Cobra's Market View

Bull is evolving. For me, it is a MUST NOT trade situation.

I think the rebound has chance to go a little bit longer here, after that should be another leg down. Not necessarily. These intermediate zigzags usually have two legs. when I put 5 min chart here, I mean intraday, and indeed the rebound goes a little longer. I am still learning your language and v...

Cobra wrote:I think the rebound has chance to go a little bit longer here, after that should be another leg down.

Not necessarily. These intermediate zigzags usually have two legs.

maldini wrote:is it possible to be range bound for several weeks?

I do not think so. The triangle points to the exact time when it MUST END for sure. This market probably will make a decision by the middle of next week for sure, or sooner.

Did you notice that the middle of the range where we are and middle of the triangle most probably in formation on my chart (red zigzag) is 1344.40. This number is the Febr 7th high. In other words, the market have not decided yet, if that Febr 7th high support was significantly broken or not. Yeste...

Did you notice that the middle of the range where we are and middle of the triangle most probably in formation on my chart (red zigzag) is 1344.40. This number is the Febr 7th high. In other words, the market have not decided yet, if that Febr 7th high support was significantly broken for LONG TERM ...

I am tryin to post my most recent prediction about the future market. It is strongly an Elliottist opinion. :-) The three scenarios have been pictured: most, medium and least bullish version of the essentially same idea. We will visit deep lows within a week or two, before we visit or make new highs...

Cobra wrote:OK, I'm BACC. As I said more up, now we have a new channel. bears couldn't make a lower low so bulls look good now.

I think it breaks out of the channel and forms a 5th wave extension on it.

gabor wrote:The gap looks quite serious. Is it just my system, or everybody sees it?

I think we will go back where we came a day before yesterday. Range, which kills bulls and bears!

The gap looks quite serious. Is it just my system, or everybody sees it?

How is the volume? Yesterday it was higher than average, isn't it?

uempel wrote:A breakthrough at 1338.50 at 11.30 am might be a bull trap, but I guess I'd buy it:

SPX3.png

May be a short sqeeze comes?

uempel wrote:Guys, 1330 is crucial. Perhaps a beartrap down there by going down to 1328 for a minute or two, but a break below 1330 is a break... Wait for a clear signal.

SPX1.png

For me 1325 is more critical. That is the 38.2% Fibo of wave 3, that is the distance between 04/17 low and recent high.

Cobra wrote:there's a trend line here in case you haven't noticed.

Noticed. According to the wave principle it is allowed to break slightly before wave 5 starts.

I can imagine a range with choppy up and down trades for couple of days, just to kill both bull and bear camps.

Who is gonna trade this "good chance" long?

sniffer wrote:congrate on Cobra great prediction - short term top.
Thanks Cobra on your wonder work.

I remember, Cobra said yesterday that more upside is ahead. Did I misunderstand something? The RED was predicted for tomorrow.

For those who would like to watch the futures incl. the USD,EURO,AUD etc here is the Web Site...www.finviz.com/futures.ashx the only thing I dislike is the graphs are not interactive, need refresh:D if you want free real-time streaming futures prices sign up for a paper trading account with thinkor...

Cobra wrote:Flat open so any gap will be filled and likely a range day today.

So, red is postponed to later time. Can you imagine a scenario when the market climbs slowly for one other week.

I am reading deep into your pages. Do you really watch moon cycle? Di Napoli azimuth?

The correlation of SPX with the OIL is surprising!!!! I do not who drives who, but it is nice.