If you're StockCharts member, please do me a little favor by "vote" and the most importantly "follow" my public chart list HERE. You need "follow" only once but vote can be done everyday, so whenever you have time, please vote for me, thanks! If you're not StockCharts member, you can also help boosting my rank by clicking the link once everyday.
Please, again, all my calls in the daily live update is for intra-day only, they're absolutely invalid when the closing bell rings. If you're interested in the forecast for days and weeks, Please subscribe my Daily Market Report.
Personal attack on any board members won't be tolerated. Please limit your topic to trade related only.
Please no direct link to your personal web site or blog. You must post rich contents here. You can, however, put link to your personal web site or blog as your signature.
I'm very busy during the trading hour, so your question posted on board might not be answered. For a guaranteed answer to your question please send email to info@cobrasmarketview.com.
Small gap up, within yesterday's range, plus any gap after Major Distribution Day tends to be filled, so guess the gap might be filled.
Could be a Bear Flag on the Global ES. Yes, it can be a Double Bottom but bulls need do a lot to make it happen, so for now, I'll just read it as Bear Flag.
Attachments
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
Morning, russell (and other indices) at the lower BB what about wave down as a bear trap then snap back rally into next week?
it's nothing more than speculation at this point price pays so follow the price and levels .... GL
My satisfaction always came from beating the market, solving the puzzle. The money was the reward, but it was not the main reason I loved the market (Jess Livermore)
KeiZai wrote:Morning, russell (and other indices) at the lower BB what about wave down as a bear trap then snap back rally into next week?
it's nothing more than speculation at this point price pays so follow the price and levels .... GL
Russell-18.png
I am in the sell mode on this chart.
ST looks definitely as a sell look at that weak bounce oy bulls I am very disapointed
My satisfaction always came from beating the market, solving the puzzle. The money was the reward, but it was not the main reason I loved the market (Jess Livermore)
• Momentum and breadth are suggesting that there is serious distribution activity, which increases the odds that SPX should be on the verge of confirming a trend reversal (The up leg from the November lows would be over)
• Elliott Wave wise, the current pullback has unfolded a corrective pattern that could mislead the bulls. Usually a corrective move does not belong to a reversal pattern.
So regardless of EW counts I know the price zone that will confirm a “temporary” top if/when it is breached ===> 1539.50
Lets look at the internal structure of the current move: Price has unfolded a 5 – wave down leg that in my opinion cannot be considered an impulsive sequence:
If it is not impulsive then it is not over yet ===> A 7-wave structure is needed
I see two options:
1. Double Zig Zag wave (A) (Of a larger Zig Zag or Double Zig Zag).
If this is the case price is now in the wave (B) rebound, which will be followed, by the last wave (Y) with a theoretical target at 1530.
2. Zig Zag with an Ending Diagonal wave (C). (Of a larger Zig Zag or Double Zig Zag)
If this is the case the assumed pending wave (V) will have to be corrective and has to bottom below 1539.50
Probably if one of the two counts discussed above is correct this bounce will eventually be sold. (Maybe a low tomorrow: OPEX day).
Once the pattern is completed I expect a multi-day rebound that will have to establish a lower high giving the absolute confirmation of the trend reversal.
KeiZai wrote:Morning, russell (and other indices) at the lower BB what about wave down as a bear trap then snap back rally into next week?
it's nothing more than speculation at this point price pays so follow the price and levels .... GL
Russell-18.png
I am in the sell mode on this chart.
ST looks definitely as a sell look at that weak bounce oy bulls I am very disapointed
Boss don't forget your swimming suit.
I covered she yesterday I was thinking about gap up to 22.80 I have to sell it again somewhere...if i get a chance
My satisfaction always came from beating the market, solving the puzzle. The money was the reward, but it was not the main reason I loved the market (Jess Livermore)
nothing wrong yet, still can be read as Ascending Triangle here, wait.
Attachments
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.