Cobra's Market View

Some charts...

SPX 2H http://99ercharts.blogspot.com/2011/06/spx_11.html
SPX Weekly http://99ercharts.blogspot.com/2011/06/spx-w.html
EURUSD http://99ercharts.blogspot.com/2011/06/eurusd_11.html
ES http://99ercharts.blogspot.com/2011/06/es_11.html
Copper http://99ercharts.blogspot.com/2011/06/copper_11.html
Crude http://99ercharts.blogspot.com/2011/06/crude_11.html
Gold http://99ercharts.blogspot.com/2011/06/gold_11.html
Silver http://99ercharts.blogspot.com/2011/06/silver_11.html
30-Year http://99ercharts.blogspot.com/2011/06/30y_11.html

Have a great weekend!

99er wrote:Some charts...

SPX 2H http://99ercharts.blogspot.com/2011/06/spx_11.html
SPX Weekly http://99ercharts.blogspot.com/2011/06/spx-w.html
EURUSD http://99ercharts.blogspot.com/2011/06/eurusd_11.html
ES http://99ercharts.blogspot.com/2011/06/es_11.html
Copper http://99ercharts.blogspot.com/2011/06/copper_11.html
Crude http://99ercharts.blogspot.com/2011/06/crude_11.html
Gold http://99ercharts.blogspot.com/2011/06/gold_11.html
Silver http://99ercharts.blogspot.com/2011/06/silver_11.html
30-Year http://99ercharts.blogspot.com/2011/06/30y_11.html

Have a great weekend!

Thanks 99er

Lets look at common support and resistance line. we are now technically speaking at a support level of 127ish. next common one will be somewhere in 125ish also coincides with fib 76.4% from March 09.

short term trend is clearly down. MACD or RSI is still negative.

As we traded down this far, I think the major neck line is in the making around 125ish

Lastly, Last Friday intraday action: we are still in sell only a trade above 128 will interest me as a buyer.

On the Dollar front, UUP is right at middle BB resistance, for some of us who wish for the destruction of US dollar so that their equity portfolio will get fat this is a good play to buy equities, commodities, and sell the dollar. BUT.....watch out if UUP can move past the middle BB.

DBV, watch 24 level, trades < 24 expecting more of a down side to come in SPX. OK that's all my rant, wish everyone another killing week again

Three more

RUT http://99ercharts.blogspot.com/2011/06/rut_12.html
EURJPY http://99ercharts.blogspot.com/2011/06/eurjpy_12.html
USDJPY http://99ercharts.blogspot.com/2011/06/eurusd_12.html

Monday Fun!

FAS/FAZERs

FAS has shown a sign of strength on last Friday trading, a success Positive D. sure there is lots of resistances above but I find the price trade above 23.40 to be attractive, looks like it wants to fill the gap at 25. That's not a bad gain for a scalper. 23.4 is the number since MACD and RSI shown a sign of strength, bears got to give financial a little respect if a rebound were to form.

SMH looks like it will experience another bear flag. not pretty.