Cobra's Market View

Cobra wrote:text book target on this bear flag. I won't hope that much though.

Well there is an unfulfilled p-bar from past Wednesday at 137.25$.

Didn't know an ascending triangle could have a downside target..

MrMiyagi wrote:

Cobra wrote:text book target on this bear flag. I won't hope that much though.

Well there is an unfulfilled p-bar from past Wednesday at 137.25$.

Didn't know an ascending triangle could have a downside target..

lots of chart patterns have target on either side and this is why it's essential to wait the breakout before trading the chart pattern.

Cobra wrote:

MrMiyagi wrote:

Cobra wrote:text book target on this bear flag. I won't hope that much though.

Well there is an unfulfilled p-bar from past Wednesday at 137.25$.

Didn't know an ascending triangle could have a downside target..

lots of chart patterns have target on either side and this is why it's essential to wait the breakout before trading the chart pattern.

You're forgetting the only signal that matters: "The moon is that way [points up]".

1 minute, ok, this could be it...wave count looks like it could be complete...

sorry, Miyagi, it's hard to see....

ok a flat channel here, still is a bear flag.

we are going to get to 5dma today, sitting at 139.22 now.

1392ish could bounce, or break down hard.

Fas at new LOD, IWM is the weakest link.(TNA)

/ES there is hole in the floor.

BullBear52x wrote:/ES there is hole in the floor.

FWIW, 99er is showing a bearish Gartley for /ES on 4 hour chart
http://www.99ercharts.com/

ClarkW wrote:

BullBear52x wrote:/ES there is hole in the floor.

FWIW, 99er is showing a bearish Gartley for /ES on 4 hour chart
http://www.99ercharts.com/

Cool, Thanks.

I am expecting the Dip buyers to show up soon. they always do

BullBear52x wrote: I am expecting the Dip buyers to show up soon. they always do

Must be a dip holiday.

Europe markets closed tomorrow I believe, May 1st.

Tomorrow is a turn day and I just learned it should be a big move....wondering if it will be up or down??

TraderGirl wrote:Tomorrow is a turn day and I just learned it should be a big move....wondering if it will be up or down??

UP because Europe is closed thus no bad news!!!

TraderGirl wrote:Tomorrow is a turn day and I just learned it should be a big move....wondering if it will be up or down??

on a daily chart we seem to be close to hitting the 10 and 20 ema daily. it seems possible we could bounce first time. my stuff (10 and 30 day moving average of the nyse ad line some what like nymo/nysi on stockcharts) suggests we will be over bot about the time we hit the employment numbers on Friday. So i am trying to stay open minded until then.

for another perspective--we are closing the month down on qqq and aapl. my best guess is this doesn't mean we implode (for the big decline) but on qqq it makes things interesting about 2-4 months out. failure to catch air in the next 1-2 months not good for a larger move down. there are so many right now pushing the idea that the election means up--that the time frame in front of the election is interesting.

also i am not a big wave or ew guy--but on a monthly qqq even a guy like me can see a 5th wave here. it's more a question of size and less the overall pattern.

Allright.. all falling apart here. Time to buy some TZA before Power Hour.

TraderGirl wrote:Tomorrow is a turn day and I just learned it should be a big move....wondering if it will be up or down??

The Volume is very low. It is scary.
凶多吉少。

Look at the TRIN, not bearish at all. smelly

taggard wrote:

TraderGirl wrote:Tomorrow is a turn day and I just learned it should be a big move....wondering if it will be up or down??

on a daily chart we seem to be close to hitting the 10 and 20 ema daily. it seems possible we could bounce first time. my stuff (10 and 30 day moving average of the nyse ad line some what like nymo/nysi on stockcharts) suggests we will be over bot about the time we hit the employment numbers on Friday. So i am trying to stay open minded until then.

for another perspective--we are closing the month down on qqq and aapl. my best guess is this doesn't mean we implode (for the big decline) but on qqq it makes things interesting about 2-4 months out. failure to catch air in the next 1-2 months not good for a larger move down. there are so many right now pushing the idea that the election means up--that the time frame in front of the election is interesting.

also i am not a big wave or ew guy--but on a monthly qqq even a guy like me can see a 5th wave here. it's more a question of size and less the overall pattern.

Well the astro's say that we could be up into the 3rd when Mercury is aspecting Venus, which is enhanced by the fact that the Moon is in Venus. Venus represents money, and is favorable to the market.... and there is another turn on Friday, so it goes along with your hypothesis...

BullBear52x wrote:Look at the TRIN, not bearish at all. smelly

What ratio do you look for?