Cobra's Market View

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Huge gap up above yesterday's high so the gap might not be filled.

The Global ES maybe on the way to test the June highs, let's wait and see. Usually this kind of sharp up is at least 2 legged, so skeptical about this rising I am, but certainly I won't fight.

no comments on DAX, 100% Measured Move could be at 6616.

GM

I am not sure how reliable is this P-Bar but here it is as it is
EDIT: dollar chart

btw iH&S target met

Might stop at retest of H&S neckline?

Cobra wrote:no comments on DAX, 100% Measured Move could be at 6616.

the open. way too stretched, so should see a pullback of some kind first, then we'll see.

DSLV 43.50 I short this Ponzi bull.

gap up wrote:DSLV 43.50 I short this Ponzi bull.

Are you really going to short this???

TraderJoe wrote:

gap up wrote:DSLV 43.50 I short this Ponzi bull.

Are you really going to short this???

I no speak with forked tongue!

pullback a little but still way way too stretched, I don't know how today unfolds, wait and see, should be interesting.

gap up wrote:

TraderJoe wrote:

gap up wrote:DSLV 43.50 I short this Ponzi bull.

Are you really going to short this???

I no speak with forked tongue!

I'm on your side but I like AGQ..

TraderJoe wrote:

gap up wrote:

TraderJoe wrote:

gap up wrote:DSLV 43.50 I short this Ponzi bull.

Are you really going to short this???

I no speak with forked tongue!

I'm on your side but I like AGQ..

Wish you well of course, but just can't understand why silver has any more value today than it did yesterday in this weak economy.

overnight politics and bailout packages killing longs and shorts alike.

What to expect from the weekend ?

No big damage with this up move in bonds

Risk ON-OFF chart looks good as well (good 4 shorts)

EvilTrader wrote:overnight politics and bailout packages killing longs and shorts alike.

What to expect from the weekend ?

China PMI Manufacturing Index

Awfully quiet this morning...most must have been caught on the short side like myself

KeiZai wrote:GM

I am not sure how reliable is this P-Bar but here it is as it is

DX.png

EDIT: dollar chart

I have heard that premkt /aftermkt P bars are not very reliable.

Enough for my swing trade short on spy..But lets see what happens since the damage is allready done.

Euro daily squeeze was not triggered within this up move

Not much change in the Stocktiming and Dorsey Wright charts so will not post charts.