Cobra's Market View

Gap up above yesterday's high so there's a chance the gap won't be filled. As mentioned in yesterday's market recap, we need see huge up today or tomorrow to firm the bull cases.
A little warning here, OEX put call ratio surge, something is going on, so bulls don't get too excited, fighting is still on.
Institutional actions from stocktiming.

gm

Great analysis, Cobra. Bears need a reversal TODAY in order to have any hope at all. I'm not convinced the trend is up yet but on the other hand, the VIX and bonds are sort of confirming the bullish case. The last 5 days of the month are generally bearish, plus there's a major turn next weekend (April 3rd), therefore, this is really the last stand for the bears, truly.

Morning.
/ES update: http://99ercharts.blogspot.com/2011/03/es_24.html
Target 1212.

EURUSD
The PIIGS haven't flown away.
http://99ercharts.blogspot.com/2011/03/eurusd_24.html

Nikkei Futures
And of course there are still no problems in Japan.
http://99ercharts.blogspot.com/2011/03/nikkei_24.html
Good luck.

The open. I guess the gap may get filled first.

GM, will be a big tugowar. down trend still attatched.

bigger picture, stalled at Fib 61.8. Bear still has hopes.

Got to stick to the basic, get too cute lately. Sell sell sell.

financials are weak so far today, not great

SPX
Not too keen on EW but here's a count.
http://99ercharts.blogspot.com/2011/03/spx_24.html
Bearish, eh?

FAZ and SRS got to move today.

support

we might reverse here at /es 1296, yesterday's high

TZA shows some life too, 10 pennies more will be a BUY to me.

went long /es 1296.25 , stop 1295

back to 50% short near the open, very bearish alignment here until further notice, financials and reits are tanking

/ES 192.58 next stop

This kind of black bar looks familiar. Will the 3rd time be different?