Cobra's Market View

MrMiyagi wrote:

Al_Dente wrote:oh my goodness
huge 2.5 mil buy on last minute

Huge last minute buys in SPY IWM TNA DIA

Profit taking? (Bots covering shorts??)

RUT is already underperforming the rest of the markets....

Al_Dente wrote:oh my goodness
huge 2.5 mil buy on last minute
petsamo what does that mean on yr spreadsheet thingie?
thx

I didn't see a large last buy, but my spreadsheet indicates a gap down

Petsamo wrote:

Al_Dente wrote:oh my goodness
huge 2.5 mil buy on last minute
petsamo what does that mean on yr spreadsheet thingie?
thx

I didn't see a large last buy, but my spreadsheet indicates a gap down

Well, there is going to be some kind of move at the opening, check the red ellipse. And I missed a great trade today, check the blue ellipse

Xfrandex show me some blue reds
Our money broke down today (I already posted this thrice today but u never get here ‘till after hours so not sure if u see the mid-day stuff?)
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =269063990

But when I check my simple SIMPLES it doesn’t look too bad yet……….

Al_Dente wrote:Xfrandex show me some blue reds
Our money broke down today (I already posted this thrice today but u never get here ‘till after hours so not sure if u see the mid-day stuff?)
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =269063990

But when I check my simple SIMPLES it doesn’t look too bad yet……….

The attachment 613simple.png is no longer available

Dr Al. Busy today. Here you go. Things look alot like yesterday. Europe and Asia is interesting; H and L Elders not matching Close (Less FTSE, Spain, Italy). Note Italy (EWI) on the 3 month chart has formed some type of Bottom. I hope I is not a Horse's Ass.

TraderGirl wrote:Cant help but think this is also a possibility.... a triangle formation...??

More chop before we fall..??

But I am hoping for H&S....

I'm thinking not a triangle, but we'll find out soon enough.

For it to be a triangle "before we fall" it would need the drop on Friday morning to be a wave X and it's a complex correction ending with a triangle that was wave D down today. I have not seen one of those in literally 3 years. And two waves sure look like 5s. But with the new and improved HFT guys, 5s can appear most anywhere.

I think the chart I posted of a failed 5th has a good shot at being right but as always, reserve the right to get out as these machines drive an Elliotician nuts!

I'm thinking down hard into Friday, but I haven't bet the farm....yet!