Cobra's Market View

Update - looking at the daily:

Tremendous short squeeze on Gold and GLD just beginning IMHO.

some trendlines... running into some resistance..

Buckethead wrote:This is a liquidity driven market. Understand this market has nothing to do with techinical analysis, fundamentals, macroecnomics, aapl price, nothing. It is just a function of liquidity and when bernanke says more liquidity coming YOU BUY. forget t/a, economic #'s, fundamentals.

Execellent comments. Great understanding of market!

very shallow pullback.

proteus46 wrote:SPY WEEKLY

High - 156.70
Low - 66.75

Range = 89.95

Target 66.75 + (89.95 * .86) = $ 144.11

From Thomas Bulkowski
http://www.thepatternsite.com/Fibonacci.html

Problem is that every comment I read mentions 1440...

this is already huge pullback bears could hope now.

If isee could close around there, this still is around top 3 of the record.

GLD confirmed breakout into new Fibonacci channel, out of descending wedge in yellow. Initial target on chart around $168.50.

First Roubini, and then the barrage of naysayers since December "market is due for a pullback" have cost more people more money than the recession itself by keeping them out of the market.

wow, we could pullback this huge, must be bears' dream come true.

SPX 1 minute...

I don't read this as a valid breakout, so bears could hope another day although I really don't hope much here.

SPX 1500 by April 14th I say.

MrMiyagi wrote:SPX 1500 by April 14th I say.

Amen

10 year monthly chart. Market has gone up way longer than this leg before having any meaningful pullback before. "too far too fast" means nothing in a bull market, but some people will never get that, in the process of making everyone else broke.

H1 long. I'm not sure as it's 13 min to close.

Cobra wrote:I don't read this as a valid breakout, so bears could hope another day although I really don't hope much here.

Cobra if you cant stop a speeding car does that mean more up tomorrow???

johnnywa wrote:

Cobra wrote:I don't read this as a valid breakout, so bears could hope another day although I really don't hope much here.

Cobra if you cant stop a speeding car does that mean more up tomorrow???

at least the very first pullback is buy.

well, guess that's it for today. normally a day like this, the next day should be a small range bar, there'll be a morning dip but the dip will be bought. thank you guys, I'll see you tomorrow.

long long term look. fwiw.