Cobra's Market View

silicon_beaver wrote:

vancouverea wrote:

Cobra wrote:by the way, any of you guys remember what happened the last time we had a new record online? We had a new record again yesterday, so it could mean a pivot point? Any thoughts?

this board will have more ppl coming~

Definitely for sure.

Of course, "If you build it, they will come"

Good morning all,
Been busy doing a long term trend line study of SPX that is applicable to the current state of the market.


The first image shows the up trend from the March 2009 Low, with 4 points of contact (3 shown) that makes a near perfect line (within 0.1 point) using Daily Lows. This is close to a Gann 1:1 slope (Price:Day)


The second image shows the down trend from the October 2007 High, with 3 points of contact that makes a near perfect line (within 0.5 point) using Daily Closes. This is close to a Gann -1:4 slope (Price:Day)

All in all, rather remarkable results considering the span of time involved. Makes you wonder. At any rate, going forward it will be interesting to see how Price responds the next time these lines are encountered, and which will fail first. No opinions given.

Benny said QE3 may not be there. He's under fire from the hearing on QE3.

If no QE3, we'll have fireworks to get QE3.

BullBear52x wrote:last stand for Bulls

You guys, DOW theory discount all news. I read news some times but if it's from AP I just skip it, not worth my time to ready any thing from AP.

volume surge, so may see rebound of some kind here, the next bar will tell, bulls need a H1 at least.

Me XMan wrote:Benny said QE3 may not be there. He's under fire from the hearing on QE3.

If no QE3, we'll have fireworks to get QE3.

BullBear52x wrote:last stand for Bulls

He will make history but it won't be a kind one to him. anyways it's tough job he's in S**t if you do S**T if you don't type situation.

soku wrote:

soku wrote:heads up. ben is talking about possible rate hike in case of t downgrade. dx rally, es is still hesitating

wow he is saying further qe may not be effective!

Maybe Big Ben has friends that are short in the mkt.

Cobra. Do you see H&S in 5min and 15min in 3 days?

Cobra wrote:volume surge, so may see rebound of some kind here, the next bar will tell, bulls need a H1 at least.

23.6% retracement @ 97.16 is holding on crude...

Cobra wrote:volume surge, so may see rebound of some kind here, the next bar will tell, bulls need a H1 at least.

Ben said " No QE 3".
So sell sell sell

H1, let's see how this rebound goes, so far feel not good for bulls...

agnosia wrote:23.6% retracement @ 97.16 is holding on crude...

I think we go lower. In the money with trailing stop, though.

selling is still high not a chance for bull at this moment....may be another try 30min later?

My Contribution :

Cobra wrote:H1, let's see how this rebound goes, so far feel not good for bulls...

CObra, what's a H1?

ChiOsc still low. not sure what's the next...

WhyNot wrote:

Cobra wrote:H1, let's see how this rebound goes, so far feel not good for bulls...

CObra, what's a H1?

Go see "Getting Start", it's another forum other than the current one.

Chi could get even lower.... we dont even have a bullish macd divergence on 60 min chart....

SPX to 1295-1300 first target... then we see if that holds imho , if not panic will come....3rd time on MA(200) like a charm

Anaconda wrote:

agnosia wrote:23.6% retracement @ 97.16 is holding on crude...

I think we go lower. In the money with trailing stop, though.

nice trade anaconda... my hourly just signaled a sell.

reminder max pain is at 132.00