Cobra's Market View

Went long FAZ 5 minutes ago

ugly black candlesticks on apple and the q's and many others. Could be marking a top...although bears will have to earn their money and navigate retrace after retrace.

head and shoulder on 15 min chart . target 1202 reached. going long here a little bit

1 hour channels were broken for SPY/QQQ, didn't check others yet.
could be bloody tomorrow

SPX
Update.
http://99ercharts.blogspot.com/2011/10/spx_44.html

close below 1205 and it's bearish.

thats the desceding line that connects the august and september high.

waverider wrote:Went long FAZ 5 minutes ago

k-rap, I cant long faz yet, still under my vwap, and too near close, my rules suck

ultramarine wrote:TZA has broken below the Aug 31 low. I got stopped out earlier today from a longer swing trade position. Live to fight another day.

I don't chart TZA for entry or exit , I chart IWM.

cannot believe bulls cannot even hold to close but at least my 2 legged pullback call is right. First day on Twitter, gladly I made most right calls. I don't know if we continue pullback tomorrow, but the big picture still it's rare we just had a one legged up, so don't expect bulls to easily give up. We'll see. Thank you guys, I'll see you tomorrow. I'm excited to be on Twitter!

Oh, it's a little overshot here, so probably a rebound of some kind here if not because the market is about to close.

A few points away and Russell should be ready for the real shorting. See chart. The big boys are playing this rally for all it is worth. Check out the Aroon and the bouncing around at this top. NOTE: You can see divergence on this chart. MACD and Stochastics moving down, with prices moving up.

The sharks are cashing in at these price levels before the EOD here. This is a straight up, take-profit / sell program initiated near the close to rip the face off late bull-comers.

Then, when we correct and everybody turns bearish again, they will do the same and launch their nasty buy programs near the end of the day to rip the face off late bear-comers.

This will continue on, with an upside bias in the intermediate term, until he music stops and the fundamentals (rotting financial system loaded with private and public debt burden) rears its ugly head.

When that happens, it'll be game over and we will challenge the March 2009 lows. Could take a month or two. But until then, we are in JBTFD mode.

Assuming SPY close above lows, break points to 118.75. Otherwise, like, I dunno, 140

Cobra wrote:cannot believe bulls cannot even hold to close but at least my 2 legged pullback call is right. First day on Twitter, gladly I made most right calls. I don't know if we continue pullback tomorrow, but the big picture still it's rare we just had a one legged up, so don't expect bulls to easily give up. We'll see. Thank you guys, I'll see you tomorrow. I'm excited to be on Twitter!

Oh, it's a little overshot here, so probably a rebound of some kind here if not because the market is about to close.

great tweets!
avatar comes out nicely in tweetdeck!

Cobra wrote:cannot believe bulls cannot even hold to close but at least my 2 legged pullback call is right. First day on Twitter, gladly I made most right calls. I don't know if we continue pullback tomorrow, but the big picture still it's rare we just had a one legged up, so don't expect bulls to easily give up. We'll see. Thank you guys, I'll see you tomorrow. I'm excited to be on Twitter!

Oh, it's a little overshot here, so probably a rebound of some kind here if not because the market is about to close.

Cobra what is ur twitter?

BullTart wrote:The sharks are cashing in at these price levels before the EOD here. This is a straight up, take-profit / sell program initiated near the close to rip the face off late bull-comers.

Then, when we correct and everybody turns bearish again, they will do the same and launch their nasty buy programs near the end of the day to rip the face off late bear-comers.

This will continue on, with an upside bias in the intermediate term, until he music stops and the fundamentals (rotting financial system loaded with private and public debt burden) rears its ugly head.

When that happens, it'll be game over and we will challenge the March 2009 lows. Could take a month or two. But until then, we are in JBTFD mode.

Thanks for the update bulltart, I appreciate it. You think tvix will go up again tomorrow?

Thanks Cobra and everyone with great insights keep them coming.GLTA

Al_Dente wrote:

waverider wrote:Went long FAZ 5 minutes ago

k-rap, I cant long faz yet, still under my vwap, and too near close, my rules suck

We'll see what happens tomorrow.

Cobra wrote:cannot believe bulls cannot even hold to close but at least my 2 legged pullback call is right. First day on Twitter, gladly I made most right calls. I don't know if we continue pullback tomorrow, but the big picture still it's rare we just had a one legged up, so don't expect bulls to easily give up. We'll see. Thank you guys, I'll see you tomorrow. I'm excited to be on Twitter!

Oh, it's a little overshot here, so probably a rebound of some kind here if not because the market is about to close.

As usual, you ARE the man, Cobra! You are right a majority of the time. Simply amazing. Thanks for your awesome site ... and your market prescience.

3.97 million last buy in IWM
4.19 million last buy in SPY

Looks like the big boys are betting we gap up tomorrow.

WOw.

1.18% down from the highs to closing price.

More down to come, IMO.

118ish to come.

Beautiful shooting star candle - SPY.