Cobra's Market View

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Gap down along yesterday's low so I'm not sure if the gap will be filled.

The Global ES looks like a Bearish Rising Wedge, so not good looking, especially the popup to make a new high attempt failed overnight (red cycle), since you Earth people failed twice on the upside now you guys shall try on the downside. Let's see. The bottom line, so far the rebound is mostly overlapping so very unlikely it's something to bring us to Galaxy far far away.

GM
Pending home sales at 10:00am ET
consensus = 0.5% (consensus range = -2.0% to 3.1%, and prior was 4.1%)

GM COBRA & BOARDIES

DAX: hello bear flag (they tried to stop falling with big hft spike but without success) maybe they have some better tricks for later today

KeiZai wrote:GM COBRA & BOARDIES

DAX: hello bear flag (they tried to stop falling with big hft spike but without success) maybe they have some better tricks for later today

hd.png

DAX a model for SPY ? We break trendline, rebound to it (as earthlings often do) and continue with large move?

Cobra wrote:If you're StockCharts member, please do me a little favor by "vote" and the most importantly "follow" my public chart list here: http://stockcharts.com/public/1684859. You need "follow" only once but vote can be done everyday, so whenever you have time, please vote for me, thanks!

If you're not StockCharts member, you can also help boosting my rank by clicking the link once everyday: http://stockcharts.com/public/1684859, thanks!


Gap down along yesterday's low so I'm not sure if the gap will be filled.

The Global ES looks like a Bearish Rising Wedge, so not good looking, especially the popup to make a new high attempt failed overnight (red cycle), since you Earth people failed twice on the upside now you guys shall try on the downside. Let's see. The bottom line, so far the rebound is mostly overlapping so very unlikely it's something to bring us to Galaxy far far away.

Looks like my gut yesterday could be right. Had to give it the chance to break resistance a few times yesterday though. Thanks for saving me some headaches, Cobra.

goofball messages coming out. just like last year - when just as the S&P hit the critical bearish threshold - a message would appear stating to save EUROPE

today - Euro Banking Union.. of course no concrete details...but it sounds great (big spikes from DAX, EURO, ES futures) but market appears to be smelling the bullshit for what it is... this thing is about to make a serious move ....south...

The DAX spiked up for some reason, then retreated. I wonder what that was all about.

Euro Banking Union was announced --- as a possible option.... the Eurumor mill

Petsamo wrote:The DAX spiked up for some reason, then retreated. I wonder what that was all about.

They stop it right on the cliff, with rumor about some kind of bank union or what, it was 1 second spike I saw it real-time

CRASH

the open.

double top target.

ken_d17 wrote:

KeiZai wrote:GM COBRA & BOARDIES

DAX: hello bear flag (they tried to stop falling with big hft spike but without success) maybe they have some better tricks for later today

hd.png

DAX a model for SPY ? We break trendline, rebound to it (as earthlings often do) and continue with large move?

yeah they are tied together

I sold my FCX and it is staying suspended.

At least there are other securities that are attractive ...

SPX: The Ending Diagonal is still in play. 1314 should not be breached

Richarab wrote:Euro Banking Union was announced --- as a possible option.... the Eurumor mill

Saw that and just about tossed....everything. Who exactly was going to pay for that?

gold is getting hammered

support then one more and then....

Champix are you here? 87?

We have always lived in the era of rumor-driven markets.

Regarding China, FACTS ARE :

Chinese government board will replace several senior members in a few months from now, i guess.

There´s turmoil evrywhere in middle-east / africa and even Ukraine.

They can say whatever they want now, but a hard landing wont be allowed, threatening political stability.

And that include money printing, yes.

The remaining is what is is, everyday rumors.

Checked on Bloomberg this morn and the CRB commodity index is now 276.82.To those that don't follow this index this is very bad news for the Mkt and the Econ.If this continues to fall the Fed (Big Ben ) will step in and do something like QE3.Then no more Bear Mkt for awhile and we we head for the big blue sky.So lets see.