Cobra's Market View

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Big gap down but within yesterday's range so not sure if the gap will be filled.

Double Top or not on Global ES, let's see if bears are able to push down below the thick blue line, otherwise it's just an imaginary pattern, not real.

members only update starts here: http://www.cobrasmarketview.com/2013/02 ... ay-update/

the previous push up was strong so GENERALLY, bulls will at least try to fight back somewhere. Usually the previous breakout point ( around blue line) is the pullback target, so guess bulls might wait around there to fight back.

I saw the yesterday discussion on P-bar.

In my trading software, the SPY p-bar is visible only when I activate my software to show the Data outside regular trading hours.
Otherwise the p-bar is not visible.

IMHo this P-bar is a fraud similar to Lie -Bar (LIBOR) and one day it will make headlines, but by that time we will be hitting 2000SPX and 20000 dow, so it may not matter

GM

DAX : just few handles above target

O: but if it is HnS, then the target is much lower (likely will be met in C-wave after retrace if my count is correct) viewtopic.php?f=2&t=816&p=116542#p116542 euro : yesterday's rebound was corrective, ideal target is 1.33 for c-wave first 5waves are likely completed now is time for rebound

BTW I see broadening tops across the world, looks like DAX is a leader in BT formation we will see GL

SPX:

the open.

will add more put today already added some more yesterday ... the gap gonna fill and 1470 will be target ?

KeiZai, as to DAX (not FDAX) I've got support at 7540 (ellipses) and P&F down at 7500ish (traditonal and ATR)

KeiZai wrote:GM

DAX : just few handles above target

O: but if it is HnS, then the target is much lower (likely will be met in C-wave after retrace if my count is correct) viewtopic.php?f=2&t=816&p=116542#p116542

DAX-MT.png

euro : yesterday's rebound was corrective, ideal target is 1.33 for c-wave

Euro.png

first 5waves are likely completed now is time for rebound

E.png

BTW I see broadening tops across the world, looks like DAX is a leader in BT formation we will see GL

Some of the other H & S patterns may be void but the longer range NAS. is still valid..The NAS could start to weaken the other indexes on any dn move.

Important day. My last night's charts and today spy intraday.

AAPL target 485, when break 465 final confirmation.

SPY double top for now, have to see if retrace 61.8% intraday

uempel wrote:KeiZai, as to DAX (not FDAX) I've got support at 7540 (ellipses) and P&F down at 7500ish (traditonal and ATR)

KeiZai wrote:GM

DAX : just few handles above target

O: but if it is HnS, then the target is much lower (likely will be met in C-wave after retrace if my count is correct) viewtopic.php?f=2&t=816&p=116542#p116542

DAX-MT.png

euro : yesterday's rebound was corrective, ideal target is 1.33 for c-wave

Euro.png

first 5waves are likely completed now is time for rebound

E.png

BTW I see broadening tops across the world, looks like DAX is a leader in BT formation we will see GL

7487 is 161.8% back over last leg up. which is just above the september high.

uempel wrote:KeiZai, as to DAX (not FDAX) I've got support at 7540 (ellipses) and P&F down at 7500ish (traditonal and ATR)

KeiZai wrote:GM

DAX : just few handles above target

O: but if it is HnS, then the target is much lower (likely will be met in C-wave after retrace if my count is correct) viewtopic.php?f=2&t=816&p=116542#p116542

DAX-MT.png

euro : yesterday's rebound was corrective, ideal target is 1.33 for c-wave

Euro.png

first 5waves are likely completed now is time for rebound

E.png

BTW I see broadening tops across the world, looks like DAX is a leader in BT formation we will see GL

Yes agree thanks, we are now at 7560 and I am looking for 7500 to close 1/2 swings then reload higher after retrace

2 trade ideas out of my favorite type of setup - a inv H&s under a gap for anyone who is interested. I don't have positions in either, but if they trigger I'll be long:

GRPN: PLCE:

Morning and good trading! http://www.youtube.com/watch?v=QWMMdK51FWQ

a little resistance here, so need a little time here. wait.

Net Long. Carrying long and short.
Sold some ES last night (1508).

My composite trend signal is bullish.
My summation index signal went to sell last night. With the MO around zero, I am not viewing it as conclusive.
So, I am treating the signal more like a neutral than a sell, but will watch the action for confirmation or denial and proceed accordingly.

I have two signals now that suggest the market wants to correct.
With the trend soundly up and continuous infusions of liquidity ongoing, it is unclear how far a correction could go.
Could be down a bunch or a sideways chop sort of thing.

I am trying to honor the signals by moving toward neutral selling highs but will adjust as things unfold.
If the bulls keep trotting along, the hedge will be closed.

Even if we crashed at the open by 1000 points..... it'd be bought back to unchanged within 25 min.

"We're never going down again!!!!"

http://www.youtube.com/watch?v=9j-dPgh9eus