Cobra's Market View

TraderGirl wrote:

TraderGirl wrote:Dow, let's see if we get this leg down...

Yes...got this leg down...now let's test the high...you guys know what's next..

there is a higher chance for this down leg to touch or visit 14,454 - 14,463 area as a test. Then the bull/bear fight will show up

And this is the view when zooming on the price action in the last couple of days. So far, Dow built the base nice at 14,800

Another view

Another view in 1-minute chart

Daniel-David wrote:

dowtrader wrote:Update for S&P traders

Thanks, Dowtrader! Many of us key off the SPY and the underlying SPX index.

Welcome

Update for S&P traders

This chart might help ES trader .... watch 1633 level is very important for the day

update

Updating the day action , bear still in control clearly

This is why the decline is slowing down near this area

Today price action

Reversed the trade : long 14832

In the next chart I will zoom in the rectangle area

Out of the longs at 14816 and now reversed the trade at 14840 ( day trading )

I covered the short -22 pts ... will go now .. see ya tomorrow

I don't trade S&P but this chart might help some trader here. the low in this chart looks like Cup & handle formation but my problem with this low is the moving averages because it is the first attempt to push all the averages to the upside. Usually the first attempt fail or at least makes a...

Here is chart zooming on the move from the low

Resistance is resistance until is not ( classic TA) That it is... or aint. Quite true, Dowtrader. Clear support and resistance lines are some of the few "objective realities" in financial markets. Most everything else is just probabilities. Exactly, I agree 100% here is chart zoomimg on t...

Dow first important level 8-) --Should push thru this minor resistance. Normally when NYSE A/D is rising intraday, and near its HOD, the SPY and DIAs push thru to the next level, esp. early in the day. thanks for the information, the way I see it : Resistance is resistance until is not ( classic TA...

First important level