Cobra's Market View

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Gap up within yesterday's range, so the gap might be filled.

Global ES is on the way to test yesterday high, this is the 2nd test so no failure allowed here, key time, I'm neutral for now.

gold looks good to me, a consolidation before breakout.

oil looks like a bear flag, so might be more down ahead.

Euro still looks like a bull flag therefore is bullish biased.

Will this flag ever resolve itself. Still looking for my sell signal. ( Swing )

Cobra, how come dax is missing this morning? Thanks!

Cobra wrote:oil looks like a bear flag, so might be more down ahead.

Yes I went short via puts in USO at yesterday's close because of the continued weakness. Hopefully we have more follow through to the downside this week. As long as USO doesn't fill the gap above 35 I like the downside.

noob wrote:Cobra, how come dax is missing this morning? Thanks!

nothing to say today.

Cobra wrote:

noob wrote:Cobra, how come dax is missing this morning? Thanks!

nothing to say today.

Cool thanks a bunch.

the open.

Trading is tricky at the moment, market can go either way

Weekly chart: can SPX get back up above 1448?Daily chart: is channel support and MA 20 going to hold?Long term chart: is the black trendline going to hold, can SPX stage a rally from here?

Went long on the what I thought was a break above the trend line - sold out this morning

Triangle trendlines... waiting for a break either way, and awaiting for the gaps to be filled.

I will show this one chart before I leave for the day..Notice that the mkt has been in declining accum. for the last couple of weeks and is now close to distribution.The next few days will tell.

noob wrote:

Cobra wrote:

noob wrote:Cobra, how come dax is missing this morning? Thanks!

nothing to say today.

Cool thanks a bunch.

Long term mom charts from CS...

One more showing selling going up,buying going dn..GTTA

IWM near support on the daily

not a good start, so the gap might be filled.

volume surge, biggest bar, so may see rebound soon, but this bear has legs.

Update: