Cobra's Market View

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Small gap down within yesterday's range so the gap might be filled.

The Global ES may miss one more push up to test the overnight high at least. Purely feelings, so not sure.

You may see a H&S Bottom, we're on the right shoulder, well, too early to say, we need see how rebound goes first.

hey cobra, do you see a double bottom on the ES? 5am EST and 840am EST @ 1377?

stucap wrote:hey cobra, do you see a double bottom on the ES? 5am EST and 840am EST @ 1377?

possibly, but it could also be 1-2-3 formation, so need wait for the breakout first. so although we can see lots of imaginary patterns on the chart but we need find a tradable one. The current imaginary pattern, either my H&S Bottom or Your Double Bottom or 1-2-3 formation are not tradable pattern yet.

GM I see 2 possibilities here

Cobra wrote:

stucap wrote:hey cobra, do you see a double bottom on the ES? 5am EST and 840am EST @ 1377?

possibly, but it could also be 1-2-3 formation, so need wait for the breakout first. so although we can see lots of imaginary patterns on the chart but we need find a tradable one. The current imaginary pattern, either my H&S Bottom or Your Double Bottom or 1-2-3 formation are not tradable pattern yet.

thanks! good to know all options.

the open.

Good morning. Three things:

I have a large Phantom Bar on QQQ (yesterday) just above 68.10 (stockcharts.com)…anyone else?

Trivia: The top three highest beta of the “diversified banks” are C, BAC, and JPM

Today is Friday the 13th

Remember yesterday was a big trend day, usually the day after is a range. And today i'm looking for range trading (scalping). GLTA!

yeah i win the rick trip. china reported lower than expected gdp.
they just don't understand chinese gov. they may have a very corrupted gov, but they take reputation seriously. it is extremely unlikely they lower target then immediately raise data to beat it.

possible bottom around 1374-1377 area. in general i am seeking to short pop today.

I’m still pondering cobra’s gentle wisdom from yesterday:
“day swing”
not scalp
“day swing”
I like that
And it might just keep me out of the looney bin

What a woderful chart, isnt it? I have a P-bar to -223 seriously

rumor says lower mich data. market is going down at this moment. just rumor. i will not front run

feels like a continuation pattern, so the bias is down.

EUR might have found support at lower TL of the up channel from 04/09. Closed the shorts.

soku wrote:rumor says lower mich data. market is going down at this moment. just rumor. i will not front run

interesting moment. the data is lower than expectation but higher than whisper. let's see how the market reacts.

Al_Dente wrote:I’m still pondering cobra’s gentle wisdom from yesterday:
“day swing”
not scalp
“day swing”
I like that
And it might just keep me out of the looney bin

Honestly Al, why looney bin? I thought you were a long-legged blonde who knows what she's doing

DW P&F chart..On this NYSEBP chart you need 3 O's or 3 X's For trend change..Note when the hi in X's is above 70 and falls below 70 the pull back is greater..Changing trends taks 3 boxes,3%. Note the yellow Mar/July 07..Cobra has been saying we will have a new hi..When we have a pull back below 70 the mkt tends to make a new all time hi.We could be setting up for this same formation.See April..The % change yesterday was only.27 very small for big day up..This indicates a weaker mkt.Hope this explains the chart somewhat.

Cobra,
Can you share your view on GOOG? Thx

target $137.26, 60% chances.

one min internals