip wrote:who is lying? Bond or stock market?

usually the stock market lies

Cobra, what do you think about tomorrow, is it a little too much on no news (or because of that) Thanks

heavenskrow wrote:

lilitulip wrote:who is lying? Bond or stock market?

usually the stock market lies

But the stock market can continue lying long after you are broke...

sola wrote:

heavenskrow wrote:

lilitulip wrote:who is lying? Bond or stock market?

usually the stock market lies

But the stock market can continue lying long after you are broke...

thats why im in bonds

Seems some pullback is the must. Only Cobra can tell us the target.

ES
http://99ercharts.blogspot.com/2011/09/es_5673.html

"Ou est le papillon?"

gotta say this is the toughest i've ever seen it trading crude. i think the pro's are definitely back this week damn they are good. i am staying out, hope they go home soon

"overshoot" i like that. Finally got me a piece of it for a change. Happy and out early BEFORE my stop, but only because I got a nosebleed, and once it starts down, very hard to get out alive

lilitulip wrote:who is lying? Bond or stock market?

good question!
i think the bond guys are always smarter
this may only be a short squeeze, weak hands are covering

rola wrote:Cobra, what do you think about tomorrow, is it a little too much on no news (or because of that) Thanks

tomorrow should close in red according to the statistics I mentioned last night. Let's see how the market closes first.

pretty sure that candlestick looks like a bullish engulfing on the 5 minute. i'm trying to figure out if it's 3 oclock yet, but no, it looks like the shenanigans are starting a little early today.

SI (Siemens) is a candidate for the “stock of the day”. Its reversal would be indeed significant for the DAX and Europe…
But I am still a skeptic…

according to my channel we could see /es to 1187-88 spike. tough resistance there gonna try a counter-trend short there with tight stops.

agnosia wrote:according to my channel we could see /es to 1187-88 spike. tough resistance there gonna try a counter-trend short there with tight stops.

I agree. There is a lot of res. from here up to 1200.

nothing to say, strong, so the first meaningful pullback if any should be a buy. I give up looking for pullback now.

Cobra

What is the line in the sand for bears and bulls alike? At what level shud we switch u think?

Also, today's push up is quite strong. Is the yes we can scenario coming into play? Germany n France have backed Greece n say it will stay in the EU. What do u make of this?

Thanks

es is right at the down trendline from late July peak

Cobra wrote:nothing to say, strong, so the first meaningful pullback if any should be a buy. I give up looking for pullback now.

Would you really buy here?

although I give up looking for pullback but the bigger picture still remains the same, the rebound (although pick up in strength today) still is the weakest, so still think eventually it'll fail. I didn't change a single line of the chart below, I mean the rebound was expected, just I didn't think today is this strong.