Cobra's Market View

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It's 2nd test of the 08/21 low, so key time, bears need either break the low decisively or consolidate for awhile before the break. Sharp rebound here would mean the low was in. Judging by the push down strength, probably the it's not just one legged though.

members only update starts here: http://www.cobrasmarketview.com/2013/08 ... ay-update/

But no body cares ...

SPX 15m, 60m. Watch to fill the two lower open gaps on the 60m. 1640-43ish, 1632-34ish.... watch the red and cyan line for possible channels. (invs H&S failure as the neckline broke yesterday late afternoon)

Closed Shorts at 8:45 AM. Set my target last night and it went automatically. Decline looks to be in earnest.
I will not be trading seriously today as my honey do list has gotten to be extensive and we are still in the middle of construction on my house (UGH). Good luck to all.

Hightower a.m. blurbs. GLTA.

US missile strike against Syria could come 'as early as Thursday': NBC

http://www.cnbc.com/id/100988767

smith wrote:US missile strike against Syria could come 'as early as Thursday': NBC

http://www.cnbc.com/id/100988767

Who manufactures Tomahawk cruise missiles?

USO gapped higher.

L_T wrote:

smith wrote:US missile strike against Syria could come 'as early as Thursday': NBC

http://www.cnbc.com/id/100988767

Who manufactures Tomahawk cruise missiles?

http://www.raytheon.com/capabilities/products/tomahawk/

a little too stretched, so a rebound first could be.

Out of Bounds wrote:

L_T wrote:

smith wrote:US missile strike against Syria could come 'as early as Thursday': NBC

http://www.cnbc.com/id/100988767

Who manufactures Tomahawk cruise missiles?

http://www.raytheon.com/capabilities/products/tomahawk/

Good stuff. Just so happens that the chart for RTN looks very nice. Other defense names GD, LMT, etc. also look good from a daily view.

Long. No change.

My summation index signal is neutral.
My composite trend indicator signal is down.

The dead cat bounce appears to have been just that.
My long only made it to no-man's land (a dangerous place) and not beyond.
The Dow has been leading, and my trend signal did not budge in the bounce.

My stop is in play as well as a trend signal short setup.
So, depending on how things go today, I could end up long, short or neutral.
I am guessing short at the moment, but we'll see how the day goes.

L_T wrote:

Out of Bounds wrote:

L_T wrote:

smith wrote:US missile strike against Syria could come 'as early as Thursday': NBC

http://www.cnbc.com/id/100988767

Who manufactures Tomahawk cruise missiles?

http://www.raytheon.com/capabilities/products/tomahawk/

Good stuff. Just so happens that the chart for RTN looks very nice. Other defense names GD, LMT, etc. also look good from a daily view.

Now that we seem to be in perpetual war, bullets seem to be a good investment.

As an aside, the capability of the Tomahawk is astounding. It is much more than a target-fire-and-forget missile. It can do things right out of the movies.

Don't forget about Boeing.... you know they will benefit from this

No buy Raytheon stock and their V1s for me...

http://warbirdsresourcegroup.org/LRG/v1.html

Harapa wrote:But no body cares ...

What's the time frame of that chart? Hourly?

morning hourly hollow red bar again. $SPY
http://stockcharts.com/public/1684859/c ... /296353091;