Cobra's Market View

Another gap up, huge, and out of yesterday's range, so chances are the gap won't be filled. This market really is afraid of nothing after 2 years of brainwash.

The Global ES doesn't look pretty though, pretty much another Bearish Rising Wedge in the forming, so chances are it should eventually breakdown, well, again, it should doesn't mean it would, we'll have to wait and see.

Euro:

The temporary easing of fears in Europe may favor some bounces in stock markets.
http://cyclestockmarketwinner.blogspot.com

Stock market video: "Prepare for the Next Big Currency and Equities Move Now"

http://stk.ly/vy3Ji6

Good Morning.

Honey...what's for breakfast?
http://99ercharts.blogspot.com/2011/11/euro-zone.html

Besides a cartoon.

TGIF.

Breakfast?
EURUSD http://99ercharts.blogspot.com/2011/11/eurusd_11.html

How about toast?

Let's skip breakfast...
ES http://99ercharts.blogspot.com/2011/11/es_11.html

And head for the beach.

GLTA.

Good Morning Cobra,

Have you looked at using Elder Impulse System candles on intraday..any thoughts on reducing whipsaws..

Today bond market is closed...

Thanks

Good morning all
US bond market is closed today
Pre market: austerity approved in Italy. FT.com says “We are all Italians”
Search using the headline “Smirks about Italy miss deeper truth”
http://www.ft.com/intl/cms/s/0/a9b07fb8 ... z1dOtahx6h

Greek Lucas Papademos, former vice president of the ECB, is widely respected as a “brilliant” economist who is expected to de-regulate and turn Greece around.
http://www.nytimes.com/2011/11/11/world ... &emc=tha22

Please chirp if you spot a crisis du jour

GM. Everything is solved in Europe the world is saved so up.up, and away.Ha.I just finished reading a book titled " Aftershock".You guys should read it,if the writers are right we are in for hard times in 3-5 years.It is something to watch and have in back of your minds but life goes on.I forget where I heard about it but I picked up a copy at the libiary. Forgive my spelling it is not one of best gifts in life.Now lets trade.Maybe I will sell one of my hedges today.Lets see.

lazytrader wrote:Good Morning Cobra,

Have you looked at using Elder Impulse System candles on intraday..any thoughts on reducing whipsaws..

Today bond market is closed...

Thanks

I don't have any good idea to reduce the whipsaws.

DWCF Weekly
http://99ercharts.blogspot.com/2011/11/dwcf_11.html

"Before..."

GM!
So-called good news from Greece and Italy will be skillfully inflated, to give us a healthy “rally” and a cozy and anesthetized weekend…IWM and QQQ will be (in my opinion ) good bouncers…
I prefer IWM, which is already at first resistance (73.3). A next step, could take it to the upper limit of the Regression Channel or even the top of the Acceleration Band.

PAGING CHINA (and commodity) WATCHERS
China’s real estate “boom”
http://www.nytimes.com/2011/11/11/busin ... &emc=tha25

“China’s commodities demand levels off”
http://www.ft.com/intl/cms/s/0/927e7ba6 ... z1dOtahx6h

“China export growth dips as EU slows”
http://www.ft.com/intl/cms/s/0/fce7b050 ... z1dOtahx6h

AAPL support and potential bounce:

wow...400 pts down with absolutely 0 follow through. ECB buys Italian bonds and market goes crazy.

I'm extremely confused right now, any elliot wavers out there that can help??? Aren't we currently in a 3-3-3-2 minor wave up? I've never been more convinced of anything, but maybe I'm wrong. I guess that is still in play as long as we don't break 1276. I'll be taking on a nasty loss just to see if that is right or not. Thanks in advance for any help!

the open. way too stretched.

EUR/USD is approching 1.369 just an inch from the RL 1.3697. No! I definitely don't want to chase this bounce!

Cobra wrote:the open. way too stretched.

Thats OK Cobra..The world is saved.