Cobra's Market View

I take it back. Too much pullback, I think for a wave 4 of wave 5 in approx. 5 hr cycle. Might be a C in approximate 5 hr cycle..

I don't know how to annotate chart yet....

I think I attached the picture....

Tried to paste the paint image into the quick reply, but that didn't work....

Wave 3 of wave 5 in approximate 5 hr cycle.

She looked at me with those big brown eyes and said, "Baby, you ain't seen nothin' yet!"

BEN's speech - http://www.federalreserve.gov/newsevents/speech/bernanke20121120a.htm Thanks, TraderJoe. I see it as mostly neutral, except the very positive affirmative comment that if the Fiscal Cliff is avoided, Ben says the Economy could have a very good year!?! I'm an optimist, so I have to ton...

rc1269, I agree completely. And that does make sense. But I clearly saw the opposite happening tonight, and I don't see how that would be possible. The large moves in the ESZ12 made sense in terms of the election, and they overpowered the Nikkei at several points. Even when the ESZ12 went from down-...

... That is, I can't believe the Nikkei "daytime" trading would be linked so tightly to the ESZ12 overnight movements. I could easily see the Nikkei overnight trading wanting to follow the S&P 500 daytime movements....

I don't get it. I understand alot of market participants reeeaaaallly want to sell today. Ok, fine. What I don't get is, why does the Nikkei 225 move up/down pretty much second for second with the S&P 500 futures ( though it rebounds to lose less ) ? Does that mean that people are either manuall...

DayTradingES, I'm sorry to hear of your loss. I know that your love for your brother will continue to point to the part of him that is eternal, and will point to the part of yourself that is your own highest self and is closest to him. I know that our hardest times are the times when we grow the mos...

More sideways sentiment.....

http://www.marketwatch.com/story/weaken ... atest_news

Strong sectors were Materials, Tech, Industrials, Financials. Daily charts of xli and xlb seem to point to early recovery phase. daily chart of dxz12 shows recent drop followed by levelling out. daily chart of esz12 shows recent rise followed by levelling out, and today's rise being up to near the d...

I feel like skynet has reprogrammed itself. Inputs + expected reaction not equal or similar to observed outputs...

Almost like skynet has been watching terminator movies and is feeling like it has a better idea...

Good macro news vs. Bad macro news not good enough to override nearness of the SPY MA50 line? Bulls skewed towards waiting until MA50, Bears emboldened until MA50 rises up to meet us? But I think it probably doesn't look as bad to watchers of SPX and ESZ12 yet, so the effect is increasing as we stay...

5 minute macd about to go to sell-side, and descending price channel pointing to bearishness? Along with pre-labor day bear bias?