12/05/2012 Live Update

[Cobra]

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

I don't what kind of pattern is on Global ES, need wait and see.

[SigmaEcho]

DAX new high again.

[Cobra]

members only update starts here: http://www.cobrasmarketview.com/2012/12 ... ay-update/

[Cobra]

DAX new high again.

new close high but another reversal like bar. maybe it will simply consolidate here instead of pullback. give it a little more time.

[TWT]

SPX:

1) The obvious pattern = Zig Zag: If price is unfolding a wave (B) it is still too short to be considered done hence the pattern would require a larger Zig Zag with a potential target in the range of 1393 – 1385
If this count is the correct one then the current rebound should fail establishing a lower high.

2) The unexpected pattern = Yesterday price action resulted in a daily Doji, which could surprise (short term) the bears with a different pattern such as an Ending Diagonal. If this pattern plays out it would strengthen the larger picture (Bearish) wave (B) scenario since we could even have a failure at the November 6 peak = 1433.38

[Cobra]

the open.

[Denali92]

It is the SAME price action EVERY DAY - I go to BED (here in Zurich) seeing the futures weak and when I wake up in the morning, we have levitated higher....

One of these days, the overnight price action will change.

While I am not the master of Cobra's 3 push up and approach - the TFZ2 looks like it had 3 pushes up - yesterday was the first push DOWN - today we have made a lower high and now we might start making the second push down with a target of ??? at least GAP fill on the IWM at 81.31 and I would think somewhere between 80.40 and 80.80 is a good target.

Cobra: Any thoughts?

-D

[TWT]

USD Index: Just a bounce or a DZZ is complete ?

[Cobra]

members only update at 9:39am
http://www.cobrasmarketview.com/2012/12 ... ay-update/

[Cobra]

3 Push Up?

[KeiZai]

Bulls give me one more spike up please


russell

[toddymc]

SPX:

1) The obvious pattern = Zig Zag: If price is unfolding a wave (B) it is still too short to be considered done hence the pattern would require a larger Zig Zag with a potential target in the range of 1393 – 1385
If this count is the correct one then the current rebound should fail establishing a lower high..

Nice update--- I like your "obvious first count based on the indicators I'm tracking,
We should fail around that 1415 level maybe higher to shake out "da bears" grrr...
But definitely see it rolling over soon ...probably this morning sometime soon
plus this jibes with your count on USD--- Thanks!

[KENA]

Left early yesterday for the big city of Seattle..Had a great day and was nice to get away from the computer for a bit..I see I did not miss much yesterday..I'm still sticking where this week the mkt won't do much but next week my charts look like it may move in the Bears favor but could be choppy to start out..Soooo we just wait and see.GTTA

[Rikus]

Hi Cobra,

Can I get your thoughts on bac?

[Cobra]

since it's 3 push up, so we should see 2 legged pullback. we're on the very 1st leg down.

[L_T]

Anyone follow FCX? I've been waiting for an entry point for a long time but never imagined them buying oil and gas companies. I feel like I need to research this and see what some others have to say now before buying in. Anyone have any insight? I've already done the obligatory scans of financial press and it's just about reporting the story but no analysis yet.

[Cobra]

Hi Cobra,

Can I get your thoughts on bac?

Firstly, welcome aboard.

BAC is on this week's long watch list: viewtopic.php?f=10&t=751

It's now having the breakout, looks good.

[Petsamo]

Anyone follow FCX? I've been waiting for an entry point for a long time but never imagined them buying oil and gas companies. I feel like I need to research this and see what some others have to say now before buying in. Anyone have any insight? I've already done the obligatory scans of financial press and it's just about reporting the story but no analysis yet.

FCX is doing fine and is oversold. It isn't getting slammed like CLF or WLT. If I get into it, though, it'll probably get slammed.

[champix]

DAX new high again.

new close high but another reversal like bar. maybe it will simply consolidate here instead of pullback. give it a little more time.

This time, Dax seems to me in a pullback config : Gap UP then down all day long, let see if it gonna close in red...

[wayne0708]

No exhaustion bar yet!
May be double bottom soon