Cobra's Market View

Large gap down below yesterday's low so the gap might not get filled. Clear from the Global ES, it's a breakdown below a consolidation area then back tested the breakdown point, so there're chances that the breakdown is real, be careful here.
Institutional actions from Stocktiming.

morning, master Cobra and everyone.

Hi guys, highest level of solar activity in this solar cycle so far, 153 sunspots, caution:

Indeed, a weak thursday open. I didn't expect it but I was positioned with some puts in case and no longs. Thursdays are known to trend so today could be a distribution day and a trend day. The cycle of April 15th looks like a bottom, and even if it's a top, the trend is down so shorts are safe no matter what heading into tomorrow.

A best short entry might be ES 1306 since that's a backtest of the breakdown area.

cletus wrote:Indeed, a weak thursday open. I didn't expect it but I was positioned with some puts in case and no longs. Thursdays are known to trend so today could be a distribution day and a trend day. The cycle of April 15th looks like a bottom, and even if it's a top, the trend is down so shorts are safe no matter what heading into tomorrow.

A best short entry might be ES 1306 since that's a backtest of the breakdown area.

from daily chart,looks like a buy at es 1300

Just for fun...

I'll let you guys pick it, interesting no?

the open.

the bigger picture, support is not far away.

NQ no lower low yet, so today is still very hard to say. Remember we don't have a trend day (I mean from open to close kind of trend day) for long long time?

Hi all from Paris,
1st try to post...
surely more to come...double top ?

champix wrote:Hi all from Paris,
1st try to post...
surely more to come...double top ?

don't see the chart. you can go to "Getting Start" to see how to upload images. Thanks and welcome aboard!

None of the volume in ETFs like XLF or IYR suggest anyone is buying today's open.

Morning.
ES update: 1300 target hit; 1270 next.
http://99ercharts.blogspot.com/2011/04/es_14.html

Hi Cobra,

Are we there yet?

Cobra Impulse System

"if gap down open below today’s low tomorrow, please use 15 min Open Range breakdown as the confirmation."

"If the short setup is confirmed tomorrow, then Cobra Impulse System will be officially in sell mode which also officially to me the intermediate-term trend is down."

support.

Target nearly met here, but bottom line, it is not met and there is no big volume to suggest buyers coming in yet, so likely today trends down.

morning gang.
i see a gang of lower highs and lower lows. es 1304-1305 now becomes strong resistance.
we will go lower. YES!

Rocket_Man88 wrote:Hi Cobra,

Are we there yet?

Cobra Impulse System

"if gap down open below today’s low tomorrow, please use 15 min Open Range breakdown as the confirmation."

"If the short setup is confirmed tomorrow, then Cobra Impulse System will be officially in sell mode which also officially to me the intermediate-term trend is down."

all I can say are that today bears have chances. If it can breakdown 30 min OR, than bear has 70% chances and if after 10:30am ET there's lower low, then bear has 90% chances. For now, I'm looking at QQQ, still no lower low, so the fighting is far from over!

rebound from support. since qqq has no lower low, so I think bulls are not over yet. the fighting is still on.

We hit the 38% retrace on this wave 2 down on SPY. 50% is around 129.60. So we either hold here and start to rally in wave 3 or we retrace to the 50% fib at 129.60 area.