Cobra's Market View

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Small gap up alone Friday's high so not sure if the gap will be filled or not.

The only thing I can say on Global ES is the rebound should have legs, because so far it's strong.

Morning Cobra, All...
Came across this over my weekend scans. Longer terms looks like the semi's could be forming out the right shoulder of a H&S within a bigger 1,2,3 COT...

Divergence on ES hourly. Very powerful as it becomes a big part of the intraday move.

Looks like a bull flag breakout to me. I'd bank on a retest of the high.

Then again, I had a short on over the weekend and got stopped out at 1415, so this thing might just tank to spite me

the open.

could be small 3 push up here. now it might be time for 2 leg down.

Cobra wrote:could be small 3 push up here. now it might be time for 2 leg down.

Bull flag on DAX and other European indices?

see below, RSP weak, QQQ strong, so apparently this market is lifted by AAPL mainly. The world can stop producing anything include food, we just go make iPad or iPhone, then we should be all rich.

The mkt strength still climbing..Now over caution line to make a maybe a lower hi..Note the last hi was also lower..Still looks like mkt will stay with this up move for a few more days/or more..Note also the red line above the thick blue line is not showing any cross over as yet

noob wrote:

Cobra wrote:could be small 3 push up here. now it might be time for 2 leg down.

Bull flag on DAX and other European indices?

DAX doesn't look bad.

ES hourly divergence update. That is quite a few handles

Cobra wrote:see below, RSP weak, QQQ strong, so apparently this market is lifted by AAPL mainly. The world can stop producing anything include food, we just go make iPad or iPhone, then we should be all rich.

Hey Cobra the QQEW (equal Weight QQQ) confirms this. its down -.4% w the QQQ +.1%

Long.
My indicators have the trend as up.
A host of topping signs and action in the currency markets color me bearish.
Some shorts may clear out prior to Jackson Hole, and we may see some window dressing this week.
So, bottom line is I don't have a clue...

I am thinking the markets are going into transition with more clarity after labor day.
Until then, I'll opportunistically dance around with hedges or do nothing.

nothing to say, the plan looks likely.

I guess it is STFR till the divergence on ES hourly clears up. Closed my short too early

Cobra wrote:nothing to say, the plan looks likely.

couldn't it be 3 push down?

Wolfe is done Maybe. Certainly would have liked a touch of where I have marked B, but the honey badger don't care

Cobra wrote:

noob wrote:

Cobra wrote:could be small 3 push up here. now it might be time for 2 leg down.

Bull flag on DAX and other European indices?

DAX doesn't look bad.

Hey Cobra and fellow traders,
new member here trading mainly FDAX, reading u almost everyday

FDAX has been quite strong today but now is around strong resistance from TL coming from 21/8 and 23/8 tops
I would be cautious for an intraday double top / lower high

AD “chop” at 50/50
nyadv 1300
nydec 1300
vix and trin bear

Uh Oh, we're down a fraction of a point on the SPY........

Time to roll out Ben with another QE love letter.