Cobra's Market View

The rough similarity between this bearish ascending wedge to the one on 9/12 to 9/16 (only stronger) suggests a possible double top in the 20 to 30 point range before a minor trend reversal.

uempel wrote:

Dow Trader wrote:If ES go above 1190.50 it is buy for scalping in my book

So you're scalping now...

yes, when I have an overnight positions under water

Dow, I think this rally has a few (very few) handles to go, I'm still waiting.

The German DAX has a double tweezer top on the daily. With this morning rally, we're helping the DAX bust that tweezer top.

agnosia wrote:

Dow Trader wrote:If ES go above 1190.50 it is buy for scalping in my book

what is your stop on that? 1190.5 was yesterdays cash close.

1180.50 with reverse
I have 2 targets :
1- 50% after 3 points
2- 50% after 20 points

/ZB completes a head and shoulders
minimum target of 138.39 and or 139 if you believe in fibs

Dow Trader wrote:

agnosia wrote:

Dow Trader wrote:If ES go above 1190.50 it is buy for scalping in my book

what is your stop on that? 1190.5 was yesterdays cash close.

1180.50 with reverse
I have 2 targets :
1- 50% after 3 points
2- 50% after 20 points

now I am out of 50% with +3 points holding the rest

I'm shorting the hell out of this crap when it hits 1207.

note to self: don't be short into a holiday monday...

over 4 handles in the pain since taking my short position into the weekend.

some guys have to be capitulating soon...marking the top perhaps??

Petsamo wrote:The German DAX has a double tweezer top on the daily. With this morning rally, we're helping the DAX bust that tweezer top.

Petsamo, that was well done calling the day's low on Friday. My mistake for contradicting you.

I sold my 5000 shares SDS at the close at 3:59PM on Friday.

I just now closed all my long positions that opened this morning. Now anticipating the 1207 level for a wonderful shorting opportunity. Watching closely.

Dow Trader wrote:

Dow Trader wrote:

agnosia wrote:

Dow Trader wrote:If ES go above 1190.50 it is buy for scalping in my book

what is your stop on that? 1190.5 was yesterdays cash close.

1180.50 with reverse
I have 2 targets :
1- 50% after 3 points
2- 50% after 20 points

now I am out of 50% with +3 points holding the rest

nice. 20 point scalp is pretty darn big on 2nd half i shorted 1194.5 pivot. stop even.

Trend Line, and early p-bar.

I never thought we will hit 120 Wow! I know that line but never thought this run will hit that, well, some shorts with no hedge is hurting no doubt, I have no hedge since yesterday in the red now wish I hedge some. eurusd is still under 5dma. DBV here not that strong either so I think bears still have a chance today.

Higher high, Cobra was right again, as always. Congratulation!

rhight wrote:The rough similarity between this bearish ascending wedge to the one on 9/12 to 9/16 (only stronger) suggests a possible double top in the 20 to 30 point range before a minor trend reversal.

Very Nice! I am waiting impatiently for it...
One observation....Most individual stocks refuse to go higher now, in spite of the indices still going up. One exception: AAPL, which is the "proxy" of Da Boyz's action...LOL!

took half off 1190.5 for +4 , leaving the rest with stop even.

In a strong up move like what we saw last 5 days, when market gaps big down (more than 8 points or so ) like today and the gap been filled, price should not visit today's low, if it go below it in the same day that would be a very bearish sign, so today's low is important because of the gap

Tried put a wave count on this for some perspective. Starting with 1150....I see wave I from 1150.26 to 1169.38, wave II to back to 1154.09, wave III up to 1191.35, wave IV back to 1181.96, with wave 5 topping off at 1201.08. This should in theory lead to a correction between 1138 and 1152.

One more push up I will start to unload 1/4 of my leveraged swing longs entered last week.