Cobra's Market View

CognitiveDissonance wrote: Pady, what do you think of the idea that if bulls don't break 1258 then this is the end of wave 2?

It is within the right 61.8 retrace. So there is hope for bears. But I would have liked to seen some impulsive down at EOD. But sometimes I have seen a nice 1-2 done at EOD and then a big gap down/up to complete 3. So this seems right in the middle. Also timeline wise I keep thinking we are not ready for a huge fall. Maybe 1186 seems a good bet for bears.

Trendline support. Horizontal price level support. 61.8% retrace of the last measured move to the tick. BUT, it looks like it's locked inside a range on the 5 min.

LONG RIMM from here !
Green close is predicted.

wow very bullish pattern on 1min macd.

I guess they are trying very hard to break that 90% rule of cobra.

Charts look like a cup & handle

This is a very, very strong rally.. again don't underestimate it!

i guess bulls won again...glad to be out...

Range break higher.

tdo722 wrote:closed my UUP position at 3 pennies gained, everything is consolidating and vix is dropping. screw this.

LoL, I knew something smells fishy looking at good ole vix.

tdo722 wrote:wow very bullish pattern on 1min macd.

I guess they are trying very hard to break that 90% rule of cobra.

What f*** manipulation! We are all smart enough to know that this big run-up in the last few minutes is NOT retail folks saying, "Yippee, I must jump on board right now." Another short squeeze after they also blew out a bunch of bulls.

noob wrote:Cobra, does this mean you are bearish? Thanks!

Cobra wrote:

xfradnex wrote:

Cobra wrote:target, 75% chances even it's failed, within day or two, here, will be revisited.

Cobra, Your target was met from this morning . Do you have another odds call. Thank you.

don't buy today's close. chances are you'll regret.

no, just very short-term statistics.

GAP up in the nyadv 5 min sticks (rare)
They r going to try to run them into the close
Friday, 3:49 ET, most gone home already

strong close so far, but still fighting on MA200 red line.

who wants some freshly made lemonade? squeeeeeeeeeeeeeeeeezeeeee.

market makers are making sure you have a sack of rocks to hold shorts over the weekend...i'm IN! holding short.

Update

ES http://99ercharts.blogspot.com/2011/11/es_4929.html

One more possibility - 1215-1263 wave A, 1263-1239 B, 1239-1287 C. This will also give some kind of double top and gain time for the correction.

No range break higher on the NDX though . . .

99er wrote:Update

ES http://99ercharts.blogspot.com/2011/11/es_4929.html

Your charts are always amazing!

A lot of overlap...... that's not good for bulls

i meant bears won