Cobra's Market View

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Flat open, any gap will be filled.

Key time for Global ES here as it tested the previous high and pullback, break the blue line below then it'd be a Double Top, so you don't want to see bulls fail here.

members only update starts from here: http://www.cobrasmarketview.com/2012/11 ... ay-update/

GM dollar is still fighting at 50fib (green line) formed potential another 2xbottom, something just to keep an eye on

viewtopic.php?f=2&t=748&p=106744#p106744

M Cobra, how about DAX. Broke previous high (early nov) and pulled back.

Nasdaq: I think we will see little weakness then back up before correction will take place

(morning chart)

the open.

SigmaEcho wrote:M Cobra, how about DAX. Broke previous high (early nov) and pulled back.

DAX has been testing the previous high many times, so a breakout is likely. I think a consolidation or pullback here is need before the breakout otherwise the breakout might be not real because it travels too long to test the resistance, like a flying arrow near its max range.

5 Min ES Chart - Watching the channel and waiting for it to break down or out.

Cobra wrote:

SigmaEcho wrote:M Cobra, how about DAX. Broke previous high (early nov) and pulled back.

DAX has been testing the previous high many times, so a breakout is likely. I think a consolidation or pullback here is need before the breakout otherwise the breakout might be not real because it travels too long to test the resistance, like a flying arrow near its max range.

FWIW: Mike Bergen ‏@BergenCapital
Buyers of DAX downside stepping in - large buyer of the DAX Mar13 6400 Put in 15k listed (500m notional). Low delta - little futures impact

VXX: Can VXX have an oversold bounce ?

Advancers 1400
Decliners 1200
wussie

nothing to say, wait for the range breakout first.

is that another new hi XIV?
[please confirm as my freestockcharts candles are screwed up today on 5m XIV, thanks]

Al_Dente wrote:is that another new hi XIV?
[please confirm as my freestockcharts candles are screwed up today on 5m XIV, thanks]

Yes Al, I have 19.76

I'm long 5 ES contracts at 1415.45 (Avg price). This is not a recommendation for anyone. I may have jumped the gun as Cobra posted wait for the range to settle.

Potential long 3D Systems (DDD)

Break-out & Volume

Royal Flush wrote:

Al_Dente wrote:is that another new hi XIV?
[please confirm as my freestockcharts candles are screwed up today on 5m XIV, thanks]

Yes Al, I have 19.76

THANKS bud

It looks like the mkt could chew around here in a small range for the next 3-5 trading days..The charts are trying to change but this may take a few days chop..Look at the algo it is topping and liquidy is holding in the higher quad.We may see some good bearish moves the 2nd week of Dec..Just imho..Lets wait and see. Charts by stocktiming

pezhead9000 wrote:

Cobra wrote:

SigmaEcho wrote:M Cobra, how about DAX. Broke previous high (early nov) and pulled back.

DAX has been testing the previous high many times, so a breakout is likely. I think a consolidation or pullback here is need before the breakout otherwise the breakout might be not real because it travels too long to test the resistance, like a flying arrow near its max range.

FWIW: Mike Bergen ‏@BergenCapital
Buyers of DAX downside stepping in - large buyer of the DAX Mar13 6400 Put in 15k listed (500m notional). Low delta - little futures impact

Well, applying put-buying as protection is quite bullish. I'm bullish on DAX, my only short term concern is the daily stochastics which is at a high. Suggests there will not be a breakthrough in the next few days.