Cobra's Market View

Gap down below yesterday's low so chances are the gap won't be filled.

Global ES is clearly at key time, the support has been tested 3 times, now let's see if the 4th time could make any differences. The possible Double Top target is shown on the chart, I think the breakout of the neckline is real, so the target might be possible.

Morning Cobra, where's the "this is too stretched" talk?

Good morning. This is my first post here and I just wanted to greet all and thank Sir Cobra for all of the daily market charts and guidance. I am a full time trader and appreciate the perspective and updates provided via Twitter.

A confirmed FIVER in the dollar (/DX) on a 60 min chart. GLTA jimme

Interesting points on gold and silver article:

http://goo.gl/wZg04

Ain't saying anything but let my shorts ride

the open.

Per DeMark Range Expansion Algo

eventually, eventually it's over. for the past couple weeks we see a low volume low volatility melt up, which is a market dumb money buy and hope while pro traders do nothing.
since the low quality of the up trend, we don't have many supports. i think 1330 area maybe the first stop. and here is a list of some factual numbers based on SPX.
1352.28, low of 2/23/2012
1337.35, low of 2/10/2012
1300.49, low of 1/30/2012
1258.78, 200-day SMA

a little bit bigger picture. no comments.

Cobra wrote:Gap down below yesterday's low so chances are the gap won't be filled.

Global ES is clearly at key time, the support has been tested 3 times, now let's see if the 4th time could make any differences. The possible Double Top target is shown on the chart, I think the breakout of the neckline is real, so the target might be possible.

GM Cobra,
The target, is it for the entire correction or for today?
I know the board is for day trading and hence this question.
Thanks for your kind answer.
BBF

SOKU..Here is a fairlly new stock that poped up for me the other day..It is just about your name..Watch "YOKU" It has had both a dn move and up tending..Who knows it could turn out to be a good one (maybe)..Let me know if you find out any on it.Wait and see.

SPX: Now there is no doubt that a top is in plce

I think I am going to take half of the afternoon off to enjoy the shorts

Below I have a possible count, but be aware that with corrective patterns it is not easy to nail the correct EWP.

(thewavetrading.com)

Me XMan wrote:Ain't saying anything but let my shorts ride

YES CELEBRATION TIME !!!!!

KENA wrote:SOKU..Here is a fairlly new stock that poped up for me the other day..It is just about your name..Watch "YOKU" It has had both a dn move and up tending..Who knows it could turn out to be a good one (maybe)..Let me know if you find out any on it.Wait and see.

well i started here with a user id of yoku for reason. soku is just another website of yoku. i cannot comment on it.
did u short yr pet? worst stock in d30 for couple days

TWT wrote:

Me XMan wrote:Ain't saying anything but let my shorts ride

YES CELEBRATION TIME !!!!!

Can you post your latest TVIX chart.

Bulls have faith: the day is still young but a couple of these short term setups may come to fruition by the end of the day if SPY stays put or goes lower.

BBFinance wrote:

Cobra wrote:Gap down below yesterday's low so chances are the gap won't be filled.

Global ES is clearly at key time, the support has been tested 3 times, now let's see if the 4th time could make any differences. The possible Double Top target is shown on the chart, I think the breakout of the neckline is real, so the target might be possible.

GM Cobra,
The target, is it for the entire correction or for today?
I know the board is for day trading and hence this question.
Thanks for your kind answer.
BBF

I don't believe it's for today and it doesn't have to be hit exactly, it just means more down ahead, that's it. Double Top has 72% chances to meet the target.

this correction will last couple more days, $NYHL now in the red, DBV confirmed down also today. not good

SB73 wrote:

TWT wrote:

Me XMan wrote:Ain't saying anything but let my shorts ride

YES CELEBRATION TIME !!!!!

Can you post your latest TVIX chart.

You must be joking I am out for the next 3 hours ::::::::::::::.