Cobra's Market View

Report to Cobra, both bbs and http://www.cobrasmarketview.com are working perfectly fine on China telecom and China Mobile network. Not like Y Y B only works on China Mobile.

We are approaching that time again, it's Bull:30. This ascending triangle looking more bullish. I put my buy stop order in 126.10.

Don't surprise to see S&P closed above 1270 today or tomorrow as many fund managers will do year-end profolio shopping after X'mas shopping. That is a real Santa Claus rally !

bounced off the blue channel, building a bull flag (red trendlines)?

there we go?

breakout finally, but not confirmed yet, so let's wait...

dr659 wrote:there we go?

8 more pennies, gotta be patience.

johnnywa wrote:This Cat way to strong most likly now test 1265,no pullback at all

one triangle take.

ZimZeb wrote:

johnnywa wrote:This Cat way to strong most likly now test 1265,no pullback at all

one triangle take.

Hi, welcome aboard. But could you please change your avatar? It's too bloody. Thanks.

tdo722 wrote:

dr659 wrote:there we go?

8 more pennies, gotta be patience.

volume confirmed on /es and spy. it is indeed breakout.

tdo722 wrote:

dr659 wrote:there we go?

8 more pennies, gotta be patience.

MDD then MAD, next is RED?

breakout target looks to be around 126.35 and change.

BTW: what is pushing her up anyway? XHB sector all alone?
Clue? strongest globals are EWQ, EWP, EWI
Jarbo, what’s the euro doing?

Or just a plain old garden-variety short squeeze…

“I believe that banking institutions are more dangerous to our liberties than standing armies.” [Thomas Jefferson]

http://www.youtube.com/watch?v=0itxcnYc ... re=related

wayne0708 wrote:

tdo722 wrote:

dr659 wrote:there we go?

8 more pennies, gotta be patience.

MDD then MAD, next is RED?

Not MAD yet, but very close now, if we close HOD today then definitely MAD.

Cobra wrote:breakout finally, but not confirmed yet, so let's wait...

laoda, what constitute a conformation in this case? my point is if one waits, maybe already to late.

Why do I get this sense that the rug is going to pulled out from under the bulls at 3:30pm?

Ha, could be because I am short!

I must say, this looks so scrumptiously good to go long on this break out... so temptingly and mouthwateringly good... heart-palpitatingly good... sweaty hands good...

that the nefarious side of me yells "bull trap!"

BullTart wrote:Why do I get this sense that the rug is going to pulled out from under the bulls at 3:30pm?

Ha, could be because I am short!

I must say, this looks so scrumptiously good to go long on this break out... so temptingly and mouthwateringly good... heart-palpitatingly good... sweaty hands good...

that the nefarious side of me yells "bull trap!"

I have the same feeling but I'm trading based on the chart not feeling. My feelings suck.

Al_Dente wrote:BTW: what is pushing her up anyway? XHB sector all alone?
Clue? strongest globals are EWQ, EWP, EWI
Jarbo, what’s the euro doing?

Or just a plain old garden-variety short squeeze…

“I believe that banking institutions are more dangerous to our liberties than standing armies.” [Thomas Jefferson]

http://www.youtube.com/watch?v=0itxcnYc ... re=related

digesting...

bears would've liked to have the digesting going on around 1.2850 instead of a hundred pips higher...but they have a hundred pips to spare to 1.3150 or so before the bulls could realistically say there might be some kind of bottom put in. there's some chatter about portfolio repositioning into the end of the year with funds selling overhedged positions in the EUR (aka buying back EUR), but on the longer term chart, the EUR still looks rather weak. next stop 1.2650 seems pretty guaranteed barring major fundamentals shifts.

sentiment remains extremely EUR bearish.

Update

SPX http://99ercharts.blogspot.com/2011/12/spx_5704.html

We're there.

by the way, if we fail here, then you can finally call it a Rising Wedge. this was what I mean ascending triangle can turn into rising wedge.