Cobra's Market View

SPX
"Stop the car!"
http://99ercharts.blogspot.com/2011/06/spx_6286.html

from the money flow, i see block trade out for SPY ~ good for bear ?

pullback to EMA20 as I said, now let's wait for H2. this is the setup recommended for beginners.

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TRADE UPDATE
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Oil is tanking - bad precursor the market in the coming days. We literally caught the highs of the day with our profit taking on USO calls! Nice job guys. There will be strong buys ahead in oil on the dips, just wait for my entry.

If the mkt continues this same path dn we will have another dome forming.Like the other day we had one and it went dn to the lowes of the day.Little bit to early to say it is but it is taking shape.You can see it on the line 1 min chart.Lets see.

well, i hate to say this: I still cannot believe the market wants to fall from here. but look at pink and green what's going on?

Cobra wrote:pullback to EMA20 as I said, now let's wait for H2. this is the setup recommended for beginners.

Cobra, could you elaborate on how this is good for beginners(me)? Sorry, I do not know. Also, could you explain the red and green line? Thanks in advance.

by the way, i have to go out from 2:00 pm ET, hopefully could be back before the market close.

debossman08 wrote:

Cobra wrote:pullback to EMA20 as I said, now let's wait for H2. this is the setup recommended for beginners.

Cobra, could you elaborate on how this is good for beginners(me)? Sorry, I do not know. Also, could you explain the red and green line? Thanks in advance.

pink = tlt
green = FXA:FXY

for beginner's setup check "Getting Start".

Cobra wrote:well, i hate to say this: I still cannot believe the market wants to fall from here. but look at pink and green what's going on?

Thanks Cobra, I am watching DBV here also, resistance at 5ma and up. not that impressive with descending triangle in the making, it's sure is a sensitive time.

We'll see, is ur sense or indicator right?

guelder_rose wrote:We'll see, is ur sense or indicator right?

usually chart pattern matters, so I say up up up ole' ole' ole', should close strong today.

a little earlier lunch today as I'm about to be out. still i think it's up.

Cobra wrote:a little earlier lunch today as I'm about to be out. still i think it's up.

thanx for ur hard work. have a nice day!

GM

Cobra could you share the direct link(stockcharts) of these chart please, thanks.
download/file.php?id=4099&mode=view

very short term OB, still digesting....

QQQ looks like double top :? :geek:

SPX
"Let's stay at this scenic spot for lunch, shall we?"
http://99ercharts.blogspot.com/2011/06/spx_4650.html
Did you pack the popcorn?

A drop below 129.13, bull flag no more. Bulls got to pull this one up

Wallstreetrader wrote:GM

Cobra could you share the direct link(stockcharts) of these chart please, thanks.
download/file.php?id=4099&mode=view

it's in my public chart list. always there.