Cobra's Market View

careful of a break....

wedge? bear flag?... little more push up.... prior to a break down?

some trendlines.. I lean towards 1190 maybe a sharp move this afternoon, gap down on Monday?, but next week, short trading week, general bullish prior to holiday weekends, fewer pros trading, more retail,1240-50 on the 1/2 trading day next Friday, would not suprise me.

hmm.. a larger channel... this could argue a bounce right here

1180-90 ish seems like a nice bounce target 50% , trendline, close below the 50 Day SMA, to freak everyone out.... then bounce!

Should we bounce near here... or the 50SMA at 1205... retest of the triangle, could act as possible shoulder.

50 day SMA 1205ish..

Channel Lower targets 1190ish... Red neckline still needs to be confirmed... depends on where we bounce after this fall

H&S target met ( grey channel ).. now retest Triangle?... or a very weak bounce 1220-1230.. before we head down.. H&S v2 second chart

gabor wrote:

soku wrote:cobra, u haven't talked about santa rally which could start during thanksgiving. any thoughts on that? will it happen this year?

There is always a Santa Claus rally, the only question is if it starts at 1100, 1000, or 900.

Maybe we get one like 2008?

a bit of a stretch.... fwiw.

DOW, RUT, ... still in their triangles... and a touch away from bottom trendline.. hope this is not a head fake.... only time will tell

Targets?... Grey Channel?.. H&S measures to 1215 ....then there's the triangle break..

watch out below...

neckline realigned... a little bear wedge?.. but still in the triangle

a little neckline trubulence?... flight to target may now resume?

another H&S target... within a triangle

a little bit of a stretch.. but it would cause the most amount of frustration...

Triangle, and/or still building a possible complex H&S... neckline either blue, or red dotted trendlines...

something I came across the other day, interesting very short term trading help for free!
http://algofutures.com/