Cobra's Market View

double bottom or triangle, let's see. I won't be surprised we rebound a little before the close because so far today's selling was very calm.

A lot of talk of a Santa Rally..For Info the Santa Rally is the last 5 days of Dec and the first 2 trading days in Jan..So lets wait awhile.

Today's action confuses me: yesterday's Bullish percentages looked good. BPNYA has broken resistance and should rise another 3 percent before it runs into crucial resistance (chart not shown here).

I was/am expecting more strength, I was expecting SPX to bust 1440 this week. If SPX does not manage to break upwards this chart looks very bearish

Boehner/Obama to meet at 5 p today per the White House. I sent Boehner an email so that's probably why.

Clark....Sorry it's taken my so long...had to clean up my TOS platform...was freezing on me....F!!

Anyways...Oil has been heading down to new lows while Energy trading sideways...now Oil looks like a short term bottoming which may give energy a push...will keep my eye on Stoch's...this is short term...not long term, long term I am very, very bearish....

double bottom it is, 2 possible targets.

skittlesmds wrote:If we get down to 1405-1408 ES overnight, I will probably cover my short since I have been holding it too long and then wait and see what the market does from there.

Hold it til it pays. Won't be too long, this dip will be bought, Ben's gonna do the hootchy gootchy for ya.

Bye guys, I'm off to Totò, anybody else coming?

President and Speaker meeting at White House today. Rally time?

toddymc wrote:

KeiZai wrote:Hard to buy into this my indicators are not very bull friendly at this point only oversold indi agree but who knows

I agree it still looks like a big fat Bear Flag anyway but the upper channel line comes in at 1450ish
I wouldn't be surprised....

You mean from nov lows? That´s too big for a flag imo but not impossible


Bouncy wedge worked this time

TraderGirl wrote:Sorry it's taken my so long...had to clean up my TOS platform...was freezing on me....F!!

Anyways...Oil has been heading down to new lows while Energy trading sideways...now Oil looks like a short term bottoming which may give energy a push...will keep my eye on Stoch's...this is short term...not long term, long term I am very, very bearish....

Thanks TG!

mini target met.

gap up wrote:

skittlesmds wrote:If we get down to 1405-1408 ES overnight, I will probably cover my short since I have been holding it too long and then wait and see what the market does from there.

Hold it til it pays. Won't be too long, this dip will be bought, Ben's gonna do the hootchy gootchy for ya.

I'm looking to go long after I get rid of this short position. At least for a bounce

double bottom target met.

uempel wrote:Bye guys, I'm off to Totò, anybody else coming?

Totò.png

They got coffee? I own the wagon since '87. Used to take me half a fifth of 151 proof just to decompress back in the day.

uempel wrote:Today's action confuses me: yesterday's Bullish percentages looked good. BPNYA has broken resistance and should rise another 3 percent before it runs into crucial resistance (chart not shown here).

I was/am expecting more strength, I was expecting SPX to bust 1440 this week. If SPX does not manage to break upwards this chart looks very bearish

Bear.png

The new highs yesterday were soft..To break 1440 the mkt will need a little more omph.

It's been a while since I saw "Talladega Nights", do I pray the the baby Jesus or the grown up Jesus?

Out of Bounds wrote:It's been a while since I saw "Talladega Nights", do I pray the the baby Jesus or the grown up Jesus?

http://www.youtube.com/watch?v=5A0-u85aAYg

KENA wrote:A lot of talk of a Santa Rally..For Info the Santa Rally is the last 5 days of Dec and the first 2 trading days in Jan..So lets wait awhile.

That's what I thought it was. A lot of people have been talking about the Santa rally as if it were suppose to start in October

Thank you all, taking my pills and back to bed.