Cobra's Market View

Looks like Major Easy already started the weekend. Thanks for the posts.

agnosia: "i'm gonna dump all my positions - headline risk for greece is too high."

"The troika (aka the International Monetary Fund, the European Commission and the European Central Bank) asserts in its report to be presented next week that Greece had missed all its agreed fiscal targets," weekly Spiegel magazine reported in a prerelease. In other words, this could be the political game over for Greece, whose fate as has been disclosed recently, is intimately tied with the perception that it is following the troika's demands for fiscal change. If the three key bailout institutions are already leaking that Greece is done, next week could well be the beginning of the end for the €. In about 48 hours, even as America is enjoying a Monday off (or precisely because to that, to avoid a market panic), the European market could be digesting a very bitter pill of testing just how well pre-provisioned all those German, French and Dutch banks really are.

http://www.zerohedge.com/article/spiege ... xt-steps-g

Great call!

EURJPY: http://99ercharts.blogspot.com/2011/05/eurjpy.html

EURUSD http://99ercharts.blogspot.com/2011/05/eurusd_7758.html

For bulls

Another one for Bulls

For Bears

Another one for Bears

For Bulls and Bears

For all, 13/34 ma used to mean something. this time is different I know I know.

I have hard time posting the past few days, I thought Cobra put me on the spam list
+++100 Nice weekend report Cobra, you are more bearish than I am that is scary, well, 90% of the people are bullish and everyone talking about final W5...haha, It's already here two weeks ago I joke I joke

BKX http://99ercharts.blogspot.com/2011/05/bkx.html
VIX http://99ercharts.blogspot.com/2011/05/vix_29.html
And more. http://99ercharts.blogspot.com/

S&P 500 1947 to Date

http://www.zerohedge.com/sites/default/ ... ection.jpg

Memorial Monday Update

EURUSD http://99ercharts.blogspot.com/2011/05/eurusd_30.html
ES http://99ercharts.blogspot.com/2011/05/es_30.html
NQ http://99ercharts.blogspot.com/2011/05/nq_30.html

Last leg down Fib retracements, all 4 biggies are running into 50% resistance area.

FAS/FAZers, FAS completed it's IHS, if bull flag were to be success 29ish is next target.

SMH is still under the water but close to a break out.

TZA got some positive MACD moving here, breaks out the down wedge line should provide a short term buy trade. GL trading in the week to come.

YM
Update.
http://99ercharts.blogspot.com/2011/05/ym_30.html

chart shows this mornings pre-market price,
there "might" be andrews fork resistance at $58.00.

Andrews Forks and Bisects assume the market has symmetry,
ie: "for every action there's a reaction"
i never take my forks too seriously, and i don't believe in market symmetry,
so my charts are strictly "entertainment only"

Possible Paths
my guess is that 127.00 now looks possible since the dotted line failed,
what's your guess?