Cobra's Market View

Test to see if a new topic gets created that I can post a reply to. Testing, testing.

Test worked. Here is a long term view showing immediate support in the 1114 to 1120 area for Monday morning 10/3. This includes 2 trend lines (1117,1120) , horizontal (1114), 50% fib from 10/2007 closing high (1116), and 38.2% fib from 5/2011 high and horizontal (1102). In addition, the minor downtrend (last 4 days) channel support also lends support in around 1120. If we gap down on Monday, look for some kind of bounce here, if not a minor trend reversal back up to test the down trend line and declining moving averages. May update some timing studies later, but it looks like a busy day, so I may not have the time. Good luck to all, and check back later.

Updates

Gold http://99ercharts.blogspot.com/2011/10/gold.html
Silver http://99ercharts.blogspot.com/2011/10/silver.html

Updates

Copper http://99ercharts.blogspot.com/2011/10/copper.html
Crude http://99ercharts.blogspot.com/2011/10/crude.html
30-Year http://99ercharts.blogspot.com/2011/10/30y.html

Updates

SPX http://99ercharts.blogspot.com/2011/10/spx_01.html
SPX http://99ercharts.blogspot.com/2011/10/spx.html
RUT http://99ercharts.blogspot.com/2011/10/rut.html

Good morning guys!

Here are the cycles of GLD in Obama’s time. They were a pain to figure out, but I hope I got them right. Notice that they only loosely obey Hurst’s rules of “Harmonicity and Synchronicity”. Neither Fourier nor Fresnel cooperated with Hurst’s rigid laws… However, Hurst’s “summation effect” works, as best shown in the formation of a composite trough at election time…LOL!

Anyway, we are now testing support, while 3 cycles, even if right-translated, are sloping down.

On Friday, PALL (Physiscal Palladium) broke fan line support:

I will start with Volatility indexes, High volatility see MACD here, a path of least resistance is down.

daily formation still range bound but leaning bearish. Negative MACD and well below 50 RSI, not good.

Shor term trend is down, sell the rip is on. I like to post this chart since it clearly identify if we are in short term UP/Down, just to remind myself of which side the action is favored. the bigger picture we are still on range bound not trending market so high volatility is to be expected, on the other hand HL and LL is playing on this last stage so will treat it as such.

Pricing average is clearly show that it's weakening, for the price pays traders average down is winning trade.

what about Monday? intraday we should get support arround here, but since it's weekend this level is where a gap likely to make, so base on the trend directional I expected a gap down Monday. 113 is key number for next week. bulls defense here or we are straight to Aug. low

The liquidity side of thing is also negative on the lower see DBV here and UUP is breaking out is in the making.

Stock Market Recap.
http://btdmarketsummary.blogspot.com/

BullBear52x wrote:what about Monday? intraday we should get support arround here, but since it's weekend this level is where a gap likely to make, so base on the trend directional I expected a gap down Monday. 113 is key number for next week. bulls defense here or we are straight to Aug. low

IWM is also close to support (bottom of the octave) - but not yet there:

$ RUT monthly.
To note:
1. The drop under a previously significant MAE support.
2. The strategy (on sub-graph) that gave only one whipsaw: the famous “Ooops!” of 2006 - 2007...when clumsy bears spent so many sleepless nights…

Updates

EURUSD http://99ercharts.blogspot.com/2011/10/eurusd.html
ES http://99ercharts.blogspot.com/2011/10/es.html

Great charts, guys! Don't have a clue about cougar's IWM igloo there but it looks like a great place for BB52x' polar bears to hang out.

Have a great weekend!

[quote="99er"]Great charts, guys! Don't have a clue about cougar's IWM igloo there but it looks like a great place for BB52x' polar bears to hang out.
quote]

Yes 99er…LOL!
But look at what the price action tells us: When a bear descends into that igloo, it hibernates for a while... and "morphs" into a mighty bull that jumps UP through the chimney… to go HIGHER.
If you remember, both the igloo and the BUY signal (jump up) were published on Cobra’s, in almost real time, the afternoon of 9/26/2011. I went long exactly at that time.

rhight wrote:Test worked. Here is a long term view showing immediate support in the 1114 to 1120 area for Monday morning 10/3. This includes 2 trend lines (1117,1120) , horizontal (1114), 50% fib from 10/2007 closing high (1116), and 38.2% fib from 5/2011 high and horizontal (1102). In addition, the minor downtrend (last 4 days) channel support also lends support in around 1120. If we gap down on Monday, look for some kind of bounce here, if not a minor trend reversal back up to test the down trend line and declining moving averages. May update some timing studies later, but it looks like a busy day, so I may not have the time. Good luck to all, and check back later.

Hey “right”!
I think that we both look at the same series of lower targets.
I like 1112 and in particular 1102, for reasons obvious on the chart below.

SPX 60 min with fan, nested envelopes and extension levels: