Cobra's Market View

SPX
http://99ercharts.blogspot.com/2011/10/spx_6858.html

"Sell," said BB52x.

And that was how the weekend started for that little bear.

Have a great one!

KENA wrote:

heavenskrow wrote:Bullish if this retest fails on bonds

I don't like bonds because BIG BEN controlls them.????

he is selling them

cobra,

does it look like an ascending triangle to you yet?

Bears are dropping out little by little… not much (but this can change faster than I can post)
Eg: $NYDEC one hour ago was about 2400 and now $NYDEC is 2100
That means in the last hour or so, about 300 stocks dropped off our declining data, and either went unchanged or positive … advancers are only 800 = wimpy bulls
Dow went positive +16 points… remember almost half of dow stocks are on our “top squeeze” list
3:09 ET…. no more hall passes or bathroom breaks until the close

my guess is bulls are winning the battle, as it looks like an Ascending Triangle here.

the little bigger picture, as long as today could close in red, then it's bears victory.

jarbo456 wrote:cobra,

does it look like an ascending triangle to you yet?

yeah.

will it be another end of day rally? or can we end just like this?

Cobra wrote:the little bigger picture, as long as today could close in red, then it's bears victory.

That's because of today being NFP day? A turn is coming...

This is a darn Boolish looking chart

ultramarine wrote:[quote="Dow Traderquote="Dow Trader"]

KENA wrote:

Dow Trader wrote:

Hey Dow Trader --

What chart is this? sorry if I missed a previous reference to it. I've only been paying partial attention today.

I usually post many charts, which one you mean ?

The one on page 17 with the added text "bulls beware". Price looks like its around 32ish. Is that TNA? Can't tell because the top is cut off.[/quote]
It is Vix hourly chart

Bears would like to put up a bullish engulfing candle on the daily chart of TZA to look forward to more gains next week. They're underwhelming at the moment, so that could mean a more upside early next week. Or at least more of a struggle in this nether region of 1170 and 1150.

Ascending Triangle text book target. bulls are very resilient.

I've heard a number of people citing the March 2008 analogy. Please note that price went through the 5 DMA six times in 8 days before the uptrend proceeded! In other words, there was a lot of volatility then, just as now. It's very difficult to set up anything more than a swing trade for me at this time. Here is my time and price target for a completion of this minor up trend. The next minor down trend should tell the tale, as far as a Higher or Lower Daily Low goes.

the 1st target reached. let's see the 2nd target.

Dow Trader wrote:

ultramarine wrote:[quote="Dow Traderquote="Dow Trader"]

KENA wrote:

Dow Trader wrote:

Hey Dow Trader --

What chart is this? sorry if I missed a previous reference to it. I've only been paying partial attention today.

I usually post many charts, which one you mean ?

The one on page 17 with the added text "bulls beware". Price looks like its around 32ish. Is that TNA? Can't tell because the top is cut off.

It is Vix hourly chart[/quote]

Ah. Ok, thanks. It seems to be hanging on for dear life to the trend line at the moment at 36.

soku wrote:feel like a break out then pull back. if es 1152 stands, we may see 1158-1160 area

it is too stretch. i cannot estimate the next move for now. feel like the momentum is not over yet.

what a squeeze I should not down play my uncle, I am back in hedge mode for the second time. lets go Bulls Up Up Ole Ole.

yup. looks like they want to play the end of game...game...again. would be for the 4th time this week.

i'm out of my shorts. and taking a small long position. it's just about 10-20 minutes too early to get too excited that they might try to run the market up 100+ points, but i'm sure going to be prepared if they do!

My audio TICK alert beeping bull, only second time all day, first time was just a quickie “buying” flash
Early early early squeeze alert .... not even close to confirmed yet
No harm in protecting yourself until we are sure