Cobra's Market View

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Huge gap down so chances are the gap won't be filled.

Temporarily maintain the Double Top target around ES 1366, mentioned in 04/05 Market Outlook. The overnight session, so far, looks like a Bear Flag, so chances are it'd resume the downtrend sometimes later.

They better not hammer my Spain, dangit!
I'm in EWP.

Possible over-shoot of 61.8 Fib line around 1371

I think SPX 1369 will hold.

If SPX 1364-1365 is reached that would be a good counter-trend daytrade for going long XIV .

GM, Cobra: Is today a buying opportinuty?

oldpigwang wrote:GM, Cobra: Is today a buying opportinuty?

I cannot answer directly. see 04/05 Market Outlook, judging the odds by yourself.

Cobra,

Any insight to the "open low and go higher" trend for a bad NFP?

Thanks!

the open. this is way too stretched, so should be rebound of something here.

I posted this chart of the VIX on 3/27...Ha! It worked again.....the triangle target has usually been overshot....

They say no China hard or soft landing,the are re accelerating allready,what does that do for bearish case.I thought China have big slowdown effect U.S exports.Cobra you chinese whats your take whats going on over there

cobra consolidition here is BAD for bulls ?

johnnywa wrote:They say no China hard or soft landing,the are re accelerating allready,what does that do for bearish case.I thought China have big slowdown effect U.S exports.Cobra you chinese whats your take whats going on over there

China is already beat up.

Petsamo wrote:

johnnywa wrote:They say no China hard or soft landing,the are re accelerating allready,what does that do for bearish case.I thought China have big slowdown effect U.S exports.Cobra you chinese whats your take whats going on over there

China is already beat up.

Thats not what report on cnbc say

Per DeMark it is short at L1 or H2 day.

grachu wrote:cobra consolidition here is BAD for bulls ?

it's not consolidation. wait.

johnnywa wrote:

Petsamo wrote:

johnnywa wrote:They say no China hard or soft landing,the are re accelerating allready,what does that do for bearish case.I thought China have big slowdown effect U.S exports.Cobra you chinese whats your take whats going on over there

China is already beat up.

Thats not what report on cnbc say

So short it.
FXI, GXC, & HAO are US ETFs with Chinese companies

SPX: Down side price action is corrective.
I am working with a Zig Zag.
Wave (C) projectd target range = 1370-1354

Gonna cover at SPX 1374 and then go long for a dead cat bounce.

still pretty much looks like a Bear Flag so far.

TWT wrote:SPX: Down side price action is corrective.
I am working with a Zig Zag.
Wave (C) projectd target range = 1370-1354

Doesn't it look impulsive down?

TraderGirl wrote:

TWT wrote:SPX: Down side price action is corrective.
I am working with a Zig Zag.
Wave (C) projectd target range = 1370-1354

Doesn't it look impulsive down?

Not to me