Cobra's Market View

Flat open, nothing to say. The chart looks like there should be one more leg down though, just hard to say how far the current rebound would go.
Institutional actions from stocktiming.

morning

Good Morning.

ES 4-hour chart has a possible H&S targeting 1319 and a possible second H&S targeting 1283. If both prove valid, then the bullish IH&S target of 1432 gets tossed. At any rate, it's tough to feel bullish as we head down towards the 61.8% retrace of the prior high. Good luck.

ES: http://99ercharts.blogspot.com/2011/05/es_04.html

GOOD MORING Cobra

Feels like a coil... i traded the /es last night and there are some HUGE bids at 1345-56 ... Someone big didn't wan't the /es to fall below that level yesterday. It was an easy trade to go long at that level. Also there were some sellers at 1355 but nearly as large as the bidders below.

Rebound to 1366 or so is due. Even if pullback to 1340 then still rebound to 1366.

Hi guys,

Geomagnetism trumped positive seasonality and moon phase the last couple of days (see planetary A index below and how it affects the market) but subsided now
For those interested, I've put together a forecast model for the rest of May combining the geomagnetism forecast, moon phase and seasonality, and it advocates long today and tomorrow:

http://amalgamator.co.uk/2011May4th.aspx

fascinating!

amalgamator wrote:Hi guys,

Geomagnetism trumped positive seasonality and moon phase the last couple of days (see planetary A index below and how it affects the market) but subsided now

4may1.gif

4may2.gif

For those interested, I've put together a forecast model for the rest of May combining the geomagnetism forecast, moon phase and seasonality, and it advocates long today and tomorrow:

http://amalgamator.co.uk/2011May4th.aspx

The open.

the catch today is AUDJPY is very weak.

good call on aud/jpy cobra... aka the carry trade. apparently some of the big position traders have been selling their AUD positions. maybe china inflation fears..

nothing to say. the general pattern should be to revisit yesterday's low most likely a lower low. but we'll have to wait and see.

just to remember where the support is.

OK, here we go, testing the overnight low. I'm expecting a lower low. a decisively breakdown would be very bad though. let's see.

GM,
FAZ!!!! finacial finally give in to the bears.

channel support.

EURUSD
Great effort, Monsieur Trichet.
http://99ercharts.blogspot.com/2011/05/eurusd_04.html
The market is bigger than you.

133.35, gap support area and fibbo 50% for support spy

VXD Sell the Rally! Fear is back on DOW per VXD

VIX and VXN are not yet confirmed long tern sell the rally, but DOW is in.

rebound from support. a little overshot here. no idea how rebound would go. wait and see.