Cobra's Market View

Gap down below Friday's low so chances are the gap won't be filled, not sure if this is a Broadening Top in the forming on the Global ES, which, even so, doesn't tell us much about the direction because the breakout of a Broadening Top could be on either side (upward 49.6%, downward 50.3%), so we'll have to wait and see...

Morning Laodaa! Hope you had a fun weekend ! I was in your country for the last week! Very beautiful...also went to a place in downtown toronto called Cobra Lounge...was hoping to see you there but as we all know....da snakezzzz r sneaakkyyyy and hard to spot!

Cobra wrote:Gap down below Friday's low so chances are the gap won't be filled, not sure if this is a Broadening Top in the forming on the Global ES, which, even so, doesn't tell us much about the direction because the breakout of a Broadening Top could be on either side (upward 49.6%, downward 50.3%), so we'll have to wait and see...

downside, this was already communicated by the banks, as I said, it was all guaranteed

Good Morning.

Venice?
EURUSD
http://99ercharts.blogspot.com/2011/07/eurusd_11.html

But there aren't any cliffs.
ES
http://99ercharts.blogspot.com/2011/07/es_11.html

Yes there are.
ES-Forecast
http://99ercharts.blogspot.com/2011/07/es-forecast.html
Their Alps.

AK84 wrote:Morning Laodaa! Hope you had a fun weekend ! I was in your country for the last week! Very beautiful...also went to a place in downtown toronto called Cobra Lounge...was hoping to see you there but as we all know....da snakezzzz r sneaakkyyyy and hard to spot!

well the euro in classical charting terms now has a target of about 1.31 after the breakdown from the triangle

GM,

Wow I like this market.

OIL: ready for one more notch down, to at least support #2 (37.2 zone)
Holding still 1/2 of the original puts.

Cobra,

A little off-topic question, but I didn't know where to post.

I read over your Cobra Impulse System notes over the weekend and wondered how you did your backtesting. For trade prices, did you use the close on the day of the signal, the open the day following the signal or something else? Just wondering.

Thanks.

Mr. BachNut wrote:Cobra,

A little off-topic question, but I didn't know where to post.

I read over your Cobra Impulse System notes over the weekend and wondered how you did your backtesting. For trade prices, did you use the close on the day of the signal, the open the day following the signal or something else? Just wondering.

Thanks.

The software cannot test exact price, so I have to use mid price for entry and exit, otherwise the model can be very precise about entry and exit price. I've explained this before. I'll write a specific post for all kinds of details about the model later.

the open.

I just bought ES @ 1223.50

Dow Trader wrote:I just bought ES @ 1223.50

Wow. You have that much confidence in the markets, eh?

hey guys. inverted h&s on /cl 15min chart. i have a buy stop @ 94.23 which will bring us to 94.60... the 94.94 gap has been filled. previous close was 96.19 but i don't think we get there.

My Official sell the rally is on, swing sell is on, sell low intraday is on.

Dow Trader wrote:I just bought ES @ 1223.50

Hi DT, now you're impatient...

Note what is happening with the USD (stockcharts no longer posts intraday, and so using UUP), on euro weakness. Could reverse of course depending on what happens in Washington.

uempel

Have a bottom date cycle on Thursday/Friday or so - I think we might see some nice panic this week in markets....

VIX chart looks bullish + lots of short ETF's , which means markets have a good chance heading lower near term.

long 94.80 on /cl