Cobra's Market View

there is a very tiny gap from this morning .. and still haven't quite tagged the lower line.

Since today`s gap was filled, Benny and Bammy can gap up the market tomorrow...

Cobra wrote:well, guess that's it for today, not a good day for bulls, so for short-term bears have the ball and attacking, bulls are on the defense. The bad news is today's action makes the calling intermediate-term much tougher which I'll explain tonight. Thanks you guys, I'll see you tomorrow.

One more thing, before the close, please take a little time to vote for me, thanks: http://stockcharts.com/public/1684859/tenpp

Seems today might just be rebalance after quarter-end funds loading up on Apple?
thanks Cobra and all boardies today-Good luck to us humans!

Good news and bad news. Stochastics are about to cross over from the oversold level. In a bullish market, it should turn up along with the tape rather quickly. However, today's candle was ugly for the bulls. SMA 5 is still pointing down even though the tape closed about the SMA after many days. A few more closes above SMA and it should curl up. Now is the chance for the bulls to take control of the market.

Fib ratios point to an ABC move to the upside that finished this morning. Another bearish wave down. The target is most likely the previous low.