Cobra's Market View

Flat open within Friday's range, so any gap will be filled. Right now, hard to call Global ES, may look like an Ascending Triangle therefore if breakout again, another strong push up day which sounds very unbelievable. On the other hand, you can read it as tried 3 times on the upside but all failed, therefore chances of breaking down are higher. Either way, the only thing we can do now is to wait.
Institutional actions from stocktiming.

thanks.

Good morning, Cobra!
The McClellan oscillator reached on Friday a level not seen since Jul 26 2010.
Time for a correction.

AAPL and XLF reached critical resistance zones.
In the absence of new impulsive breakouts, we might see here the formation new consolidation zones.

AAPL

XLF

Good Morning.

Honey...what would you like for Christmas?
EURUSD http://99ercharts.blogspot.com/2011/07/eurusd_05.html
How about a Greek island?

What for?
ES http://99ercharts.blogspot.com/2011/07/es_05.html
Why...cliff diving of course.

The open.

Cliff diving?
SPX http://99ercharts.blogspot.com/2011/07/spx_05.html
Sounds fun!

this should be a 2 legged pullback on 5 min chart. green line is the Rising Wedge text book target. I don't believe the target yet as it looks like a bear's dream but let's wait and see.

99er wrote:Cliff diving?
SPX http://99ercharts.blogspot.com/2011/07/spx_05.html
Sounds fun!

99 - missed you and your charts Thurs and Friday; I was on the road, unfortunately. (Got stopped out on all my shorts on Thursday too, dang it.) I looked at money flow over the weekend and it continues to defy all logic that our markets are going up, as the money flow declines. Volume is still anemic. Read an interesting article on corporate stock buy-backs vs. insider selling. Appears that execs are selling their socks off, as the companies they manage are buying back their own stock. C'est la vie...

Happy trading.
A

GM,

Only IWM is a sell right at the moment, Qs is strong, DIA and SPY so so about to give any time new LOD is a sell signal on my read.

DUmping start now.

I just add more longs to Euro with stop and reverse at Greec vote low my target 1.4600

Gap closed.

Now the bear show can begin.

I'm totally clueless. Oil is up big with tiny volume, is it good chance to chase?

TICK and TICK/Q is not supporting the current price, the selling pressure is high.

patience bears, wave [iv] correction then a little push up to finish 1 at around 1345 me thinks, then you get your pullback

alphahorn wrote:patience bears, wave [iv] correction then a little push up to finish 1 at around 1345 me thinks, then you get your pullback

Thanks alphahorn, LOD my selling will be triggered for intraday trade.