Cobra's Market View

I'm here everyday your open Cobra, I think you have enough folks contributing. Appreciate the forum.
steve

cobra I've posted a couple times but not with any frequency. Thank you as well, you have a great thread here.

Cobra
I have this move on the SPX as a major breakout above Ted Burge's long term horizontal resistance of 1338.80 and I believe that level will now act as support on any selloffs in the near future...

uemple
Can you describe how you creat the rhomboid that show on your chart?

There is strong resistance at 1312/1314 and SPX won't go higher today.[/quote]

Cobra
Did you see the Tim Ord charts today? The high Trin in the second chart and the high Put/Call ratio point to a possible bottom.

http://www.decisionpoint.com/TAC/ORD.html

Cobra wrote:little bigger picture. Nothing to say.

That is the bearish count on the table but far from confirmed, SPX has to close below 1294 to confirm IMO. I think Mr. Market is working very hard to confuse everybody the last two days. I am not day trader (usually). So, I am neutral at the moment waiting for more clarity. I think the 3/2 low and t...

Cobra You are doing great job with the intraday thread, its great fun. Love all the charts you put up. Thanks. I'm no day trader anymore, so just for fun, don't take my watering seriously... I'm not a day trader either. I've been doing this for a long time and I understand all the risks of trading....

Cobra
You are doing great job with the intraday thread, its great fun.
Love all the charts you put up.