Cobra's Market View

Looks like 3 pushes down & trend channel line overshoot
Now at ema 20 resistance

confluence of EMA20 and TL. Will they hold?

intraday MM met - midpoint 1561.25-1561.50
Bears will push for it

Trendline and EMA 20 holding

if trendline doesn't hold ,next stop 1568.50

@Cobra -Totally agree 3 pushes up - although the first leg down could have exhausted bears for today and could see some trading range here for rest of day

Bulkowski
Probability of another week up 16.5% (past 10y), but trend may continue (25y of monthly return)

$SPY Winning Streak Will End Yesterday’s fractional gain kept the S&P 500’s winning streak alive and well at seven days. Should the S&P hold its gains today through the close, it will be just the 64th time since 1950 that the S&P 500 has booked gains on eight consecutive days. The last ...

NQ stronger than ES today - the opposite from what happened last days

Jeff Hirsch, Author of the annual Stock Traders Almanac, put out a friendly reminder last week about the final stages of Election years. Historically, Q4 the year of an election and Q1 of the following year represent the second worst two-quarter combination of the entire 4-year cycle. http://allstar...

The beat up stocks & ETFs are ignoring the sell off. XME (miners), EEM (emerging markets), KOL (coal), XOP (oil services), SLX (steel) WLT, CLF, X Germany (EWG) is participating in the sell off. No surprise there Germany is participating in the sell off? DAX is 90 handles higher than 3:03 a.m. ...

GM all,
FDAX in the green for 1st time today in RTH. 20 min to close looks like it's going to be a bull reversal day or a doji.

GM all,
FDAX has been a little weak. Yesterday bull flag didn't played out, and today broke down to yesterday's low where has been trading for the last 5 hours (in a 20 point range).
I believe it hasn't formed a proper topping pattern @7400, so a revisit there or nearby won't surprise me.

uempel wrote: nasta, it could also be a H&S formation...

little hard to discern, but could be
the markets now closed in europe, ball in appl court now

FDAX just completed a wedge bull flag. Possibly we bounce from here to the closing

Gm all,
Expecting some resistance here in DAX

GM all,
FDAX in a 40 point range all day long - it's exhausting!

GM,
FDAX has been very weak today losing major supports

GM,
FDAX had two-sided action so far, with bulls fighting for 7000 and bears defending the downward sloping TL from 21/8 - 23/8 highs.
Near 08:30 had a small breakout to the downside but now is back inside range.

could be small 3 push up here. now it might be time for 2 leg down. Bull flag on DAX and other European indices? DAX doesn't look bad. Hey Cobra and fellow traders, new member here trading mainly FDAX, reading u almost everyday FDAX has been quite strong today but now is around strong resistance fr...